Energy Transformation
Introduction
The Energy Transformation Business Unit is a new business organisation that transcends the framework of Business Units by traditional segments as well as those of energy transitions. We consider the changes in social structure brought about by the energy transition as a major business opportunity, and achieving a carbon-neutral society through a decarbonisation and sustainable energy cycle is the main theme of our efforts. Specifically, these efforts are being carried out in the three focused areas of “developing carbon-free energy”, “expanding power and energy services”, and “CO2 capture, storage and utilisation.”
Business Fields
- Production / distribution of hydrogen and ammonia
- Carbon capture, storage and utilisation
- Large-scale energy storage and EV battery reuse
- Bio energies (wood chips, biomass pellets, biogas, bio methanol, next generation bioenergy, such as sustainable aviation fuels)
- Development / promotion / trading of carbon credits
- Renewable energy
Energy
We have divested our conventional oil and gas upstream assets to shift focus towards energy transition and low carbon business – such as CCS (carbon capture storage) and hydrogen. To expand our energy transition business, we launched a new company, Summit Energy Evolution Limited (SEEL). SEEL and Sumitomo Corporation Group have completed feasibility studies of the Bacton Energy Hub. We also contribute to energy security in Europe by trading in gas and power.
Carbon-Free Energy Development
We develop new businesses that include the hydrogen and ammonium business, and a new energy supply business based on facilities for the large-scale receiving and distribution of hydrogen.
New Power and Energy Service Development
We develop and expand the businesses of: large-scale storage batteries, reusable batteries, the power energy platform, and the multiple service of energy infrastructure.
Carbon Management Business (CO2 capture, storage and utilisation)
We develop and expand environmental value creating businesses such as forestry, the biomass fuel business and the next-generation bio-energy development business.Renewable Energy
We particularly focus on renewable energy, including offshore wind and solar photovoltaic power generation. We are heavily engaged in the development of projects, and have stakes in eight offshore wind power and two solar projects.
Group Companies
- Summit Energy Evolution
- Sumitomo Corporation Global Commodities
- SCMI
- AP Ventures
- Inherit Carbon Solutions
- EnergìaVerde De La Macaronesia
- Galloper
- EVM2 EnergiasRenovables
- Five Estuaries
- Race Bank
- Le Tréport
- Noirmoutier
- Nobelwind
- Northwester 2
- Northwind
