易德投资：评估氢能行业投资机会

This case focuses on the booming hydrogen energy industry. It introduces the original vision of Yield Capital Partners LLC ("Yield Capital") before exploring how the firm tapped into the markets for hydrogen-powered transportation, precision medicine, new materials, and data information against the backdrop of improved original innovation capabilities and increasing use of technology in industrialization worldwide. As "carbon neutrality" became a popular topic amid China's industrialization and economic transformation, Yield Capital, leveraged the forward-looking vision of Beijing Tsinghua Industrial R&D Institute (BTIRDI) to invest in core links in the hydrogen industry chain and key hydrogen energy projects before the blue ocean turned red: Yield Capital not only developed hydrogen-fueled vehicles and core hydrogen technologies, but also worked with other players in the industry chain to customize comprehensive transportation solutions to the desires of leading logistics providers like JD.com and Cainiao. However, as China was a latecomer to the hydrogen energy market, there was a scarcity of relevant basic research, making it difficult to reap significant economic value from the industry chain. Accordingly, it was challenging for Yield Capital to promote the commercialization of hydrogen energy in China.