According to the Letter of Intent, which was described in a press release on the day of signing, Impact Coatings was appointed a strategic supplier of PVD coating equipment to Boyuan. At the same time, Impact Coatings committed to the continued development of coating materials, equipment, and processes for metal bipolar plates for fuel cells. The delivery that has now been completed is in line with this Letter of Intent.

“For us, it is natural to continuously develop our offering to support our partners and customers so they can remain competitive in the market. The market for hydrogen and fuel cells in mobility applications is still in early phase and dependent on governmental support. China continues to invest in this area and is actively creating a market. According to a recently released new roadmap for fuel cell electrical vehicles in China, the volumes are expected to grow in coming years, primarily for commercial vehicles. By reducing costs and increasing productivity, we help our customers and partners remain competitive in the long term, even in a market that must ultimately operate entirely on commercial terms,” said Jonas Nilsson, CEO at Impact Coatings.