Japan Hydrogen Association Enters Memorandum of Understanding with H2Global Stiftung

In a significant development at the ‘Japan-EU Roundtable’ convened on Monday, June 3, 2024, a Memorandum of Understanding (MOU) was formalized between Japan Hydrogen Association (JH2A) and H2Global Stiftung (H2Global). This collaboration underscores the ongoing discussions on financial sector cooperation between Japan and the EU initiated last year, with a particular focus on securing affordable hydrogen in Japan while drawing insights from Germany’s strategic plans.

Markus Exenberger, Chairman of the Executive Board at H2Global, and Chairman Uchiyamada of JH2A penned the agreement, in the presence of esteemed dignitaries including Minister of Economy, Trade and Industry Saito and European Commissioner Kadri Simson.

Speaking on the occasion, President Uchiyamada articulated, ‘JH2A is committed to fostering a holistic approach across industrial sectors to materialize a hydrogen-based society. Recognizing the unique production, distribution, storage, and utilization processes of hydrogen, we acknowledge the imperative for a monumental energy transition towards carbon neutrality. What sets JH2A apart is our collaboration with financial institutions since inception, contemplating not just the initiation but the sustenance of this transformative venture.’

Markus Exenberger, echoing similar sentiments, remarked, ‘Integrating hydrogen into business models is imperative. While EU nations, Japan, and OECD have pledged approximately $100 billion in policy support, private capital remains indispensable. Demonstrating profitability is key to attracting private investment. We anticipate significant strides by synergizing with diverse Japanese industries.’

The MOU signals a pivotal step towards leveraging mutual expertise and resources to expedite the transition towards a sustainable energy paradigm, leveraging hydrogen as a linchpin in this transformative journey.