The signing ceremony between the Rugao Economic and Technological Development Zone in Rugao, Nantong and Jiangsu Huili New Energy Technology Co Ltd is held on Nov 28. [Photo/WeChat account: rugaofabu]

Jiangsu Huili New Energy Technology Co Ltd signed an agreement with the Rugao Economic and Technological Development Zone in Rugao, Nantong, Jiangsu province, on Nov 28 to produce hydrogen equipment.

Receiving a total of 500 million yuan ($70.55 million) in investment, the factory will start construction in February 2023. It will produce hydrogen energy valves, hydrogenation guns, flowmeters and scroll compressors.

The factory will help the city develop an innovation center for China's hydrogen energy industry and a high-end equipment manufacturing base, further enhancing the core competitiveness of the city's industrial chain.