势银走访 | 星氢源：FCVA技术可有效解决金属板碳基复合涂层性能、耐久瓶颈

Core Viewpoint - The article discusses the advancements and strategic positioning of Xing Hydrogen Source (Shanghai) Technology Co., Ltd. in the hydrogen energy sector, particularly focusing on their innovative coating technologies for fuel cell components and electrolyzers. Company Overview - Xing Hydrogen Source was established in 2021 and is a subsidiary of Singapore's Nafon Technology, specializing in hydrogen commercialization. The company leverages advanced vacuum coating technology and equipment to develop high-quality fuel cell bipolar plates and electrolyzer components [2][3]. Technological Advantages - The company has developed two main technological advantages: world-class vacuum coating technology and vacuum equipment manufacturing capabilities. They focus on carbon-based composite coating technology to replace expensive gold plating for metal bipolar plates, enhancing corrosion resistance, electrochemical performance, and mechanical properties [2][3]. Innovations in Coating Technology - Xing Hydrogen Source's FCVA technology effectively addresses the challenges of maintaining performance and durability in carbon-based composite coatings. Their coatings outperform precious metals in durability and cost reduction, applicable across various fuel cell scenarios [3][4]. Applications and Collaborations - The company has established deep collaborations with leading global fuel cell enterprises, focusing on applications such as off-grid power supply, backup power for signal towers, construction site power, vending machine power, range-extended engines for two-wheeled vehicles, drone power, and agricultural machinery [4]. Electrolyzer Component Challenges - In the field of proton exchange membrane (PEM) water electrolysis, traditional precious metal coatings face challenges due to high costs and supply chain risks. Xing Hydrogen Source's innovative SydroPEARL coating technology offers a breakthrough by using non-precious materials for key components [6][7]. Performance Metrics - The SydroPEARL coating demonstrates excellent conductivity and low voltage decay rates, with specific metrics such as conductivity at 1.4 MPa being less than 2 mΩ·cm² and voltage decay rates under 10 μV/h at 2 A/cm² [7]. Fuel Cell Bipolar Plates - The SydroDIAMOND coating technology significantly enhances the durability of metal bipolar plates, showing lower degradation compared to reference gold materials during accelerated stress tests, while maintaining high current density performance [8]. Coating Equipment - The FCVA-500RS coating equipment developed by Xing Hydrogen Source features advanced filtration cathode vacuum arc (FCVA) technology, allowing for high corrosion resistance and stable high current density output, with cost reductions of 30-50% by eliminating reliance on scarce precious metals [9][11].