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Mizuho bets big on hydrogen and related tech

Mizuho bets big on hydrogen and related tech
Mizuho Financial Group, Inc. (Mizuho) aims to provide JPY 2 trillion (≈ US$13 billion) in financing for the production and supply of hydrogen and related technologies by 2030.

Japan-headed finance and advisory services major Mizuho Financial Group, Inc. (Mizuho) has announced that it aims to provide JPY 2 trillion (≈ US$13 billion) in financing for the production and supply of hydrogen and related technologies by 2030.

According to a statement, hydrogen and related technologies –  ammonia, and e-methane – have been identified as a key component for decarbonization across various sectors, including power generation, transportation, and industry, as countries around the world move toward achieving carbon neutrality.

Despite ongoing R&D and feasibility studies in Japan and other countries, hydrogen’s widespread adoption is currently hindered by issues that include, aside from the need to generate demand and reduce costs through innovation, companies’ ability to secure the necessary funding.

Mizuho sees hydrogen as a key component for achieving widespread decarbonization across various sectors. Given the growing urgency to set up supply chains for hydrogen and related technologies, which require substantial investment for production facilities, financial institutions have an essential role to play in providing funding.

At Mizuho, we aim to offer JPY 2 trillion in financing for the production and supply of hydrogen and related technologies by 2030. By adopting this proactive approach, we will contribute to the development of the supply chains and accelerate hydrogen adoption in society, the company said.

To achieve this aim, the Group is focusing on three key areas:

  • Developing business strategies focused on hydrogen and related technologies;
  • Establishing a group-wide framework dedicated to supporting hydrogen and related technologies, and
  • Expanding its pool of personnel specialized in related areas.

Going forward, the Group will further expand its initiatives to promote the construction of supply chains for hydrogen and related technologies.

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