Iwatani Corporation, Toyota Tsusho Corporation, and JGC Holdings Corporation have inked a basic agreement to investigate a joint venture on low carbon hydrogen production using waste plastic gasification facilities in the Nagoya Port area of Aichi Prefecture.
Following selection as a commissioned project by the New Energy and Industrial Technology Development Organization (NEDO) in December 2021, studies for the following venture have already started: Technology Development Project for Building a Hydrogen-based Society/Technology Development for Hydrogen Utilization in the Community/Study of Potential for Hydrogen Production and Utilization.
The three firms have decided to investigate a joint venture of a low carbon hydrogen production business after study results revealed that the Chubu Region has strong potential with respect to waste plastic collection and hydrogen production and consumption. With the signing of this fundamental agreement, the three businesses will shortly start working on the basic designs with the intention of starting hydrogen production by the middle of the 2020s.
Utilizing waste plastics will enable a reliable and affordable supply of hydrogen, bringing us one step closer to a society that is carbon-neutral. It will also encourage the use of hydrogen in places like power plants, which urgently need to cut CO2 emissions, various mobility services, and port facilities, as well as help decarbonize factories. Through this joint venture, the three businesses will encourage the use of hydrogen in a variety of industries to advance toward a society based on hydrogen energy, while also supporting resource recycling and a society that is carbon neutral.