Shanghai (ZXZC)- In celebration of the 20th anniversary, Shanghai Fuel Cell Vehicle Powertrain Co.,Ltd. (called “SFCV” for short), a fuel cell tech developer backed by Great Wall Holdings, launched on Dec. 15 a new hydrogen fuel cell engine dubbed “START - Shenzhou 200” with a rated power of up to 200kW.

SFCV's START-Shenzhen 200 fuel cell engine; photo credit: GWM

As SFCV's four-generation “START” fuel cell engine, the newly-unveiled one features a power density of 760W/kg with an energy efficiency of 60% and a lifespan of over 15,000 hours. Leveraging the innovative HHM (hybrid hydrogen module) technology, it will enable a 10% increase in range over those using the single-pump solution and a great reduction in hydrogen consumption.

In 2001, SFCV was established in Shanghai in response to the national "863 Program Major Special Project for Electric Vehicles" to achieve the goal of realizing the volume production and industrialization of major special projects of electric vehicles, according to SFCV’s introduction posted on its website.

In July 2018, Great Wall Holdings took entire equity interests in SFCV. Later in April 2019, FTXT Energy Technology Co., Ltd. (FTXT) was established in April 2019 as the result of GWM's integration of its hydrogen business and resources, and then became the parent of SFCV with 100% stake held.

In March 2021, FTXT launched its hydrogen strategy under which the company aims to build a world-class supply chain ecosystem integrating the research, production, storage, transport, refueling, and application of hydrogen. Later in August this year, the company output the world's first 100 49-ton hydrogen energy heavy trucks, which have been put into operation in the national FCV demonstration citie clusters led by Beijing and Shanghai. In August, FTXT started the volume production of its in-house developed all-new high-performance membrane electrode.

FTXT A-round financing signing ceremony; photo credit: FTXT

At the 20th anniversary of SFCV, FTXT held its Series-A funding signing ceremony, achieving a total amount of 900 million ($141.45 million) and a post-investment valuation exceeding 4 billion ($628.654 million), setting new records of both scale and valuation of Series-A funding of Chinese hydrogen fuel cell enterprises.

FTXT has already launched its B round financing plan and it steadily pushing ahead with its IPO process.