Japan sets aside USD 3.4 billion from green fund to boost hydrogen R&D

By Nikita Chaurasia  Date: 2021-05-19

Japan sets aside USD 3.4 billion from green fund to boost hydrogen R&D

The Japanese government has reportedly allocated USD 3.4 billion from its green innovation fund to accelerate the research and development of hydrogen and promote its use for the next decade.

For the record, Japan had previously aimed to raise the hydrogen demand in the country to 3 million tonnes by 2030, subsequently increasing it to 20 million tonnes by 2050. However, the current demand is around 2 million tonnes only.

Japan’s Industry ministry was quoted saying that the state-owned research and development agency namely New Energy and Industrial Development Organization (NEDO) has reportedly started acknowledging submissions for two hydrogen projects.

The ministry further elaborated on the projects citing that one of the projects is expected to be a USD 2.7 billion facility to create an extensive supply chain of hydrogen and promote the demand.

Meanwhile, the other project is supposedly a USD 641 million project that will be aimed to develop a hydrogen production system supported by water electrolysis. This project will primarily use the electricity derived from renewable energy sources.

The two projects will be funded by the government’s USD 18 billion Green Innovation Fund, which was created to achieve the 2050 set target of zero carbon emission, sources claimed.

These projects are a first in 18 project setups. Details regarding the other projects such as focusing on the R&D activities, scaling down the costs of offshore windmills, and constructing a supply chain of ammonia as a fuel are likely to be finalized by the third quarter of the year.

It is worth mentioning that hydrogen is extensively used to power rockets. It is extracted from coal and natural gas and is widely adopted in oil refineries and the production of ammonia used for fertilizers.

Keeping in view Japan’s 10-year long promotion project, the demand for hydrogen is expected to surge in various sectors including construction, power generation, and transport.

Source credits-

https://news.trust.org/item/20210518091509-53kpu/

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Canada limits 5G around airports over aircraft interference concerns

Canada limits 5G around airports over aircraft interference concerns

By Nikita Chaurasia

Much to the surprise of the telecom industry, the Department of Innovation, Science, and Economic Development (ISED) of Canada has reportedly decided to limit some 5G services that could possibly interfere with radio altimeters, which are crucial com...

U.S. planning to invest billions to expand COVID-19 vaccine production

U.S. planning to invest billions to expand COVID-19 vaccine production

By Nikita Chaurasia

The United States is reportedly planning to make substantial investments to improve its COVID-19 vaccine manufacturing capacity. The country intends to produce at least a billion doses by the second half of 2022. This decision is driven by the huge ...

Peloton sues rival firms iFit and Echelon for patent infringement

Peloton sues rival firms iFit and Echelon for patent infringement

By Nikita Chaurasia

U.S.-based exercise equipment and media company Peloton Interactive Inc. has reportedly filed lawsuits against its rivals Echelon Fitness and iFit, claiming that they violated patents related to its on-demand classes. Peloton stated that Echelon and...

Apple’s digital ID card plan could be funded through states, taxpayers

Apple’s digital ID card plan could be funded through states, taxpayers

By Nikita Chaurasia

Apple is reportedly working on allowing users in participating states to digitally store their state IDs  or driver’s licenses on their iPhone wallet. However, the multibillion-dollar company will partially rely on the respective states &m...

South Korea demonstrates systems for urban air mobility management

South Korea demonstrates systems for urban air mobility management

By Nikita Chaurasia

South Korea has reportedly tested methods for operating urban air mobility (UAM) vehicles, which it aims to use for taxis that will fly between downtown Seoul and major airports as early as 2025. In 2020, South Korea had announced its plan to launch...