United Hydrogen and Indel Petro Sign Agreement to Develop a Hydrogen Project Chain in Vietnam

Ho Chi Minh City, September 26, 2025 – United Hydrogen (UH2) and Indel Petro have officially signed a Memorandum of Understanding (MoU) to advance the development of a hydrogen production project chain in Gia Lai and Khanh Hoa provinces, contributing to the expansion of Vietnam’s clean energy ecosystem and the broader ASEAN hydrogen economy.

Under the MoU, the Parties agreed as follows:

• United Hydrogen (UH2) will provide technology, conduct feasibility studies, and facilitate connections to international financing.

• Indel Petro will contribute land, permits, and logistical support for project implementation.

The Parties will carry out joint feasibility studies to guide phased investment and ensure efficient and sustainable implementation. The MoU is valid for four (4) years and may be renewed.

Speaking at the signing ceremony, Ms. Ma Xia, President & CEO of United Hydrogen, emphasized:

“We are honored to partner with Indel Petro to develop a hydrogen project chain in Vietnam – a strategic step toward making hydrogen a cornerstone of the region’s energy transition.”

About Indel Petro

Indel Petro (Indel Investment and Development JSC) is an energy company operating across both traditional petroleum distribution and renewable energy development, including green hydrogen and LNG.

The company manages a nationwide network of petroleum retail stations while investing in renewable energy infrastructure such as green hydrogen–ammonia complexes, LNG receiving terminals, and wind power supply chains.

Key activities of Indel Petro include:

• Traditional Petroleum Business: Distribution of high-quality petroleum products, including RON 92, RON 95 gasoline, diesel, and industrial lubricants.

• Renewable Energy Development:

  • Green Hydrogen and Green Ammonia: Developing production complexes in Van Phong Economic Zone, powered by wind and solar energy.

  • LNG and Gas-to-Power: Investing in large-scale LNG receiving terminals to fuel gas-fired power plants.

  • Wind Power: Partnering in wind turbine manufacturing and localizing components to reduce investment costs.

• Infrastructure & Related Services:

  • Building fuel stations and retail chain systems.

  • Developing LNG ports and related logistics.

  • Offering integrated energy solutions and fuel delivery services.

  • Investing in other infrastructure projects, such as the Ninh Co Port Economic Zone.

• Human Resource Development: Establishing the Renewable Energy Academy (RE Academy) to train engineers and technicians for the new energy sector.