(Yicai Global) March 26 -- Chinese battery maker Shenzhen Center Power Tech has signed a CNY22.5 million (USD3.2 million) deal to provide the fuel cells for Guangzhou's first batch of hydrogen-powered buses, the firm said today.

Center Power will supply the fuel cell engines and on-board hydrogen supply devices for 15 buses ordered by one of Guangzhou Public Transport Group's bus operators, a company executive told investors last week. Nanjing-based Skywell New Energy Automobile Group will make the buses for CNY37.5 million (USD5.3 million), he added.

The fuel cells can be delivered this quarter, Center Power said, reflecting positively on the listed company's performance in the period.

A leading manufacturer of lithium-ion and lead-acid batteries, in recent years Center Power has been investing heavily in hydrogen, one of the cleanest forms of energy, to ensure its competitiveness. Another unit signed contracts in November to introduce 1,800 hydrogen-powered cars into the market over the next three years.

The Shenzhen-based company's stock price [SHE:002733] closed 1.4 percent higher today at CNY21.60 (USD3).

Editor: Kim Taylor