Mitsubishi Corporation (MC) has established Eneco Diamond Hydrogen B.V. (Eneco Diamond Hydrogen) with the aim of advancing green hydrogen and related renewable energy initiatives in Europe. Eneco Diamond Hydrogen, officially registered on June 6, 2023, is a joint venture between MC and its subsidiary N.V. Eneco, a Rotterdam-based integrated energy company.
As the global drive to reduce carbon emissions intensifies, more nations are actively seeking to integrate renewable energy into their energy portfolios. As Hydrogen can be easily stored, transported, and utilized as both an alternative fuel and a flexible power grid resource, it is generating significant interest. The EU has been actively expediting the adoption of hydrogen, demonstrated by the fact that it has set annual goals for the production and importation of 10 million tons of green hydrogen by 2030.
Eneco Diamond Hydrogen leverages the strengths of its parent companies to cultivate green hydrogen and related renewable energy ventures, extending beyond its roots in the Netherlands. This involves capitalizing on Eneco’s extensive expertise in the renewable energy sector, as well as harnessing MC’s expansive network, which includes operations in industries such as oil refining, chemicals, steel, marine transport, etc.
MC’s latest midterm corporate strategy has prioritized energy transformations, with a special focus on delivering zero-carbon solutions to support global decarbonization. The establishment of Eneco Diamond Hydrogen is stepping toward realizing this objective, as it represents MC’s commitment to the development of green hydrogen enterprises in Europe.
Not only Europe, but even Japan, the US, and other Western and Asian countries are also increasingly seeking opportunities to expand hydrogen production and utilization. MC recognizes this global trend and is eager to leverage the expertise acquired from Eneco Diamond Hydrogen to drive the development of hydrogen initiatives in various regions worldwide and contribute towards decarbonization efforts.
