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TOKYO, Oct 4, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce today's signing of a Memorandum of Understanding (MOU) with Chiyoda Corporation (Chiyoda) and Sembcorp Industries (Sembcorp), to explore the feasibility and implementation of a commercial-scale, decarbonized hydrogen supply chain in Singapore. The business will take advantage of Chiyoda's proven hydrogen storage and transportation technology, "SPERA Hydrogen".
Singapore's Long-Term Low-Emissions Development Strategy (LEDS) aspires to halve emissions from the country's expected 2030 peak to 33 million tons of CO2 equivalent by 2050, with a goal to achieve net-zero emissions as soon as possible in the second half of the century. Singapore has positioned the introduction of hydrogen and low-carbon technologies as significant initiatives to achieve this goal. By promoting such initiatives, Singapore is aiming to transition to an enhanced energy system that balances environmental and economic considerations with reliability and sustainability.
In May, 2021, the Japanese Government announced the Asia Energy Transition Initiative (AETI) that aims to support the achievement of sustainable economic growth and carbon neutrality in Asia, and the governments of Japan and Singapore have commenced dialogue on energy transition. Under the AETI, Japan will support Singapore's energy transition leveraged by Japanese companies' technology, such as Chiyoda's "SPERA Hydrogen" and commercialization thereof.
In signing this MOU, the business will combine Sembcorp's know-how in energy with both Chiyoda's above mentioned technology and MC's project development expertise and industry-wide global network. Furthermore, although we will be building this supply chain to serve Singapore's market, we intend to source clean, carbon-free hydrogen from outside the country.
MC is keen to accelerate activities that are invested in energy transformations, and this MOU represents a step in the right direction. Our objectives through this business are to help Singapore to meet its long-term CO2 reduction target and contribute to global decarbonization efforts that aim to realize a sustainable future.
*SPERA Hydrogen is an organic chemical hydride (OCH) hydrogen storage and transportation technology. LOHC (liquid organic hydrogen carrier) technologies allow hydrogen to be safely transported in chemical tankers at normal atmospheric temperature and pressure.
Topic: Press release summary
Source: Mitsubishi Corporation
Sectors: Energy, Alternatives
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From the Asia Corporate News Network
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