Mitsubishi sets up new company for hydrogen business in Europe

June 28, 2023, by Aida Čučuk

Mitsubishi Corporation (MC), a global integrated business enterprise, has established a new company, Eneco Diamond Hydrogen, to develop green hydrogen and associated renewable energy in Europe.

The new company is a joint venture between MC and its subsidiary Eneco, an integrated energy company headquartered in Rotterdam, the Netherlands.

According to MC, Eneco Diamond Hydrogen is set to develop green hydrogen and associated renewable energy businesses, pivoting from the Netherlands, by taking full advantage of its parent companies’ respective strengths.

MC said it has made energy transformations central to its latest midterm corporate strategy, noting that through the establishment of Eneco Diamond Hydrogen, it has taken another step towards achieving that objective by committing to the green hydrogen businesses in Europe.

“Interest in hydrogen is also growing outside Europe, with Japan, the US and other western and Asian nations all looking for ways to both produce and use it more widely. At MC, we are looking forward to applying our know-how gained through Eneco Diamond Hydrogen towards the development of hydrogen operations in other regions throughout the world. We hope to make meaningful, global contributions to decarbonization,” MC stated.

Mitsubishi Corporation has been looking into hydrogen and ammonia projects in Europe and other parts of the world for a while now.

This year, it joined forces with Japanese companies to investigate the possibility of utilizing Namikata Terminal in Imabari City, Japan, as an ammonia supply hub, and it teamed up with RWE and LOTTE Chemical Corporation to study the development of a large-scale integrated clean ammonia production and export project in the Port of Corpus Christi, US, where there are plans to also develop green hydrogen projects.

In 2022, Singapore-based energy solutions provider Sembcorp Industries formed strategic partnerships with the Japanese government and various corporations to progress hydrogen and other decarbonization initiatives, and among them is advancing the development of hydrogen imports via methylcyclohexane, a type of liquid organic hydrogen carrier, with the commencement of pre-FEED studies under the MoU with Mitsubishi Corporation and Chiyoda Corporation signed in October 2021.