On December 16, 2022, ChinaBlueChemical Ltd. (hereinafter referred to as China BlueChem) and Geely Commercial Vehicle Group (hereinafter referred to as Geely Commercial Vehicle) signed a letter of intent on industrial and technological cooperation to jointly promote the industrialization of green methanol, accelerate the construction of a complete ecological chain consisting of methanol energy production, methanol commercial vehicles, methanol transportation and filling systems, etc. and promote cooperation in the field of new materials for vehicles.

Hou Xiaofeng, Deputy Secretary of CPC, CEO and President of ChinaBlueChemical, Lian Xueqiang, Assistant to President and General Manager of CNOOC Fudao (Shanghai) Chemical Limited, Fu Yu'e, technical expert of the CNOOC Group, Li Songtao, Deputy Chief Engineer and General Manager of Science and Technology Information Department, Zhou Jianqun, Chairman of Geely Commercial Vehicle, Shen Yuan, General Manager of Geely Holding Group Coordination and Innovation Center, Liu Hanru, Chief Scientist of Geely Commercial Vehicle and General Manager of Methanol Hydrogen Technology, and Li Zhefeng, Director of Investment and Development, attended the signing ceremony.

Fu Yu 'e, technical expert of China BlueChem, introduced that China BlueChem has carried out a series of development and transformation of advanced technologies in the areas of carbon-rich natural gas utilization and new chemical materials. In particular, it has cooperated with leading international companies to tackle key problems in the new generation of CO2-rich natural gas dry reforming technology; It has a 5,000-ton industrial side line device for hydrogenation of CO2 to methanol with advanced technology and industrialization; it has made a breakthrough in the development of polyformaldehyde production technology; and the production technology of high-end ABS and PMMA and other functional materials is being developed.

Liu Hanru, chief scientist of Geely Commercial Vehicle and general manager of Methanol Hydrogen Technology, introduced that after more than eight years of investment and development, Geely Commercial Vehicle has become the head enterprise of new commercial vehicle force, and the market share of its leading products has exceeded 20%. In order to better respond to the national "two-carbon" strategy and the call for green ecological development, Geely Commercial Vehicle invested in the establishment of methanol-hydrogen technology this year, is committed to accelerating the construction of a complete green methanol transport capacity ecology of methanol, transport, station and vehicle based on the electrification technology route and methanol-hydrogen power as the core.

Mr. Hou Xiaofeng, Deputy Secretary of CPC Committee, CEO and President of China BlueChem, said that the industrial development of China BlueChem has been closely following the national policy direction and the industrial layout of CNOOC, insisting on innovation-driven, taking the responsibility of central SOEs, and firmly following the road of high-quality development and green development. After the signing of this Letter of Intent, China BlueChem will work with Geely Commercial Vehicle to jointly promote and carry out major project cooperation, especially in the synergistic development of green methanol and other fields, and to take advantage of the resource advantages, industrial base and technology reserves possessed by China BlueChem in green wind power, carbon-rich natural gas, easy-captured CO2, etc., in green fuel-related industries such as green hydrogen preparation and CO2 to methanol. We will jointly promote technological development and the implementation of scientific and technological achievements, and we will carry out in-depth cooperation in building scientific research platforms, industrial promotion and market services, and brand building and promotion at the same time.

Zhou Jianqun, chairman of Geely Commercial Vehicle, said that Geely Commercial Vehicle is a new force in China's commercial vehicle industry and adhering to the development of green and intelligent new energy commercial vehicles, with two technical routes: pure electric power and methanol-hydrogen power. Methanol-hydrogen power is the technology route that Geely has adhered to for 17 years, and it is the best carrier for using hydrogen energy, and it is also another new energy vehicle technology route that does not depend on subsidies and truly achieves commercial application, which is significant for the new energy in China's automotive field. The cooperation with China BlueChem today is a good thing for the country, both from the perspective of energy saving and emission reduction, and from the perspective of ensuring energy security. We hope that on the basis of the consensus on cooperation, both sides can strengthen cooperation and accelerate the popularization and application of methanol-hydrogen powered commercial vehicles.

Methanol is a clean fuel and the lowest cost and safest carrier of hydrogen, which solves the problem of hydrogen storage and transportation, with good safety and low transportation cost. 2019, eight national ministries and commissions jointly issued a document to support the promotion of the application of methanol in automobiles. China BlueChem is committed to the efficient, deep and clean utilization of natural gas resources, and continuous development of chemicals with high added value and low-carbon footprint to help achieve the goal of clean and ecological development in the field of energy chemicals and new materials. China BlueChem is one of the largest methanol producers in China with the highest output and energy consumption efficiency, and has a mature production, logistics distribution system of natural gas-based low-carbon methanol in South China, actively promoting green methanol from scientific research to industrialization. Relying on Geely's 17 years of technology accumulation in methanol-hydrogen power, Geely Commercial Vehicle has successfully developed a number of methanol heavy trucks and put them into batch operation, and the maturity of the product technology and the scale of product launch are at the international leading level. With methanol-hydrogen power as the core, Geely Commercial Vehicle is accelerating the promotion of methanol-hydrogen powered commercial vehicles that are in line with China's reality and national conditions and constructing a complete green methanol transport capacity ecology of methanol, transport, station and vehicle.

Through this contract, both sides will carry out practical on the implementation of carbon-neutral green methanol, new materials for vehicles and new energy vehicles fueled by methanol, jointly promote the development of low-carbon and high-value, and the compatibility of the related industry chain, give full play to their respective industrial advantages, explore the innovative development of methanol in industry and technology, expand the green methanol ecosystem, seize the opportunity of green development, and conduct the national strategy.