NEWS : Kawasaki Heavy, Iwatani, Fortescue To Develop Supply Chain Of Green Hydrogen

[TOKYO] Japan's Kawasaki Heavy Industries and Iwatani Corp said on Monday they have signed a memorandum of understanding (MOU) with Australian miner Fortescue Metals Group Ltd 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. More than US$150 billion worth of "green" hydrogen projects have been announced globally in the past nine months.

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