Mar. 19, 2021
Signing of a Memorandum of Understanding (MOU) for a Gladstone H2 Ecosystem
Sumitomo Australia Pty Ltd , 100% subsidiary of Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; President and CEO: Masayuki Hyodo; hereinafter, "Sumitomo"), together with Gladstone Ports Corporation (GPC), Gladstone Regional Council (GRC), Australian Gas Networks (AGN) as part of the Australian Gas Infrastructure Group (AGIG) and CQUniversity Australia (CQU) have signed a Memorandum of Understanding (MOU) to develop a hydrogen ecosystem in Gladstone.
The Australian Government announced their National Hydrogen Strategy in 2019, and is presently working to create a national hydrogen industry in support of this strategy, setting its vision to become a leading hydrogen nation in the world by 2030. The City of Gladstone, in the State of Queensland, is expected to be one of the best locations for hydrogen production and consumption from its existing industrial infrastructure, having potential to decarbonise existing sectors such as industry, mobility, ports etc followed by strong support from the Policy Makers.
Sumitomo aims to materialise a hydrogen ecosystem in conducting a Feasiblity study covering the entire hydrogen supply chain and determining the best configuration for hydrogen production and demand creation including decarbonization of the local gas infrastrcutre, mobility and any other related application in this Gladstone region.
Sumitomo Corporation will establish a new business organization entitled the Energy Innovation Initiative (EII *1) in April 2021 which will carry this Gladstone project. Sumitomo Corporation expects hydrogen to be one of the key energies of the future, and promotes hydrogen related business such as Local Production and Consumption projects and Large Scale Value Chain projects. The focus is to develop the regional requirements of energy whilst celebrating the unique characteristics of hydrogen.
In order to greatly contribute to the achievement of our long-term goals toward climate change mitigation, "Carbon neutralisation in 2050" and "Realisation of a sustainable energy cycle", we will accelerate our efforts for the materialisation of a hydrogen society by promoting hydrogen related businesses.
- Establishment of the Energy Innovation Initiative
1) Gladstone Ports Corporation
2) Gladstone Regional Council
3) Australian Gas Networks Limited
4) Central Queensland University
Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to the following material Issues.
- FEED Contract for Hydrogen Production Plant in Australia ( Jan. 22, 2021 )
- Major Milestone for Victoria’s World-First Hydrogen Project ( Mar. 12, 2021 )
- Sumitomo Corporation to Participate in Demonstration Project for Japan-Australia Hydrogen Supply Chain Development ( Oct. 28, 2019 )
- Partnership agreement on hydrogen use and community development concluded between Namie Town (Fukushima Prefecture) and Sumitomo Corporation ( Jan. 25, 2021 )