What do you do when your core business in the hydrogen-powered vehicle sector isn’t going anywhere fast? You try your hand in another related industry with bigger potential, in this case the equally experimental market for power derived from nuclear fusion.
That appears to be the approach from Jiangsu Guofu Hydrogen Energy Equipment Co. Ltd. (2582.HK), which on Monday announced a winning bid for a nuclear fusion-related project. Nuclear fusion and the green energy vehicle technologies that are Guofu’s main business line both share the common element of being powered by hydrogen. Both technologies also require the ability to cool hydrogen down to super low temperatures when it becomes a liquid instead of a gas.
We’re not scientists, so we can’t really comment on whether being a specialist in hydrogen-powered vehicles qualifies you to pursue hydrogen technology for fusion. China and other countries are pumping huge amounts of money into hydrogen fusion technology, which has the potential to create massive amounts of electricity using the huge energy released through the fusing of two hydrogen atoms to create helium.