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Japan Hydrogen Fund raises $400 mn for building low-carbon H2 value chain

Source: Japan Hydrogen Association

Backed by investors from banking, hydrocarbon and automotive sectors, the first-ever Japan Hydrogen Fund has been officially launched with over $400 million committed capital for establishing a hydrogen supply chain in Japan and beyond. 

Managed by Advantaged Partners (AP) and led by the Japan Hydrogen Association (JH2A), the fund has received support from Japanese firms such as Toyota, Iwatani, Sumitomo Mitsui Banking, MUFG Bank, Tokyo Century, Japan Green Investment Corporation for Carbon Neutrality and the Bank of Fukoka, along with MNCs such as TotalEnergies. 

The fund aims to provide hydrogen supply chain companies and projects with necessary funds through collaborating extensively with public and private institutions. The investments will broadly support hydrogen production, storage, transportation and use facilities.

The dedicated hydrogen fund has been established after a series of consultations between JH2A and AP since September last year. The objectives of the fund is to create demand for hydrogen, reduce costs and support businesses in the hydrogen value chains across the globe. 

Hiroshi Fukushima, Secretary General of JH2A, commented on the development, "The establishment of this fund has been a long-cherished wish of JH2A since its establishment". 

"In addition to the promotion of hydrogen projects by private companies and regions and policy support…we hope to contribute to the support of the social implementation of hydrogen through the supply of funds…and contribute to the realization of a hydrogen society", he added. 

Japan is one of the leading markets of hydrogen ecosystem development in the region. The country recently passed the Hydrogen Society Promotion Act that promises a 15-year subsidy for low-carbon hydrogen either produced locally or imported from neighboring countries.

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EU, Japan to deepen cooperation on hydrogen investments, supply chain

A close cooperation between European Union (EU) and Japan will be essential for promoting renewable and low-carbon hydrogen globally and ensuring standards and regulation converge, said Kadri Simson, the European Commissioner for Energy at the EU-Japan High-Level Hydrogen Business Forum today.
Author : Dhiyanesh Ravichandran
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