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Wednesday, 14 October 2020, 13:06 HKT/SGT
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Source: Toyota Motor Corporation
Toyota: Launch of a Preparatory Committee for "Japan Hydrogen Association (JH2A)"

Toyota City, Japan, Oct 14, 2020 - (JCN Newswire) - The nine private companies (listed below) that are engaged in the construction and expansion of a hydrogen society announce that they are launching a new preparatory committee called "JAPAN Hydrogen association (JH2A)" to promote the formation of a hydrogen supply chain and global partnerships in the hydrogen sector. With hydrogen anticipated to play an important and central role in curbing global warming, Japan is expected to continue to take the lead globally through innovative steps. By establishing a hydrogen society as well as partnering with various stakeholders, JH2A will look to cultivate the hydrogen industry and promote initiatives toward its development. Working together with other companies, local governments, and organizations who are willing to support such initiatives, the preparatory committee aims to establish a new organization at the beginning of December.

Members of the preparatory committee (in alphabetical order)

ENEOS Corporation, Iwatani Corporation*, Kawasaki Heavy Industries, Ltd., Kobe Steel, Ltd., MITSUI & CO., Ltd., Sumitomo Mitsui Financial Group, Inc.*, The Kansai Electric Power Company, Inc., Toshiba Corporation, Toyota Motor Corporation*

Aim & scope of the activities of the new committee

The new JAPAN Hydrogen association will partner and collaborate with existing businesses and organizations as it works toward constructing the hydrogen value chain. JH2A will create plans on providing functions to promote initiatives, coordinate with external stakeholders, and conduct research.

- Engage in cross-sectoral initiatives to establish the hydrogen value chain
- Accelerate developments toward social implementation to realize a hydrogen society
- Promote the establishment of systems for the supply of funds with financial institutions

Background of the new committee

As many countries accelerate initiatives toward realizing a hydrogen society, possibilities and issues related to promoting the use of hydrogen to reduce CO2 emissions have been debated in Japan. Various corporations are partnering for the expansion of demand of hydrogen, the supply of low cost hydrogen, and promotion of the use of hydrogen. The above-mentioned member companies have recognized the need for a cross-sectoral organization that aims to resolve the issues of creating demand in hydrogen, reducing cost through scale-up of hydrogen use and technological innovation, along with the supply of funds to businesses, and have become to consider concrete steps toward establishing this new committee.

*Indicates companies with secretarial roles

About Toyota Motor Corporation

Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

Source: Toyota Motor Corporation

Topic: Press release summary
Sectors: Automotive
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