Collaboration between Universal Hydrogen, Sojitz Corporation, and Mitsubishi HC Capital Inc. to enable the use of hydrogen-powered aircraft by Japanese airlines
LOS ANGELES & TOKYO--(BUSINESS WIRE)--#aerospace--“In order to meet aviation’s ambitious decarbonization goals, we must collaborate in those markets with the strongest appetite for green aviation solutions; Japan is one of those markets. With our Japanese partners—all of whom are global leaders in their industries—we have built a powerful alliance to build a hydrogen infrastructure solution for aviation,” said Paul Eremenko, co-founder and CEO of Universal Hydrogen. “I’m honored to have two of our investors and partners—Sojitz and Mitsubishi HC Capital—further their commitment to our mission through this collaborative effort.” Today, at the California-Japan Climate Summit, Universal Hydrogen Co. announced that it has formed a collaboration with three Japan-based companies to study—and ultimately develop—a green hydrogen supply and logistics solution that will enable Japanese airlines to scale their utilization of hydrogen-powered aircraft in the very near-term. Collectively, Universal Hydrogen alongside Sojitz Corporation, Mitsubishi HC Capital Inc., and an undisclosed third Japanese partner will study a modular hydrogen delivery system for Japanese airlines.
Under the terms of the collaboration, the companies will collectively identify, evaluate, and qualify local hydrogen suppliers and partners for hydrogen production, hydrogen module filling, module delivery operations, and more. Component manufacturers and suppliers will also be liaised with via this partnership, alongside Japanese government agencies and potential customers. Further, the companies will collaborate on studying marketing strategies and leasing and financing options for both Universal Hydrogen’s powertrain conversion kits and modular hydrogen capsules.
“Creating and ensuring a long-term solution for green hydrogen supply and logistics is the biggest hurdle to overcome as the Japanese aviation industry seeks to integrate hydrogen as one of its decarbonization measures. Many of these airlines already know the importance and urgency of decarbonization; it will require an all-encompassing solution to solve the challenges of infrastructure, cost, and supply. We, at Mitsubishi HC Capital, support Universal Hydrogen’s drive to decarbonize aviation and are thrilled to be a part of the Japanese effort to solve this challenge,” said Osamu Muramoto, Global Head of Aviation Business Division of Mitsubishi HC Capital Inc.
“This collaboration is made up of a dynamic and innovative group of companies that all offer unique strengths and deliverables towards achieving a joint mission of enhancing Japan’s sustainability efforts. By developing a solution that meets near-term decarbonization goals for regional airlines, we are getting the industry as a whole one step closer towards a significantly more impactful, long-term solution for single aisle and long haul aircraft,” said Tatsuhiko Niitaka, Executive Officer, COO, Aerospace & Transportation Project Division of Sojitz Corporation.
About Universal Hydrogen
Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites directly to the airplane anywhere in the world. The company is targeting regional and narrowbody/single aisle airplanes as the near-term and most impactful decarbonization opportunities. Universal Hydrogen is also working to certify a powertrain conversion kit to retrofit existing regional aircraft to fly on hydrogen.
About Sojitz Corporation
Sojitz Group is engaged in a wide range of businesses globally, including manufacturing, selling, importing, and exporting a variety of products, in addition to providing services and investing in diversified businesses, both in Japan and overseas. Sojitz operates with a 7-division structure comprising the Automotive Division; the Aerospace & Transportation Project Division; the Infrastructure & Healthcare Division; the Metals, Mineral Resources & Recycling Division; the Chemicals Division; the Consumer Industry & Agriculture Business Division; and the Retail & Consumer Service Division.
About Mitsubishi HC Capital Inc.
Mitsubishi HC Capital Group positions “Social Infrastructure & Life”, “Environment & Energy”, “Sales Finance”, “Mobility” and “Global Assets” as its five areas of focus. In addition, Mitsubishi HC Capital Group will contribute to realizing a bright and hopeful future society as well as richer life for people by creating and offering unique and progressive business to meet the ever-changing needs of society and customers in consideration of the global environment.