Japan Sets Aside $3.4B for Hydrogen R&D

Yuka Obayashi
Tuesday, May 18, 2021

The Japanese government said on Tuesday it will allocate up to 370 billion yen ($3.4 billion) from its green innovation fund for two projects to accelerate research and development (R&D) and promotion of hydrogen use over the next 10 years.

Japan unveiled an ambitious goal in December to boost the country's demand for hydrogen to 3 million tonnes a year by 2030, from about 2 million tonnes currently, and to 20 million tonnes by 2050.

New Energy and Industrial Technology Development Organization (NEDO), a state-owned R&D agency, on Tuesday started accepting applications for two hydrogen projects, the industry ministry said.

One will be an up to 300 billion yen project to create a large-scale supply chain of hydrogen and promote demand for the clean fuel. The other 70 billion yen project will develop a large-scale, cost efficient hydrogen production system by water electrolysis using electricity derived from renewable energy sources, the ministry said.

The two projects will be funded from the government's 2 trillion yen green innovation fund created to help the country achieve its 2050 target of becoming carbon neutral.

They are the first of 18 potential projects announced by the ministry last month to support R&D, by tapping into the government's fund.

Hydrogen, long used as rocket fuel, is mostly extracted from natural gas or coal. It is mainly utilised in oil refining and to produce ammonia for fertilisers but future demand is expected to come from broader segments including transport, building and power generation.

Details of other R&D projects to tap the government fund, including lowering the cost of offshore wind farms and building a supply chain of fuel ammonia, will be decided by the autumn, an official at the industry ministry said. 

($1 = 108.8600 yen) 

(Reporting by Yuka Obayashi; Editing by Susan Fenton)

Categories: Energy Renewable Energy Industry News Activity Hydrogen

Related Stories

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

Fire Contained at Vietnamese Oil Platform Undergoing Decommissioning (Video)

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Indonesia Grants Approval to Kuwaiti Firm for Anambas Block in Natuna Sea

ADNOC’s XRG Partners Up with Petronas for Offshore Gas Block in Caspian Sea

Valeura Energy Greenlights Wassana Oil Field Redevelopment off Thailand

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Current News

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com