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    7012   JP3224200000

KAWASAKI HEAVY INDUSTRIES, LTD.

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Japan, Australia firms look to build large-scale green liquefied hydrogen supply chain

09/15/2021 | 06:14am EDT

TOKYO (Reuters) - Japan's biggest hydrogen supplier Iwatani Corp and five other firms said on Wednesday they will study the feasibility of building a green liquefied hydrogen supply chain between Japan and Australia that could produce 100 tonnes a day by around 2026.

Green hydrogen is a zero-carbon fuel made by using renewable power to split water into hydrogen and oxygen. It is increasingly promoted as a way to decarbonise emissions-intensive long haul transport and heavy industry.

Green hydrogen projects are also key to helping Japan meet its target of becoming carbon neutral by 2050.

Iwatani and three other Japanese companies - Kawasaki Heavy Industries Ltd, Kansai Electric Power Co Inc and Marubeni Corp - signed a memorandum of understanding with two Australian energy infrastructure firms, Stanwell Corp and APT Management Services Pty Ltd, for the Central Queensland Hydrogen Project.

The project will produce hydrogen on a large scale using renewable energy, liquefy it at the Port of Gladstone in Queensland, Australia, and then export the liquefied hydrogen to Japan.

It aims to produce and supply low-cost hydrogen reliably over the long-term, with goals of producing at least 100 tonnes of hydrogen a day around 2026, and 800 tonnes a day from 2031, they said in a statement.

The current production volume of liquefied hydrogen in Japan is up to 30 tonnes a day.

The use of the 235-hectares Aldoga site, a hydrogen production base secured by Stanwell in the Gladstone region, and a site of about 100 hectares in Fisherman's Landing to be acquired as a hydrogen liquefaction and loading base, will be considered for the project, they said.

The project will also consider supplying green hydrogen to meet local demand.

The feasibility study will focus on examinations of production technology for green hydrogen, construction of hydrogen liquefaction plants and liquefied hydrogen carriers, associated finance and environmental assessments, and commercialization models.

(Reporting by Yuka Obayashi; Editing by Simon Cameron-Moore)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IWATANI CORPORATION 0.60% 6710 End-of-day quote.5.50%
KAWASAKI HEAVY INDUSTRIES, LTD. -1.28% 2310 End-of-day quote.-0.60%
MARUBENI CORPORATION -2.47% 952.5 End-of-day quote.38.83%
THE KANSAI ELECTRIC POWER COMPANY, INCORPORATED -2.50% 1032 End-of-day quote.5.99%
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Financials
Sales 2022 1 541 B 13 566 M 13 566 M
Net income 2022 22 362 M 197 M 197 M
Net Debt 2022 405 B 3 566 M 3 566 M
P/E ratio 2022 17,5x
Yield 2022 1,45%
Capitalization 393 B 3 452 M 3 458 M
EV / Sales 2022 0,52x
EV / Sales 2023 0,52x
Nbr of Employees 36 691
Free-Float 91,5%
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Number of Analysts 11
Last Close Price 2 340,00 JPY
Average target price 2 688,18 JPY
Spread / Average Target 14,9%
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Yoshinori Kanehana Chairman
Hiroshi Nakatani Director, GM-Technology & Development
Akio Nekoshima Independent Outside Director
Yoshiaki Tamura Independent Outside Director
Jenifer Rogers Independent Outside Director
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