ITOCHU Acquires Shares Of UK-Based Green Hydrogen Solutions Provider
Date
1/10/2025 7:05:45 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 10. ITOCHU
Corporation has acquired shares in Protium Green Solutions Limited,
one of the leading providers of green hydrogen solutions for
industrial and transportation sectors, Trend reports via the
company.
Green hydrogen, produced through water electrolysis using
renewable energy, is widely recognized as a key contributor to
achieving carbon neutrality. In the industrial sector, hydrogen can
serve as a heat source, replacing fossil fuels in manufacturing
processes. In transportation, hydrogen fuel cell vehicles (FCVs)
are emerging as a crucial solution for heavy-duty vehicles due to
their short refueling times and long driving ranges compared to
battery electric vehicles.
The United Kingdom, where Protium is headquartered, is at the
forefront of hydrogen policies and subsidies. The UK government
introduced the first round of Contract for Difference incentive
programs in 2022, and recently, the Starmer administration has
reaffirmed its commitment by allocating significant budgets to
support green hydrogen initiatives.
Since Protium began its first hydrogen production in March 2023,
the company has been providing customized hydrogen solutions to
various customers, tailored to their specific heat and transport
needs. Protium's customer-focused approach aligns closely with
ITOCHU's corporate mission,“Sampo-yoshi,” which emphasizes
creating shared value for customers, society, and the company.
Through this strategic investment, ITOCHU aims to promote
Protium's green hydrogen solutions across international markets,
particularly in Asia, including Japan. By leveraging its extensive
global network and customer base, ITOCHU seeks to support companies
in achieving carbon neutrality across their supply chains with
green hydrogen. As a strategic shareholder, ITOCHU is committed to
working closely with Protium to advance the hydrogen society and
execute its growth strategy, with the ultimate goal of fostering a
low-carbon society.
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