Mitsubishi Heavy Industries, Ltd. (MHI) and NGK INSULATORS, LTD. (NGK) will jointly develop a hydrogen purification system that uses membrane separation to purify from hydrogen-nitrogen mixture gas after ammonia cracking. The companies expect the technology to contribute to the establishment of a hydrogen and ammonia supply chain enabling high-volume transport.
This joint project aims to build an optimal system for purifying hydrogen using membrane separation from the mixed gas of hydrogen and nitrogen after ammonia cracking. MHI will contribute its significant global expertise delivering ammonia plants and other chemical plants, and its technologies for handling ammonia and hydrogen. NGK will contribute its deep knowledge of subnano ceramic membrane technology and unique film deposition technology developed in the fields of chemical processes and water purification, namely, the world’s largest ceramic membranes, which are known for their exceptional separation accuracy and durability. MHI and NGK are committed to driving the development forward, aiming to achieve early commercialization.
Ammonia is garnering attention today as a hydrogen carrier that enables safe transport and storage of hydrogen, a fuel that emits no CO2 when combusted, in large volumes over great distances. Plans to establish supply chains are underway worldwide, notably in Europe, while in Japan a “Fuel Ammonia Supply Chain Establishment” project is in progress. This market is expected to grow in the years ahead.
MHI Group is pursuing a growth strategy in the area of Energy Transition, aiming for decarbonization on the energy supply side to support the Company’s goal of achieving Carbon Neutrality by 2040. Through the development and commercialization of a membrane separation hydrogen purification system from ammonia cracking gas will contribute to building a hydrogen and ammonia supply chain, the Company will strive for early establishment and execution of decarbonization technologies, as a way of contributing to the realization of a sustainable Carbon-Neutral world.
NGK Group has formulated a “Carbon Neutrality Strategic Roadmap” consisting of four strategies to contribute to the realization of a carbon-neutral society and promoting the development and provision of hydrogen and Carbon dioxide Capture, Utilization and Storage (CCUS) related technologies, and products. NGK will contribute to society through our business by realizing what has previously been difficult with ceramic technology at the core, and by working to the point where the key devices are implemented in society.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Mitsubishi Heavy Industries, Ltd. (MHI) announced that it has invested in Fervo Energy (Fervo), an innovative enhanced geothermal technology startup company headquartered in Houston, Texas. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors, including Devon Energy Corporation (Devon), Marunouchi Innovation Partners (MIP) and others.
Fervo has adapted innovations pioneered by the oil and gas industry, such as horizontal drilling and distributed fiber optic sensing, to make reservoirs of hot rock that exist beneath the earth’s surface into practical, economically viable, carbon-free sources of energy that can be used as heat sources both for industrial and power generation. Fervo is striving to unlock geothermal energy in previously economically unattractive locations, dramatically increasing geothermal resource potential.
MHI Group is collaborating with and investing in partners to develop innovative technologies that will help to decarbonize existing infrastructures and build a hydrogen and CO2 ecosystem to contribute towards achieving a decarbonized society by integrating with product portfolio like power generation. Carbon-free energy by enhanced geothermal can be a powerful resource for both ecosystems, and dispatchability is especially important for industrial facilities, while solar and wind have intermittency challenges. MHI is investing in Fervo’s efforts to explore carbon-free energy that can energize these ecosystems. The company will continue to enhance and diversify its solutions portfolio to provide customers with alternative decarbonization technologies to achieve their net zero goals.
About Fervo EnergyFervo Energy provides 24/7 carbon-free energy through the development of next-generation geothermal power. Fervo’s mission is to leverage innovation in geoscience to accelerate the world’s transition to sustainable energy. Geothermal has a major role to play in the future electric grid, and Fervo’s key advancements in drilling and subsurface analytics bring a full suite of modern technology to make geothermal cost competitive. For more information, please visit www.fervoenergy.com.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Mitsubishi Heavy Industries, Ltd. (MHI) and NIPPON SHOKUBAI CO., LTD. (Nippon Shokubai) have reached an agreement on joint development of an ammonia cracking system, expecting establishment of a hydrogen and ammonia supply chain that enables high-volume transport.
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Ammonia is garnering attention today as a hydrogen carrier that enables safe transport and storage of hydrogen, a fuel that emits no CO2 when combusted, in large volumes over great distances. Plans to establish supply chains are underway worldwide, notably in Europe, while in Japan a “Fuel Ammonia Supply Chain Establishment” project is in progress. This market is expected to grow in the years ahead.
Ammonia “cracking” is a technology indispensable for extracting ammonia’s hydrogen component, and therefore it plays an important role in building supply chains. In the newly agreed project to jointly develop an optimal ammonia cracking system using an ammonia cracking catalyst, MHI will contribute significant global expertise delivering ammonia and other chemical plants, and its technologies in handling ammonia and hydrogen. Nippon Shokubai has developed and successfully implemented numerous catalysts, such as process catalysts for acrylic acid and others, as well as environmental purification catalysts, including automotive catalysts and exhaust gas catalysts. Nippon Shokubai will leverage the achievements and insights gained from such catalytic technologies in the development of the ammonia cracking catalyst. The hydrogen extracted from the new cracking system can be utilized as a clean fuel and raw material. MHI and Nippon Shokubai are committed to driving the development forward, aiming to achieve for early commercialization.
Ammonia Cracking System
MHI Group today is pursuing a growth strategy in the area of Energy Transition, aiming for decarbonization on the energy supply side to support the Company’s goal of achieving Carbon Neutrality by 2040. Through the development and commercialization of an ammonia cracking system that will contribute to building a hydrogen and ammonia supply chain, the Company will strive for early establishment and execution of decarbonization technologies, as a way of contributing to the realization of a sustainable Carbon-Neutral world.
Nippon Shokubai is actively pursuing the “Strategic Transformation for Environmental Initiatives” outlined in the Group’s long-term vision “TechnoAmenity for the future” by 2030. The Company’s focus lies in advancing the prevalence of ammonia and hydrogen, alongside the promotion of the development and implementation of ammonia cracking catalysts. Nippon Shokubai will continue to provide materials and solutions required by people and society, while also contributing to a sustainable world.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Copyright ©2023 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Mitsubishi Heavy Industries (TSE Code: 7011) announced that order intake rose 75.1% year-over-year to YEN1,606.8 billion in the quarter ended June 30, 2023. Revenue rose 12.9% to YEN983.9 billion year-over-year, resulting in profit from business activities (business profit) of YEN51.9 billion, a 248.1% increase from the previous fiscal year, which represents a profit margin of 5.3%. Profit attributable to owners of parent (net income) was YEN53.1 billion, an increase of 177.1% year-over-year, with a profit margin of 5.4%. EBITDA was YEN85.1 billion, an 80.3% increase from Q1 FY2022, with an EBITDA margin of 8.7%, up 3.3 percentage points year-over-year.
Large orders growth in Energy Systems was driven by Gas Turbine Combined Cycle (GTCC), which continues to see strong demand for both new builds and after-sales services. Business profit in the segment increased by YEN27.0 billion YoY due to a reduction in one-time charges in the Thermal Power businesses as well as revenue growth and improved project margins in GTCC.
In Plants & Infrastructure Systems, revenue increased by YEN33.8 billion YoY due to contributions from Metals Machinery and Engineering, while business profit improved by YEN5.0 billion resulting from increased revenue in Metals Machinery as well as positive developments in Engineering and Machinery Systems’ project mix.
In Logistics, Thermal & Drive Systems, successful passthrough of cost inflation to sales prices mainly in Logistics Systems and Heating, Ventilation & Air Conditioning (HVAC) led to 14.3% and 16.6% YoY increases in order intake and revenue, respectively. Cost passthroughs in these businesses also helped to raise the segment’s business profit by YEN15.3 billion YoY.
Most notable this quarter is the striking growth in Aircraft, Defense & Space order intake, specifically in Defense & Space, which saw orders rise by YEN584.1 billion YoY. This is due to large orders for missile defense systems from Japan’s Ministry of Defense as the country seeks to improve its capabilities in this area.
CFO Message:
“MHI had a strong first quarter this fiscal year, achieving large year-over-year increases especially in order intake and profit,” Hisato Kozawa, MHI Chief Financial Officer commented.
Kozawa continued, “We are leveraging key market positions and robust capabilities in many important product areas to grow our order book, and we are particularly pleased with our gains in GTCC and Defense & Space. In parallel, we are improving revenue mix and executing on cost passthroughs among other profitability improvement initiatives. During the first quarter, the yen traded more weakly against foreign currencies than initially forecast, which in some cases gave a boost to our earnings. However, depreciation of the yen has proved to be a double-edged sword, leading to increased energy and other costs within Japan. As such, we will continue to monitor global market conditions closely. Finally, we have maintained our initial guidance for the full fiscal year, and we are confident in our ability to deliver on these commitments over the coming quarters.”
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
Note regarding forward looking statements:
Forecasts regarding future performance as outlined in these materials are based on judgments made in accordance with information available at the time they were prepared. As such, these projections include risk and uncertainty. Investors are recommended not to depend solely on these projections when making investment decisions. Actual results may vary significantly due to a number of factors, including, but not limited to, economic trends affecting the Company’s operating environment, fluctuations in the value of the yen to the U.S. dollar and other foreign currencies, and Japanese stock market trends. The results projected here should not be construed in any way as a guarantee by the Company.
Topic: Press release summary
Mitsubishi Heavy Industries Power IDS Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has received an order for a renovation project to enhance the output of steam turbine generators at the Renwu Refuse Incineration Plant, a waste incineration facility in Kaohsiung, Taiwan. The renovation contract was concluded with Onyx Ta-Ho Environmental Services Co., Ltd. (Taipei), a major waste disposal company that handles operations and maintenance (O&M) for the facility.
The Renwu Refuse Incineration Plant is located in the Renwu District of Kaohsiung City, northeast of the city center. The initial 21-year contract period, begun when responsibility for O&M was transferred from the city’s Environmental Protection Bureau to a private company, has now concluded. As the contract has been renewed for a further 15 years with Onyx Ta-Ho in charge of O&M, improvement work for core equipment is to be conducted. The conclusion of renovation work and start of operations is scheduled for mid-2024.
The contracted renovation project is for steam turbine generators originally supplied by MHI in 1998. The scope of the project has been kept to a minimum, with components carefully selected for upgrade in order to make the best possible use of the existing equipment and improve efficiency. By optimizing the design of the turbine casing and internal equipment based on the changes in operating conditions since the plant was built, the project is expected to enhance power generation output markedly. Mitsubishi Heavy Industries Power IDS was awarded this contract in recognition of its advanced engineering proposal, along with past performance and reliability that has ensured stable operations for more than two decades.
Onyx Ta-Ho was established in 1992 as a joint venture between the French company Veolia, a major general environmental services firm, and Taiwan Cement Corporation. Taking advantage of favorable trends in the Taiwanese government toward privatization of waste treatment facilities, Onyx Ta-Ho has expanded its O&M business throughout Taiwan. This renovation project for core facilities, by providing for more efficient use of the heat generated from waste incineration, will enhance the cost performance of O&M, and is expected to contribute to the energy efficiency and CO2 reductions Taiwan is pursuing as a policy measure.
Like Japan, Taiwan has a large number of small and mid-sized industrial thermal power facilities (boilers and turbines) in operation, not just waste incinerators. Decarbonizing these facilities has become a major concern for industry. As part of MHI Group, Mitsubishi Heavy Industries Power IDS will utilize its technological capabilities to contribute to decarbonization and the realization of a carbon neutral world, while ensuring a stable energy supply for industry.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.
