File Photo: Zhang Lei, CEO of Envision Group. [Photo/WeChat account: fabujiangyin]
Zhang Lei, CEO of Envision Group, participated in a discussion on establishing a supply and demand relationship for green hydrogen energy via video during the Boao Forum for Asia Annual Conference 2022 on April 20.
Zhang proposed transforming wind power into "new coal", hydrogen energy into "new oil", and internet of things into a "new power grid" with the help of technological innovation.
He said that hydrogen energy has already made its debut as a "new oil" and green hydrogen is cheaper than natural gas.
Zhang added the zero-carbon industrial park built by Envision uses low-cost green electricity generated by solar and wind energy to produce green hydrogen and other environmentally-friendly chemical products.
A rendering of Envision Group's zero-carbon industrial park. [Photo/WeChat account: fabujiangyin]
Envision will replicate its zero-carbon industrial park in Europe, Australia, the Middle East, and Southeast Asia, and over the following 10 years the company will establish 100 such industrial parks around the world, according to Zhang.
He noted that by 2030, these zero-carbon industrial parks will reduce carbon emission by 1 billion metric tons per year.
Zhang also revealed that Envision will cooperate with Australia-based Fortescue Metals Group Ltd to produce 10 million tons of green hydrogen by 2030.
As a green technology company, Envision also established a challenging target for itself. Last year the company promised to achieve carbon neutrality in its operations in 2022 and carbon neutrality in its whole value chain by 2028, making it one of the first Chinese companies to make such a commitment.
