Zhejiang Lanneng Hydrogen Energy Technology

About Zhejiang Lanneng Hydrogen Energy Technology

Zhejiang Lanneng Hydrogen Energy Technology Co., Ltd., also known as Rein Hytec, was established in 2009 and operates from the Hangzhou Bay Shangyu Economic and Technological Development Zone in Zhejiang Province. The company functions as a specialized manufacturer of gas storage and transportation equipment, integrating research and development, manufacturing, sales, and system integration. Key shareholders include Shanghai Shenergy Group, a state-owned company, and Henan Keyuan Industrial Investment Fund. In December 2023, the company initiated the process for an initial public offering (IPO).

The company's business model is centered on providing comprehensive solutions for the storage and transportation of hydrogen and other clean energies. They serve a global client base that includes prominent industrial gas and energy companies such as Linde, Air Liquide, Shell, and Sinopec. Revenue is generated through the sale of equipment and integrated solutions for various applications, including hydrogen refueling stations, natural gas, and electronic specialty gases. The company has demonstrated significant growth, with revenues increasing from 213 million yuan in 2020 to 796 million yuan in 2022.

Rein Hytec's product portfolio includes hydrogen storage and transportation equipment, CNG (Compressed Natural Gas) storage and transportation equipment, and solutions for electronic specialty gases. A core offering is their high-pressure hydrogen storage solutions, including tube trailers and tube skids, which hold a significant market share in China. They have independently developed 20MPa and 30MPa carbon fiber-wound tube bundle containers and 45MPa and 90MPa stationary hydrogen storage vessels. The company also provides turnkey solutions for hydrogen refueling stations, covering everything from design and equipment integration to construction and maintenance. A notable project includes supplying hydrogen tube skids for the Paris 2024 Olympics hydrogen refueling station. Additionally, the company has entered into a joint venture with a major European firm to establish a factory capable of producing 60,000 Type IV cylinders annually.