French oil major TotalEnergies became an investor in the Japan Hydrogen Fund, joining several major Japanese companies focused on developing the low-carbon hydrogen value chain, the company announced on Thursday.
The fund launched with an initial endowment of over $400 million and is backed by significant contributions from leading Japanese investors, the oil major said in a statement.
Among the investors are Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan Green Investment Corp. for Carbon Neutrality, and the Bank of Fukuoka.
Helle Kristoffersen, president of Asia and member of the Executive Committee of TotalEnergies, said that the company was pleased to support the fund dedicated to developing the hydrogen value chain in Japan and globally, as the only non-Japanese investor at this stage.
'We are convinced that only a collective effort will enable low-carbon hydrogen solutions to emerge on an industrial scale,' Kristoffersen added.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr