9 June 2022
HG collaborating with China Titans Energy on GaN-based fast-charging
Hong Kong-based HG Semiconductor Ltd has entered into a framework agreement with China Titans Energy Technology Group Co Ltd to commence a three-year strategic cooperation on fast-charging pile (station) technology promotion and product sales in mainland China and Hong Kong.
HG Semiconductor designs, develops and manufactures LED beads as well as gallium nitride (GaN) chips, GaN components and fast-charging products, focusing primarily on China. Leveraging its expertise in LED manufacturing, HG is accelerating its R&D and expansion into GaN-related products. In 2021, HG obtained six fast-charging battery system patents for charging stations, charging conversion systems, charging modules and fast-charging equipment for electric vehicle (EV) charging stations.
China Titans Energy focuses on developing power electronics and automation control to address the needs of power transformation, supervision, control, optimization, energy saving and new energy utilization.
In the strategic cooperation, China Titans Energy will provide support for HG to build fast-charging pile products, run fast-charging pile services in Hong Kong and jointly launch fast-charging system solutions.
The cooperation provides HG with the opportunity to commercialize its fast-charging battery products under its own brand in mainland China and Hong Kong, and accelerate its ramp-up of production capacity. With the growing popularity of EVs in mainland China and Hong Kong, the development and commercialization of next-generation charging piles in both places is reckoned to be a promising business prospect. HG aims to explore establishing a business presence in Hong Kong for fast-charging battery solutions.
Both HG and China Titans Energy intend to leverage the advantage of HG being in cooperation with a statutory body in Hong Kong, to jointly promote the development of the Hong Kong smart city and provide upgrades to EVs and charging facilities in Hong Kong, in order to achieve the international standard of 400kW direct current charging, data on the cloud, safety monitoring etc for smart management. The new energy fast-charging solution is expected to help to create a new local business model and investment opportunities in Hong Kong, such as constructing a vehicle-to-grid (V2G) energy network, distributed energy storage and grid-level direct current electrical substation.
Under China’s Fourteenth Five-Year Plan, the ‘New-Energy Vehicle Industry Development Plan for 2021-2035’ has deployed five strategic tasks, including (1) improving technological innovation capability, (2) constructing a new industrial ecology, (3) promoting industrial integration development, (4) improving the infrastructure system, and (5) deepening open cooperation. At the same time, the development plan explicitly pointed out the necessity of establishing a technological innovation system with enterprises as the main body, strengthening infrastructure such as charging and replacing, while the battery management system and batteries are also recognized as key technologies.
Meanwhile, the Hong Kong government has also announced a roadmap for the popularization of electric vehicles, aiming to achieve zero emissions for all vehicles by 2050.