Japan – Iwatani Corporation, Toyota Tsusho Corporation, and JGC Holdings Corporation have inked a preliminary agreement to investigate a joint venture in the Nagoya Port area of Aichi Prefecture to produce low-carbon hydrogen utilizing waste plastic gasification facilities.
Following selection as a commissioned project of the New Energy and Industrial Technology Development Organization (NEDO) in December 2021: 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, studies for this business have already begun.
According to the study results, the Chubu Region has high potential for waste plastic collecting as well as hydrogen production and consumption; hence, the three firms have agreed to explore the joint venture of a low carbon hydrogen manufacturing business. With the signing of this basic agreement, the three companies will shortly begin preliminary design work, with the goal of starting hydrogen production in the mid-2020s.
The use of waste plastics will enable a consistent and low-cost supply of hydrogen, bringing us closer to a carbon-neutral society; promote hydrogen use in areas such as power plants, which have a pressing need to reduce CO2 emissions, various mobility services, and port facilities; and contribute to factory decarbonization. The three companies will promote the use of hydrogen in many industries through this joint venture in order to move closer to a hydrogen energy-based society while also contributing to a carbon-neutral society and supporting resource recycling.