U Power Establishes Joint Venture for Hydrogen Energy in Thailand's Data Center Market
U Power Limited has formed a joint venture with Guofu Hydrogen Energy and Cloud Digital to develop AI-driven energy solutions for Intelligent Data Centers (IDCs) in Thailand. This initiative aims to tap into the growing IDC market, projected to reach $6.3 billion by 2031, and diversify U Power's revenue through hydrogen energy services.
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U Power Limited has signed an agreement to create a joint venture focusing on hydrogen energy solutions for Intelligent Data Centers (IDCs) in Thailand. U Power will hold a majority stake in the JV, with operations expected to begin within 90 days after initial capital is provided by the partners.
The JV will design integrated energy solutions, develop hydrogen refueling infrastructure, and commercialize hydrogen-powered vehicles. Thailand's IDC market, valued at $1.45 billion in 2025, is forecasted to grow at a CAGR of 27.7%. The partnership aims to leverage U Power's capabilities and Guofuhee's expertise to meet increasing energy demands in Southeast Asia, potentially replicating the operational model in other regions.
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