Toyota, Mitsubishi to promote sustainable hydrogen

Toyota has joined a number of Japanese companies in exploring the potential uses of hydrogen.

The full list also includes Air Liquide Japan G.K., Chubu Electric Power Co., Inc., Idemitsu Kosan Co., Ltd., Iwatani Corporation, JXTG Nippon Oil & Energy Corporation, Mitsubishi Chemical Corporation, Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Toho Gas Co., Ltd..

The companies have formed a group known rather prosaically as the “Hydrogen Utilization Study Group in Chubu” with the intention of creating demand from hydrogen uses, as well as building a supply chain in Japan’s Central Chubu region.

The collaboration has been spurred by efforts to find a clean, low carbon fuel source, with the Japanese government identifying a hydrogen roadmap as part of its energy transition - the eventual goal being the procurement of 300,000 tons of hydrogen annually by 2030. Potential uses for hydrogen are being explored in energy, petrochemicals, automobiles and finance.

SEE ALSO:

• Startup Spotlight: Pony.ai’s autonomous cars get Toyota push

• Toyota, Panasonic plan JV in booming EV battery market

• Toyota previews autonomous and electric Olympic vehicles

• Read the latest issue of Business Chief, Asia edition, here

In a press release, the company said the group would:

• Conduct scoping study of hydrogen demand from the hydrogen receiving terminals to end users in the Chubu region based on the presumption of large-scale hydrogen transport from overseas.

• Estimate the potential demand of hydrogen in the entire Chubu region, such as in the power generation and oil industries, and in mobility.

• Conduct studies of sustainable hydrogen cost for each industry.

• Clarify the bottleneck on the technical, financial and legal frameworks to realize its business models that will lead to social implementation.

Hydrogen is increasingly being seen as a vital component of the move away from fossil fuels. In February, Korean and American hydrogen organisations signed a memorandum of understanding to further the industry’s position around the world.

(Image: Toyota)