Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), underscored its progress to fast track the development of the hydrogen ecosystem at COP28, which just concluded in Dubai, in the United Arab Emirates.
In recognition of the key role of hydrogen to achieve the decarbonization of energy systems, over 30 countries launched last week the COP28 Declaration of Intent on Hydrogen which is designed to accelerate the commercialization of hydrogen on a global scale and meet global energy demand.
Mitsubishi Power is a frontrunner in developing a hydrogen ecosystem for the decarbonization of energy systems, harnessing decades of experience.
Investing heavily in the development of clean technology, the company has completed the world’s first 30% hydrogen blend power generation validation on a grid-connected state-of-the-art 1,650℃ class J-series Air-Cooled (JAC) gas turbine using hydrogen produced and stored on the same site.
Speaking at Climate Action’s Hydrogen Transition Summit, Dr. Javier Cavada, President and CEO of Europe, Middle East and Africa at Mitsubishi Power, emphasized the role of hydrogen in future proofing the global energy systems: “It’s time to act and find pragmatic solutions that will allow us to drive a fair and just energy transition. We know there is a pressing need to decarbonize; what is changing now is the scale and speed at which this needs to be achieved.”
The Middle East region is heeding the call with a rapidly growing investment in hydrogen which Cavada commented on: “The Middle East and North Africa has the potential to become the world’s clean energy hub.”
According to a report from the Global Hydrogen Council, hydrogen has the potential to abate up to 60-80 GT of CO2 by 2050 but to achieve this requires rapid acceleration.
“We need to remember that the decisions we make in the next two years will determine the next twenty years of the energy transition. We have a duty to future generations to Unite, Act and Deliver,” added Cavada, echoing the theme of COP28.
The company is also deploying an industry and utility-scale integrated commercial hydrogen facility in Utah, in the United States, through a groundbreaking partnership with Chevron U.S.A. Inc’s New Energies Company (formerly Magnum Development) on the Advanced Clean Energy Storage (ACES Delta) Hydrogen Hub.
Bill Newsom, President and CEO of Mitsubishi Power Americas, and Craig Broussard, President, CEO and Board Chair, of ACES Delta were invited to share their experience on the world stage at the Hydrogen Transition Summit, as a best practice that will support developers and operators to adapt this successful model in other regions of the world.
Commenting on the experience, Bill Newsom said: “It took 100 years to build the hydrocarbon infrastructure we have today. The challenge lies in building an infrastructure for renewables in less than 30 years. We all agree on the why and the what; it’s about taking action now with real projects.”
To learn more about Mitsubishi Power’s hydrogen roadmap, click here.
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Gangseo-gu, Busan, South Korea – WEBWIRE – Wednesday, November 15, 2023
Pulse Power, a renewable battery development company aligning itself with strengthened environmental regulations and the rapid growth of the electric vehicle market, is garnering attention for its remarkable growth. With Pulse Powers technology, the company is on the brink of entering the Mongolian market and has established a local subsidiary in Mongolia this year.
The global automotive industry is trending towards electric vehicles, and the batteries for electric vehicles are considered as core components. However, the primary raw materials for battery cells, such as cobalt, lithium, and nickel, are scarce minerals with limited reserves, which could lead to shortages if demand increases significantly. Moreover, the issue of carbon emissions is an unavoidable side effect in the supply of battery raw materials.
Pulse Power is deeply committed to sustainability, especially in tackling the growing issue of battery waste. With its innovative research and development in battery regeneration technology, Pulse Power can successfully rejuvenate over 90% of discharged waste batteries. This pursuit of sustainability has led the company to seek international collaborations actively. Pulse Power has garnered considerable interest in the Mongolian market as a promising startup company, where advanced waste disposal systems are in high demand. Pulse Power, with its cutting-edge technology in this area, has been invited to establish its subsidiary in Mongolia.
Pulse Power specializes in regenerating lead-acid batteries and is currently developing technology to regenerate nickel-metal hydride batteries, commonly used in hybrid vehicles. This advancement is a significant step towards the regeneration of batteries in electric vehicle. Utilizing these regenerated batteries not only contributes to a significant reduction in carbon emissions but also offers a cost-effective and safe alternative. In electric vehicles, which contain multiple batteries with different lifespans, Pulse Powers technology can selectively replace parts, further extending the vehicles operational life. Moreover, these regenerated batteries are cost-efficient, costing about 50-60% less than new batteries.
An official from Pulse Power noted that while Mongolias population is less than 3.5 million, making it a relatively small country, it represents a highly attractive and significant market for emerging startup companies like Pulse Power. They disclosed that expanding into the Mongolian market will help Pulse Power establish a strong foothold in Mongolia within the next three-five years.
The robust growth of Pulse Power, despite being a relatively small player in the renewable battery market, has laid a solid foundation for its ambitious leap towards becoming a global entity.
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Hitachi, Ltd. (TSE:6501) has signed an agreement today to transfer all shares of its wholly owned subsidiary, Hitachi Power Semiconductor Device, to MinebeaMitsumi Inc. for further growth and corporate value enhancement ofHitachi Power Semiconductor Device.
Reason for the Share Transfer
Hitachi Power Semiconductor Device was established in October 2013 for the purpose of structuring an integrated system from design and manufacturing to sales in power semiconductor business by integrating the business of Hitachi and Hitachi Haramachi Electronics Co. Since then, Hitachi Power Semiconductor Device has been providing high value-added products utilizing high-voltage and low-loss technologies in the field of power semiconductors, which are key devices in the electrification and motorization of industry and social infrastructure, with “IGBT(1)/SiC(2)”, “High Voltage IC” and ” Diodes” as its three main product categories. Hitachi Power Semiconductor Device is focusingon IGBT/SiC products in the market areas where high growth is expected toward the realization of a decarbonized society, such as electric vehicles and inverters for wind power generators, in addition to railroad applications, utilizing the strength of the high durability and reliability cultivated in railroad applications. Many customers in Japan and overseashave adopted IGBT/SiC made by Hitachi Power Semiconductor Device. In the area of high-voltage ICs for industrial andhome appliance applications, Hitachi Power Semiconductor Device is contributing to efficiency improvement and noise reduction in customers’ systems through motor control technology and software based on the knowledge it has gained from providing products for a wide range of fields. Furthermore, Hitachi Power Semiconductor Device provides diodes for automotive applications, which require high reliability, for a long period of time.
Hitachi and Hitachi Power Semiconductor Device have held many discussions on measures to achieve further growth and enhance the corporate value of Hitachi Power Semiconductor Device. As a result of the discussion, we have reached a conclusion that the best way for Hitachi Power Semiconductor Device to continue its growth in the powersemiconductor market, which is expected a high growth in the future, is to expand its production capacity and improve manufacturing efficiency under MinebeaMitsumi, which positions the analog semiconductor business as one of its corebusinesses.
Under MinebeaMitsumi, with whom Hitachi Power Devices has been collaborating for many years, Hitachi Power Semiconductor Device will further enhance its strengths in high-voltage, low-loss technologies, expand its productioncapacity and improve manufacturing efficiency to provide higher value-added products in larger quantities to markets and customers, thereby aiming for further growth and corporate value enhancement.
Hitachi will strive to further enhance its corporate value by leveraging the funds obtained from this share transfer for investment in growth of green and service business in the energy field.
(1) Insulated Gate Bipolar Transistor
(2) Silicon Carbide
About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) andproducts. Hitachi operates under the business structure of “Digital Systems & Services” – supporting our customers’ digital transformation; “Green Energy & Mobility” – contributing to a decarbonized society through energy and railway systems, and “Connective Industries” – connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company’s consolidated revenues for fiscal year 2022 (ended March 31, 2023) totaled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.
Topic: Press release summary
The Chief Customer Officers (CCO) & Enterprise Leaders Summit 2024, happening in Singapore from 25-28 March, is set to unlock the power of collaboration, fostering cross-functional transformation within enterprises. Expect dynamic insights and actionable strategies for driving customer-centric innovation and digital integration at the forefront of business operations.
Amidst the rapidly shifting tides of the global economy and the dynamic technological landscape, the imperative for enterprises to prioritize a digital-first, customer-centric approach has become more pressing than ever. The intricate nature of integrating technology within business operations necessitates seamless collaboration among cross-functional teams, highlighting the paramount significance of fostering a holistic and unified organizational culture.
Recognizing this pressing need, the Chief Customer Officers (CCO) & Enterprise Leaders Summit is poised to convene a prestigious congregation of thought leaders and internal change agents dedicated to spearheading the paradigm shift necessary for comprehensive customer transformation. This distinguished summit is strategically designed to serve as a pivotal forum for collaborative discourse and actionable insights, catering to an array of cross-functional executives encompassing roles such as Customer, Data, Digital, Technology, Marketing, and Operations.
“Effective cross-functional collaboration is the bedrock of successful enterprise transformation in today’s dynamic business environment,” affirms Jamie Tan, General Manager of IQPC Asia. “The Chief Customer Officers (CCO) & Enterprise Leaders Summit is committed to fostering an ecosystem of collaboration and knowledge-sharing that is essential for enterprises looking to pave the way for a digital-first, customer-first future.”
The highly anticipated summit is scheduled to take place from 25- 28 March 2024, serving as a definitive precursor to the forthcoming The Customer Show Asia expo, scheduled for March 2025. This summit will feature 40+ C-Suite speakers, 9 interactive discussion groups, and 8 modules focusing on critical transformation strategies, including but not limited to:
With its exclusive focus on dismantling operational silos and driving tangible, enterprise-wide transformation, the Chief Customer Officers (CCO) & Enterprise Leaders Summit promises to be a pivotal juncture for business leaders aiming to navigate the intricacies of the modern customer landscape.
Topic: Press release summary
Speech by SEE on power sector decarbonisation at APEC Energy Ministerial Meeting (English only)
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Following is the speech by the Secretary for Environment and Ecology, Mr Tse Chin-wan, at a discussion session titled Power Sector Decarbonization at the Asia-Pacific Economic Cooperation Energy Ministerial Meeting in Seattle, the United States (US), today (August 15, US time):
Thank you, Chair and fellow colleagues. Good day to all of you.
President Xi Jinping has made it clear that China would endeavour to achieve the peak of carbon emissions before 2030 and carbon neutrality before 2060.
As to Hong Kong, China, our carbon emissions peaked in 2014. Hence, our targets are to cut our carbon emissions by half before 2035, and achieve carbon neutrality before 2050. At the moment, the carbon emissions have been reduced by about one quarter below the peak. Electricity utilisation is one of the largest sources of carbon emissions in Hong Kong, China. As such, we have set “net-zero electricity generation” as one of our major decarbonisation strategies and targets to be achieved before 2050.
In this regard, the power companies have not been allowed to build new coal-fired generating units since 1997 and are required to replace coal with cleaner fuels. As a result, the share of coal has dropped to about a quarter of the fuel mix in 2022. For the rest of the fuel mix, about half is natural gas while slightly more than a quarter is nuclear and renewable energy.
The two power companies in Hong Kong, China, have developed and constructed a new offshore liquefied natural gas terminal within our waters with the world’s largest floating storage and regasification unit to provide cleaner, more reliable and diverse energy supply.
To further decarbonise our power sector, we have set the target to cease using coal for daily electricity generation by 2035. We are also striving to increase the use of zero-carbon energy and its share in electricity utilisation to around 60 per cent to 70 per cent before 2035.
Hong Kong, China, is a small place with severe geographical and environmental constraints. Nevertheless, the Government has been striving to drive the development of renewable energy. We are planning to install a five megawatt floating solar power system at a reservoir and introduce highly efficient storage battery technology. HK$3 billion is allocated to install small-scale renewable energy systems at government premises. Renewable energy features have also been applied in the design of public housing estates, which accommodate half of our population.
In the course of decarbonising our power sector, it is important to ensure our community is enjoying a reliable and safe energy supply also at reasonable prices. At the moment, nuclear energy imported from the Mainland accounts for about a quarter of our fuel mix for electricity utilisation. It has been proven to be a critical stabilising factor in electricity tariffs.
Looking to the future, we are exploring collaboration with neighbouring regions in zero-carbon energy projects, as well as planning the construction of large-scale electricity facilities for receiving and processing zero-carbon electricity transmitted from other regions. These will help us achieve the interim target to reduce carbon emissions by half before 2035.
Ladies and gentlemen, climate change is a global issue that demands a global solution. Building a carbon-neutral future requires the concerted efforts of every one of us. Today’s session provides an excellent platform for knowledge exchange. I believe that all of you will benefit from the insights shared by the speakers. Thank you.
