VPower Group Signs Strategic Cooperation Agreement with Fuyao Group

VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), joining hands with China National Technical Import and Export Corporation and Fuzhou Xutong Industrial Technology Co., Ltd. as a consortium, entered into a strategic cooperation agreement of modern energy management and implementation with Fuyao Glass Industry Group Co., Ltd. (“Fuyao Group”). The signing ceremony was successfully held at the headquarters of Fuyao Group on 19 October.

Leveraging the respective strengths and experiences of each member, the consortium will become an energy management contracting service provider of Fuyao Group. According to the agreement, comprehensive strategic cooperation will be pursued in the area of modern integrated energy management, including renewable energy, smart energy management and carbon asset management, on a complementary and mutually beneficial basis.

“We are pleased to become a partner of Fuyao Group through the consortium,” said Mr. Boyang Liu, Chief Investment Officer of VPower Group, “We will provide support on integrated energy management to Fuyao Group and its subsidiaries with the vision of promoting sustainable development of energy industry in China. Through utilising renewable energy and various technologies to enhance energy efficiency, integrated energy solutions will play a key role in contributing to China’s goal of achieving carbon neutrality by 2060.”

Founded in 1987, Fuyao Group is a large multinational company specialising in the manufacturing and sale of safety glass for automotive purpose. Listed on the main board of Shanghai Stock Exchange (stock code: 600660.SH) in 1993 and Hong Kong Stock Exchange (stock code: 3606.HK) in 2015, Fuyao Group is one of the world’s largest automotive glass suppliers and has been on the list of Fortune China 500 and top 500 private enterprises of China for several years.

Headquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It principally engages in power system integration (SI) business, covering designing, integrating and sale of engine-based gen-sets and power generation systems, and Investment, Building and Operating (IBO) business, involving investing in, building and operating distributed power stations to supply reliable electricity. It is now a leading distributed power station owner and operator in Asia.

Topic: Press release summary

Sectors: Daily Finance, Energy, Daily News


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