Mitsui O.S.K. Lines, Ltd. (MOL), ITOCHU Corporation, HIF Asia Pacific Pty Ltd, and JFE Steel Corporation have inked a Memorandum of Understanding (MoU) to explore the establishment of a supply chain for synthetic fuel and CO₂ marine transport using green hydrogen. This collaboration signifies a major leap in the efforts to decarbonize the maritime industry.
Green Hydrogen as a Catalyst for Sustainable Transport
The four companies outlined a comprehensive feasibility study, encompassing key aspects such as carbon dioxide (CO2) capture in Japan, shipping the CO2 to Australia, production and storage of synthetic fuel (e-fuel) derived from the CO2 in Australia, and the creation of a comprehensive supply chain, including the export of e-fuel from Australia.
Roles Defined for Seamless Collaboration
Each company brings its unique expertise to the table:
Understanding E-fuel: A Green Transition Solution
E-fuel, the focal point of this collaboration, is a liquid fuel synthesized from hydrogen produced via renewable energy sources and CO2. Unlike conventional fuels, e-fuel leverages existing infrastructure such as vessels, lorries, storage tanks, and fueling stations. Additionally, it can power automobiles, aircraft, and vessels without the need for extensive modifications, making it an attractive early decarbonization measure.
Aiming for a Decarbonized Society
By harnessing their networks in Japan and overseas, coupled with their collective knowledge gained through business endeavors in Australia, MOL, ITOCHU, HIF, and JFE Steel aspire to establish an e-fuel supply chain. The initial focus will be on studying its application at JFE Steel, paving the way for broader adoption in the maritime and industrial sectors.
This collaboration underscores a commitment to sustainable practices and marks a significant step forward in the global pursuit of a decarbonized society. As the maritime industry navigates towards a greener future, the amalgamation of these industry giants promises a transformative impact on how we approach marine transport and environmental conservation.