Norway-based Umoe Advanced Composites AS (UAC) has entered into a joint venture with Chinese investment fund, Yield Capital, to build up a large-scale fibreglass pressure vessels production facility for hydrogen in China.
The production facility is estimated to produce an annual capacity of 12,000 pressure vessels that will provide significant scale advantages and improved competitive position for UAC in all markets, including China and the rest of Asia where the hydrogen market is experiencing rapid growth.
UAC specialises in the development and manufacturing of pressure tanks in fibreglass materials with this seen as having huge market potential with fibreglass being significantly more cost effective than, for example, carbon fibre.
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