Pedro Sánchez announces an investment commitment of over a billion euros for Spain from Envision Energy

Shanghai (China)

The Chief Executive, who continued his visit to the People's Republic of China in Shanghai, visited the headquarters of the company Envision together with the Spanish business delegation accompanying him.

During his visit, a Memorandum of Understanding was adopted between Envision Energy and the Spanish Ministry of Industry, with a commitment to invest 1 billion dollars, together with other business partners, to develop an electrolyser production plant in Spain. This plant would generate over 1,000 direct and indirect jobs.

The President of the Government of Spain stressed that agreements such as the one signed provide the impetus we need to forge on with a transformative chapter in Spain's industrial history. "You are not only contributing to our economy. You are helping us to build the future, to build a better future," emphasised Pedro Sánchez.

He also highlighted that Envision's commitment and its cutting-edge technology will strengthen Spain's position in the race to develop the green hydrogen value chain, a project that will contribute to boosting Spain's leadership in this area and make progress towards achieving greenhouse gas reduction targets.

Pedro Sánchez also held a bilateral meeting with the CEO and founder of Envision, Lei Zhang, with whom he discussed both this new investment and progress in constructing the gigafactory in Navalmoral de la Mata.

Non official translation