Oslo, 27September 2021: Yara International ASA, a leading global ammonia player and Kyushu Electric Power Co., Inc(Kyushu), a Japan-based power generation company, have signed a Memorandum of Understanding to collaborate on establishing Clean Ammonia supply chains in Japan to reduce CO2 emission at Kyushu's thermal power generation in Kyushu Area, Japan.
Under the MoU, Yara and Kyushu are targeting collaboration in the following areas:
- To jointly develop Clean Ammonia end-to-end supply chain to Kyushu's coal thermal power generation plants in the Kyushu region, Japan
- To jointly develop a receiving and distribution system of Clean Ammonia for usage in a wide range of fields around the Kyushu region, Japan
Japan targets 3 million tonnes of ammonia import demand for fuel by 2030 and 30 million tonnes by 2050 as part of its measures to cut CO2 emissions and reach carbon neutrality by 2050.
Ammonia does not emit carbon dioxide during combustion and is seen as an effective future energy source. Blue ammonia is derived from a carbon capture and storage process
Yu Komatsu, Trade Director- Asia
About Kyushu
Kyushu Electric Poweris one of the major power utilities in Japan with about 21,000 employees and is operating a variety of power plants with a total capacity of 17.5 GW including 3.5 GW at 3 coal fired power stations. Kyushu Electric Power currently leads low carbonization in Japan with a roughly 60% zero-emission/FIT power source ratio* (FY2019). In April 2021, Kyushu Electric Power established its "Carbon Neutrality Vision 2050" to lower the carbon intensity of or decarbonize energy sources, and to accelerate the shift toward electricity-based energy consumption. Under the "Carbon Neutrality Vision 2050", Kyushu Electric Power is, as a leader in low carbon/decarbonization efforts, aspiring to serve as an enterprise group that spearheads Japan's decarbonization initiatives from the Kyushu region.
* The FIT ratio was 14% in FY2019. If a non-fossil fuel certificate is unavailable, FIT power is considered neither as a renewable energy nor as a source of zero carbon-emission energy, but is treated as a form of electricity that emits Japan's national average level of emissions, consisting of thermal and other energy sources as well.
About Yara
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara's ambition is focused on growing a climate positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.
To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming, and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry's only global crop nutrition company. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2020, Yara reported revenues of USD 11.6 billion.
www.yara.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
