We have entered into a joint venture with Thunip Corporation Ltd., creating a Chinese company that will deliver our products locally within China.
Hydro International CEO Ian Powell and Thunip Corporation Ltd President Xingwen Li signed the contract in Yancheng, Jiangsu Province, paving the way for the establishment of an equity joint venture (EJV) company. The EJV will be managed by Clive Evans, our Managing Director for Africa, the Middle East and Asia.
Thunip have been our local distribution partner for three years, and the new EJV builds on that successful partnership by creating a Chinese business that will deliver our water management expertise directly from within the world’s largest economy.
Years of rapid economic growth have damaged China’s environment, and its waterways have suffered both from industrial pollution and the effects of population growth and increased urbanization. The Chinese government has recognized the need to clean up its rivers and lakes, alongside its “Sponge Cities” initiative which is part of the Chinese government’s 13th Five-Year Environmental Plan.
The installation of a trial Hydro International Storm King® combined sewer overflow treatment system in Chaohu Lake in Anhui province in 2016 is one example of that progress.
Under these conditions the formation of the EJV represents an opportunity for China to adopt reliable water management technologies that are proven to mitigate flooding, remove stormwater pollutants and improve wastewater treatment effectiveness.
“China’s environmental challenges are well known, as is its government’s desire to address them. This joint venture combines our technology and engineering expertise with Thunip’s local insight to create a business that can act quickly to meet those challenges and help China to drastically improve its water management systems and processes. This demonstrates our commitment to China.” - Ian Powell, CEO of Hydro International
“We believe that by combining Hydro International’s technology and Thunip’s marketing, our Joint Venture will become a pioneer of ‘Sponge Cities’ in the industry and will earn a big share of the Chinese market very soon. We also have faith that the driving force the of Chinese market will accelerate Hydro International’s technology innovation, helping it to become an even more effective international water management company.” - Xingwen Li, CEO of Thunip