A company involved in cutting-edge hydrogen vehicle technology – Jiangsu Horizon New Energy Technologies Co Ltd – signed an investment agreement on Aug 7 with the Zhangjiagang Free Trade Zone (FTZ) to build a facility there, according to the local authorities.

The FTZ is located in the county-level city of Zhangjiagang – administered by Suzhou in East China's Jiangsu province – and the group is mainly engaged in the development and commercial application of fuel cell core materials, reactors and fuel cell systems.

A ceremony celebrating Hyzon Motors being listed on NASDAQ market in the US is held in Zhangjiagang on Aug 7. [Photo/WeChat account: zhangjiagangfabu365]

Currently, it is focusing on developing fuel cells for medium and large buses, logistics vehicles, medium and heavy trucks and port equipment.

Under the agreement, the two sides will jointly build a development test center for hydrogen commercial vehicles.

In another development, Hyzon Motors, a hydrogen car manufacturing branch set up by Horizon in 2020, listed in July on the giant United States tech market – the NASDAQ – injecting further impetus into Zhangjiagang's new energy industry.

Han Wei, mayor of Zhangjiagang, makes a keynote speech at the signing ceremony on Aug 7. [Photo/WeChat account: zhangjiagangfabu365]

"I hope that Horizon will help accelerate the city's development of hydrogen energy sources in future after signing investment agreement with the Zhangjiagang FTZ," said Han Wei, mayor of Zhangjiagang.

He pledged the city government would improve its investment environment and provide better administrative services.

In addition, Horizon also signed cooperative agreement with Higer Bus Company and Oriental Energy Co Ltd.