Sembcorp has entered into strategic partnerships with the Japanese government and various corporations, to progress hydrogen and other decarbonisation initiatives.
The collaborations signed will enable Sembcorp to access and leverage Japan’s highly advanced technology in hydrogen development and deployment. The partnerships inked include:
- A Memorandum of Understanding (MOU) with the Japan Bank for International Cooperation (JBIC), for JBIC to support projects developed by Sembcorp and Japanese companies, with a focus on green hydrogen and ammonia.
- An MOU with Sojitz Corporation (Sojitz) to partner on new renewable energy projects, including green hydrogen production, battery energy storage systems, and net zero industrial parks, in Asia Pacific.
- An MOU with IHI Corporation (IHI) to collaborate on an integrated green ammonia supply chain, both upstream and downstream.
- Advancing the development of hydrogen imports via methylcyclohexane, a type of liquid organic hydrogen carrier, with the commencement of Pre-FEED studies. This is a key milestone under the MOU with Mitsubishi Corporation (Mitsubishi) and Chiyoda Corporation (Chiyoda) signed in October 2021.
The partnerships forged align with Sembcorp’s brown to green transformation, and will enable us to play a pivotal role in the decarbonisation of various industries, including power
Wong Kim Yin, Group President & CEO, Sembcorp Industries, said.
Sembcorp’s various partnerships inked today will underpin the Singapore government’s ambitions for low-carbon hydrogen to potentially support up to 50% of its power needs by 2050.
The signed partnerships are not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2022.
