稳石氢能：已签订单21MW，携发电企业挖掘氢能应用新机

Core Viewpoint - AEM hydrogen production technology is transitioning from laboratory to commercial application, facing several technical and economic challenges that need to be addressed for large-scale deployment [2][3][14]. Technical Challenges - AEM hydrogen production technology faces key challenges including the performance of AEM membranes, which require improvements in ion conductivity, chemical stability, and mechanical strength [2][3][14]. - Non-precious metal catalysts, while reducing reliance on precious metals, still fall short in activity and durability compared to practical requirements [2][3]. - Issues related to electrolyzer design, gas-tight management, and the separation of anode and cathode gases also limit efficiency and lifespan [2][3]. Economic Constraints - High electricity costs significantly impact the economic viability of AEM hydrogen production, especially in the context of rising green electricity costs [3]. - The supply chain for key materials like membranes and catalysts is not yet mature, leading to high production costs and initial investments [3]. - The AEM hydrogen production industry lacks a mature ecosystem, with insufficient collaboration across material supply, component manufacturing, and system integration [3]. Company Overview - Shenzhen Wenshi Hydrogen Energy Technology Co., Ltd. focuses on high-end technology equipment development and manufacturing in the hydrogen energy industry, holding over 30 national invention and utility model patents [5]. - The company has achieved significant advancements in AEM membrane, catalyst, membrane electrode, and electrolyzer system development, with 100% proprietary intellectual property rights [5]. Product Development - Wenshi Hydrogen Energy has developed two types of AEM membranes and plans to achieve mass production by the end of this year or early next year, with a production capacity of over 100,000 square meters per year [10]. - The company has automated production lines for cobalt-nickel spinel catalysts, with a coating capacity of up to 10,000 square meters per year [10]. - The company has also achieved mass production of 2.5 kW and 10 kW electrolyzers, with plans for larger models [10]. Performance and Stability - Wenshi Hydrogen Energy's AEM membranes have undergone over 5,000 hours of commercial validation, demonstrating excellent performance with an ion conductivity of at least 80 mS/cm at 25°C and over 164 mS/cm at 80°C [11]. - The membranes exhibit low degradation rates and high mechanical strength, ensuring durability and stability under operational conditions [11]. Market Applications - The company's products are applicable in various scenarios, including hydrogen production stations, chemical synthesis, green hydrogen metallurgy, and energy storage [19]. - AEM technology is expected to see significant adoption in integrated hydrogen production stations due to its safety and cost advantages compared to other technologies [19]. Future Development Plans - Wenshi Hydrogen Energy plans to focus on optimizing its products for integration with renewable energy sources like solar and wind, emphasizing application-oriented research and development [23].