Hyphen signs MoU with ITOCHU

    - 2023-08-09 13:29:00
Hyphen Hydrogen Energy signed a Memorandum of Understanding (MoU) with ITOCHU Corporation to explore areas for potential collaboration between them to drive forward sub-Saharan Africa’s largest, and only, fully vertically-integrated green hydrogen project.
Hyphen and ITOCHU, one of Japan’s largest general trading and investment companies, will now enter into talks on areas of potential collaboration on this landmark multi-billion-dollar green hydrogen project.
The agreement was signed on Tuesday by Shinya Ishizuka, ITOCHU’s CEO of Africa Bloc and Marco Raffinetti, Hyphen’s CEO at a ceremony witnessed by the Minister of Economy, Trade and Industry for Japan, Nishimura Yasutoshi and Minister for Mines and Energy for Namibia, Tom Alweendo.
Speaking at the event, Raffinetti said that Hyphen expects Japan to emerge as one of the key demand centres for green ammonia globally. “We are delighted to have the opportunity to explore areas for collaboration with ITOCHU to unlock supply into this critical market. I believe that Namibia has the potential to become a long-term strategic partner to Japan for the supply of green hydrogen, well beyond the scale of Hyphen’s project, given Namibia’s unique competitive advantages in green hydrogen production.”
He said that combined with the support of the Namibian government things are progressively advancing the development of its green hydrogen economy.
On ITOCHU’s side, Ishizuka said his company is pleased to be contributing to a low-carbon society together with Hyphen. “With this collaborative development of green ammonia in Namibia, ITOCHU will aim to create a wide range of ammonia value chains in various existing industrial applications as well as for future energy use, and will support our clients and industries in achieving low carbonization goals focusing on Japan, Asia and its surrounding markets. ITOCHU will initiate and enhance our industrial portfolio in the energy sector while achieving our commitments towards decarbonization activities in various prospective industries.”