Japan’s Mitsubishi Heavy Industries [7011:JP] is in talks with US utility firm Bakken Energy on clean hydrogen projects with an annual capacity of over 300,000 tons, as reported by Nikkei Asia on April 5. Mitsubishi Heavy Industries is planning to invest in and participate in the construction of the USD2bn project, which will come into operation in 2027. The two businesses will reuse a North Dakota chemical factory to extract hydrogen from natural gas. The state of North Dakota stated to financially support the projects with USD10m in subsidies and USD80m in low-interest loans.
Mitsubishi Heavy Industries is seeking to decarbonize its business by establishing an international hydrogen supply chain involving production, transportation and storage. On June 14, 2021, the group announced that it would commercialize hydrogen-burning heavy-duty gas turbines by 2030, without carbon dioxide (CO2) emitted during power generation. In the same month, its Asia Pacific unit announced a partnership with Singapore-based Keppel Data Centers Holding to implement a hydrogen-powered third-generation plant concept for data centers in Singapore. The partnership will explore how hydrogen-powered data centers can meet the demands of the growing digital economy while remaining secure, reliable, and environmental-friendly. Moreover, Mitsubishi Power, the power solutions division of Mitsubishi Heavy Industries, stated in February that it would construct the world’s first hydrogen park to validate hydrogen manufacturing and power generation techniques. The center will be put in use in 2025 and will commercialize small and large gas turbines.