Mitsubishi Heavy Industries plans to invest in green technologies beyond solar and wind as one of the biggest participants in fossil fuel power generation tries to reinvent itself in clean energy. Kentaro Hosomi, head of the Japanese conglomerate’s mainstay energy business, told the Financial Times that hydrogen, ammonia, carbon capture and nuclear power would all be needed to meet the global goal of zero emissions. MHI’s green drive illustrates how even companies that have built their business around fossil fuels feel the need for heavy investment in green energy to secure their survival. “Solar and batteries . . . can facilitate the use of green energy, but from my point of view that means everything goes to China.” Japan’s government is betting heavily on the possibility of importing hydrogen from friendly countries such as Australia, but Mr Hosomi said it would be too costly to build a new supply chain for liquefied hydrogen in the short term.
FT 28th Dec 2020 read more »