Mitsubishi Hitachi Power Systems (MHPS) and Zhejiang Feida Environmental Science & Technology (FEIDA), the manufacturer of electrostatic precipitators (ESP) in China, have signed an agreement to launch a full-fledged environmental business joint venture.
As part of the agreement, the two companies will jointly establish a new company that will focus on environmental system business development.
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The joint venture company will provide comprehensive flue gas treatment solutions for the removal of PM2.5 particulate matter and other pollutants emitted by coal-fired power plants and other sources.
Tentatively named Zhejiang Feida MHPS High-Efficiency Flue Gas Cleaning Systems Engineering, the new Hangzhou-based company will initially employ around 40 people and will be capitalised at $6.66m (approximately CNY680m).
The equally-owned joint venture will be headed by an executive from MHPS and is expected to begin operations this autumn.
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Additionally, the joint venture will develop and market technologies and products in China, using high-performance environmental system technologies from parent companies, intended to eliminate airborne pollutants such as PM2.5 fine particulate matter.
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By GlobalDataIn addition to supporting the new joint venture’s business development, MHPS will contribute to the efforts of China to address environmental issues by enhancing FEIDA’s and MHPS’ relationship.
Advanced low-temperature ESP technology will be contributed by FEIDA for the joint venture.
China, which has installed capacity of coal-fired power plants of approximately 750GW, is planning to increase coal-fired power generation capacity by 50GW to 60GW per annum.
The government is also strengthening emission control rules with much focus on wide-spread adoption of high-performance pollutant removal systems.
Image: Illustration of high-performance smoke dust removal systems. Photo: courtesy of MITSUBISHI HITACHI POWER SYSTEMS.
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