Japan's Sumitomo to produce green hydrogen and ammonia in Chile

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Japan's Sumitomo to produce green hydrogen and ammonia in Chile</title></head><body>

Feb 3 (Reuters) -Sumitomo Corp 8053.T and Chile power supplier Colbun have agreed to collaborate in production of green hydrogen and ammonia, the Japanese company said on Friday.

The memorandum of understanding focuses on green hydrogen and ammonia production and export, Sumitomo's statement said, adding that multiple Japanese companies have been looking to establish a green hydrogen and ammonia supply chain from Chile to Japan since last April.

Hydrogen is viewed as critical to efforts to transition to lower-emissions energy sources, with investment having accelerated in countries such as Australia and Chile since Russia sent troops to Ukraine and cut off Europe's natural gas supply.

"This MOU... will facilitate Chile's transformation into a green hydrogen and related clean energy powerhouse," Colbun CEO Jose Ignacio Escobar was quoted as saying in Sumitomo's statement.

Countries including Japan, China and South Korea have set targets for hydrogen fuel-cell vehicles, and Japan's Honda Motor Co 7267.T plans to start producing a new hydrogen fuel cell system jointly developed with General Motors GM.N.

Reporting by Katya Golubkova
Editing by David Goodman


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.