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New company to be established in spring 2018 with focus on full-fledged development of hydrogen recharging station network in Japan

As a result of discussions that began in May 2017, the following 11 companies have signed an agreement to form a new company in the spring of 2018, aimed at the full-fledged development of hydrogen recharging stations (HRS) for fuel cell vehicles (FCV): Toyota Motor Corporation, Nissan Motor Co Ltd., Honda Motor Co Ltd., JXTG Nippon Oil & Energy Corporation, Idemitsu Kosan Co Ltd., Iwatani Corporation, Tokyo Gas Co Ltd., Toho Gas Co Ltd., Air Liquide Japan Ltd., Toyota Tsusho Corporation, and Development Bank of Japan Inc.

The new company will be established to accelerate Japan’s hydrogen initiative – which is driven mainly by these 11 companies – toward the achievement of Japan’s common target shared by the government and industries regarding the development of hydrogen recharging stations. According to the “Strategic Road

Map for Hydrogen and Fuel Cells” (revised March 22, 2016) released by the Council for a Strategy for Hydrogen and Fuel Cells, an industry body organized by the Ministry of Economy, Trade and Industry (METI) of Japan, in the initial phase of promoting fuel cell vehicles powered by hydrogen, the target penetration is 160 stations and 40,000 fuel cell vehicles by FY 2020.

The objective of the new company is to enhance the collaboration among infrastructure developers, automakers, and financial institutions in order to simultaneously accelerate and scale up Japan’s deployment of HRS and FCV.

Read more here.

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