Yara International ASA, a global ammonia player, and Japan Bank for International Cooperation (JBIC), a Japanese policy-based financial institution, have signed a Memorandum of Understanding (MoU) to strengthen cooperation in the field of clean ammonia to support Japanese companies’ business development toward the realisation of a decarbonised society.
“By signing the MoU, we have a framework for collaboration. BIC and Yara will accelerate the formation of projects for the establishment of a fuel ammonia supply chain through the framework for collaboration between the two parties by signing the MoU on strategic cooperation.”
“It is a great honour to strengthen JBIC’s cooperative relationship with Yara, one of the world’s most prominent leaders in the ammonia business. JBIC looks forward to collaborating with Yara in a dedicated effort to work toward establishing a competitive clean ammonia supply chain that also contributes positively to the realisation of a decarbonised society,” says Mr. INABA Yutaka, Managing Executive Officer, Global Head of Energy and Natural Resources Finance Group, JBIC.
Yara aims to establish an international supply chain of clean ammonia to realise a decarbonised society. Clean ammonia is a superior hydrogen carrier and important zero-emission fuel that may be used for power production, deep sea shipping, and for green fertilizer production.
Ammonia does not emit carbon dioxide during combustion and is seen as an effective future energy source. Blue ammonia is derived from a carbon capture and storage process (CCS), while green ammonia is produced carbon free by using hydrogen sourced from renewable energy as feedstock. The term clean ammonia comprises both blue and green ammonia.
This MoU with JBIC is the fifth collaboration on clean ammonia that Yara has announced with key Japanese partners, including JERA, Kyushu Electric Power and Idemitsu Kosan. Sumitomo Chemical.
Read the article online at: https://www.worldfertilizer.com/project-news/15062022/yara-and-japan-bank-sign-mou-to-strengthen-cooperation-in-field-of-clean-ammonia/
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