Hydrexia (Malaysia), an international arm of Hydrexia Holding Limited (Hydrexia) in Southeast Asia announced that it has signed a purchase agreement with The Green Solutions Group (TGS), a leading renewable energy solution provider in Vietnam. This agreement marks a solid execution of the strategic partnership intent between the two companies announced in a memorandum of understanding in early May this year.
Under the terms of the purchase agreement, Hydrexia will supply units of its hydrogen refuelling stations to TGS in a phased approach through 2023 and beyond. Hydrexia will be responsible for designing, deploying, and maintaining the stations for TGS. In addition, Hydrexia will also supply units of hydrogen fuel cell buses to TGS in a similar timeframe.
The signed agreement further materializes the strategic business partnership between the two companies geared toward promoting hydrogen end-use applications in the growing hydrogen market in Vietnam. Hydrexia, as a trusted hydrogen solution provider, and TGS, the exclusive partner of Hydrexia to deploy hydrogen technology and solutions in the Vietnam market, will continue to work together to explore other hydrogen business opportunities.
“This symbolizes our concrete first step in developing a business in a fast-growing hydrogen market in Vietnam. Hydrexia strives to deliver the best hydrogen solutions to our partner,” said George Gan, the CEO of Hydrexia for Southeast Asia. “I believe there are many other areas where Hydrexia can work with TGS to expand the horizons of our partnership going forward,” Gan continued.
“So glad to see that the strategic partnership between our two companies is moving forward smoothly,” said Winnie Huynh, the Founder & CEO of TGS. “We trust that this partnership will not only benefit the businesses of both companies but also bring substantial value to developing the hydrogen market in Vietnam,” Huynh further commented.
As an integrated hydrogen technology solution provider, Hydrexia is committed to serving the needs of the global hydrogen industry value chain. To date, the company has grown its business presence in various global markets including Australia, Singapore, Malaysia, Thailand, Vietnam, and the U.S.