Sinopec, one of China's prominent state-owned enterprises in the oil and gas sector, has announced the launch of a specialized venture capital fund focusing on hydrogen energy with an initial investment of $690 million. This fund, considered to be the largest in China dedicated to hydrogen, aims to support early-stage ventures and the advancement of crucial materials, equipment, and cutting-edge technologies essential to the hydrogen value chain. Operating as a subsidiary of Sinopec Capital Co., the fund has also partnered with external entities like Shandong New Growth Drivers Fund Management Co. and Yantai Guofeng Investment Holding Group Co. Notably, Sinopec has already secured equity stakes in 13 companies operating within the hydrogen energy value chain, showcasing a commitment to investing in this emerging sector. Additionally, the company has set up 11 hydrogen supply centers for fuel cells and established 144 hydrogen refueling stations throughout China, indicating a strategic push towards promoting hydrogen as a clean energy alternative in the country.