MHI Agrees to Collaborate with Chiyoda Corporation for Licensing of CO2 Capture Technologies By Investing.com

TOKYO, May 7, 2024 – (JCN Newswire) – – Mitsubishi Heavy Industries, Ltd. (MHI) has concluded a General License Agreement (GLA) with Chiyoda Corporation (Chiyoda). Under this strategic collaboration agreement, MHI will grant license of “KM CDR Process” and “Advanced KM CDR Process” to Chiyoda, which is jointly developed with The Kansai Electric Power Co., Inc., and Chiyoda can provide EPC services to customers for CO2 capture projects in Japan.

Through this collaboration, MHI aims to enhance its Engineering, Procurement and Construction (EPC) capabilities to develop CO2 capture projects in Japan, where demand for carbon dioxide capture, utilization and storage (CCUS) is expected to increase. Chiyoda, a global leader in engineering, has been involved in EPC for various types of plants and has a strong track record in infrastructure engineering capabilities, including liquefaction and injection facilities. Through this collaboration, the two companies will leverage their respective strengths to meet decarbonization needs in a wide range of industries.

MHI is expanding the regional coverage and capabilities of its CCUS business by partnering with a diverse group of companies around the world. This collaboration is the latest of MHI’s efforts focused on the Japanese market, where, thanks to this agreement, MHI will be able to execute many projects independently as well as through strategic collaboration with its partners.

MHI Group has formally declared its intent to achieve carbon neutrality by 2040, and the Company is now working strategically to decarbonize both the energy demand and supply sides. A core element of the Company’s “Energy Transition,” which targets decarbonization on the energy supply side, is the development of a CO2 solutions ecosystem integrating diverse sources of carbon emissions with modes for carbon storage and utilization. Going forward, MHI Group will continue to proactively promote its CCUS business worldwide, applying its proprietary CO2 capture technologies, contributing as a solutions provider to reducing greenhouse gas emissions on a global scale, and developing further solutions that contribute to environmental protection.

About MHI Group’s CO2 capture technologies

MHI Group has been developing the KM CDR Process (Kansai Mitsubishi Carbon Dioxide Recovery Process) and the Advanced KM CDR Process in collaboration with the Kansai…