Kawasaki Heavy, Iwatani tie up with Fortescue to develop supply chain of green hydrogen
14/12/2020 05:57
TOKYO, Dec 14 (Reuters) - Japan's Kawasaki Heavy Industries
Ltd 7012.T and Iwatani Corp 8088.T said on Monday they have
signed a memorandum of understanding (MoU) with Australian miner
Fortescue Metals Group Ltd FMG.AX to develop a supply chain of
"green" hydrogen.
"Green" hydrogen is a zero-carbon fuel made by electrolysis,
using renewable power from wind and solar to split water into
hydrogen and oxygen. It is increasingly being touted as a way to
decarbonise emissions-intensive heavy industry and transport
sectors.
The move comes as Japan makes a big push to accelerate
hydrogen development as Prime Minister Yoshihide Suga declared
an ambitious target of becoming carbon neutral in 2050.
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More than $150 billion worth of "green" hydrogen projects
have been announced globally in the past nine months.
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Kawasaki Heavy, Iwatani and global iron ore miner Fortescue
will investigate the creation of integrated liquefied hydrogen
supply chains, encompassing hydrogen production from renewable
energy such as solar and wind power in Australia or other areas,
and to be transported by a ship for delivery and distribution in
Japan.
Kawasaki makes equipment to liquefy, transport and store
hydrogen, and Iwatani supplies liquefied hydrogen in Japan,
while Fortescue is pursuing new opportunities in reneweble
energy and green industries.
Japan is the world's fifth-biggest emitter of carbon
dioxide, and while steps are being taken to increase renewable
energy, it also plans to roll out new coal-burning power
stations.
(Reporting by Yuka Obayashi, Editing by Sherry Jacob-Phillips)
((Yuka.Obayashi@thomsonreuters.com; +813-4563-2761;))