Month: September 2024

TOKYO, Sep 18, 2024 - (JCN Newswire via SeaPRwire.com) - Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group; Kawasaki Kisen Kaisha, Ltd. ("K" LINE); Mitsui O.S.K. Lines, Ltd. (MOL); Nihon Shipyard Co., Ltd., a joint venture for ship design and sales between Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation; Nippon Yusen Kabushiki Kaisha (NYK Line); Mitsui & Co., Ltd.; and Mitsubishi Corporation have jointly acquired Approval in Principle (AiP)(1) from the American Bureau of Shipping (ABS) and Nippon Kaiji Kyokai (ClassNK) for two types of low-pressure type liquefied CO2 (LCO2) carriers under their joint development. A presentation ceremony took place on September 17 at the George R. Brown Convention Center, the venue of Gastech 2024, a major international conference on global energy and environmental issues, including natural gas, liquefied natural gas (LNG), and hydrogen, held in Houston, Texas.Demand for LCO2 carriers is expected to grow in tandem with various CCS (Carbon dioxide Capture and Storage) projects involving the transportation of CO2 captured in Japan to storage sites located oversea. Recently, Mitsubishi Shipbuilding, Nihon Shipyard, Mitsui & Co. and Mitsubishi Corporation have collaborated to achieve standardization of LCO2 carriers suited for use by multiple projects, and to establish a supply chain in order to build and supply LCO2 carriers consistently within Japan, which would contribute towards the realization and improvement of economic efficiency of CCS value chains. These initiatives have led to the acquisitions of two AiPs in collaboration with three major Japanese shipping companies: "K" LINE, MOL and NYK Line.The two LCO2 carriers that received AiP certifications are low-pressure type 50,000m3-class and 23,000m3-class vessels developed for long-distance ocean voyages. The AiP certifications assume the use of appropriate cargo tank material as a replacement for the nickel steel previously considered. Additionally, post welding heat treatment (PWHT)(3), one of critical issues in establishing the cargo tank manufacturing, may be omitted by the Engineering Critical Assessment (ECA)(4) approach is included.MHI Group is pursuing strategic measures to strengthen its business for the energy transition. Mitsubishi Shipbuilding, for its role in this initiative, efforts to contribute to the advance of the maritime industry in Japan and around the world by utilizing its shipbuilding-based marine engineering technologies in addition to conventional shipbuilding. Mitsubishi Shipbuilding will actively promote the development of LCO2 carriers and establishment of CCS value chain through collaboration with various domestic/overseas companies.(1) Approval in Principle (AiP) indicates that the certification body has reviewed the basic design and approved it as satisfying the technical requirements and safety criteria. The assessment was conducted in accordance with the IGC Code(2) and the American Bureau of Shipping (ABS) and Nippon Kaiji Kyokai (ClassNK) classification rules applicable to vessels transporting liquefied gas in bulk.(2) IGC Code (The International Code for the Construction and Equipment of Ships Carrying Liquefied Gases in Bulk) is an international regulation stipulating conditions to ensure the safety of vessels that transport liquefied gases (LCO2, LNG, etc.) in bulk.(3) In post welding heat treatment (PWHT), structural materials are reheated to a set temperature after welding and held at that temperature for a specified amount of time. This process aims to lower residual stresses generated during welding and improve the quality of welding joints. PWHT is generally performed by placing structural products into a dedicated furnace. When the products are of large size, furnace size may cause bottlenecks in the manufacturing process.(4) Engineering Critical Assessment (ECA) is a method for evaluating the safety of welded structural components. Using micro initial defects in the welding joints and the estimated stress history together with characteristics of the material, the ECA confirms that no major quality issues will occur during the product's service life.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2024 JCN Newswire via SeaPRwire.com.

TOKYO, Sep 18, 2024 - (JCN Newswire via SeaPRwire.com) - Mitsubishi Heavy Industries, Ltd. (MHI)'s proprietary carbon capture technology, the KM CDR Process(TM), has been deployed to remove approximately 25,000 tonnes of CO2 annually at Europe's first fully operational post-combustion carbon capture plant, which is part of the Ravenna Carbon Capture and Storage project launched by Eni and Snam near Ravenna, Italy.Carbon capture plant for Ravenna CCS (photo courtesy of Eni S.P.A)The technology was implemented at Eni's Casalborsetti natural gas treatment plant through NEXTCHEM, MAIRE's subsidiary for the energy transition, who acted as a technology integrator, while MAIRE's subsidiary KT (Integrated E&C Solutions) completed the full Engineering, Procurement and Construction works on site. MHI provided the Process Design Package (PDP) and is licensing its technology.The capture process is being used to treat low-CO2 flue gas from a natural gas turbine that drives a turbo compressor. The facility is reducing CO2 emissions by 90%, rising to peaks of 96%. Considering the CO2 concentration levels of less than 3% and the low level of atmospheric pressure in the exhaust, this is a remarkable achievement for the world's first industrial-scale project with such high levels of carbon capture efficiency - one that could be replicated with other industrial processes producing low-CO2 flue gas.As well as being a significant development in the decarbonization of industry, this also represents a major milestone for "Ravenna CCS", the first project for the capture, transport and permanent storage of CO2 in Italy, developed for exclusively environmental purposes by Eni and Snam. The captured CO2 is subsequently transported through reconverted gas pipelines and then injected and stored at a depth of about 3,000 meters in Eni's Porto Corsini Mare Ovest depleted offshore gas field. Over the coming years, with Phase 2, the further industrial-scale development of the Ravenna CCS project will enable the storage of up to 4 million tonnes of CO2 per year by 2030.Tatsuto Nagayasu, MHI's Senior Vice President (CCUS) of GX (Green Transformation) Solutions, commented: "What MHI's carbon capture technology has achieved through this project marks a significant milestone and paves the way for further carbon emission reductions across the industry in the future. It also supports the ambitious CCUS goals set by Italy and Europe. The successful deployment of our advanced CO2 capture technology at Europe's first fully operational post-combustion carbon capture plant for CO2 storage demonstrates the versatility and effectiveness of our technology. Through innovations and partnerships like these we are strengthening MHI's position as a global leader in carbon capture solutions and driving the global energy transition forward."MHI Group has formally declared its intent to achieve carbon neutrality by 2040, and the Company is now working strategically to decarbonize both the energy demand and supply sides. A core element of the Company's transition strategy is the development of a CCUS value chain integrating diverse sources of carbon emissions with modes for carbon storage and utilization. Going forward, MHI Group will continue to proactively promote its CCUS business worldwide, applying its proprietary CO2 capture technologies, contributing as a solutions provider to reducing greenhouse gas emissions on a global scale, and developing further solutions that contribute to environmental protection.About MHI Group's CO2 capture technologiesMHI Group has been developing the KM CDR Process(TM) (Kansai Mitsubishi Carbon Dioxide Recovery Process) and the Advanced KM CDR Process(TM) in collaboration with the Kansai Electric Power Co., Inc. since 1990. As of September 2024, the Company has delivered 18 plants adopting these processes. The Advanced KM CDR Process(TM) adopts the KS-21(TM) solvent, which incorporates technological improvements over the amine-based KS-1(TM) and offers superior regeneration efficiency and lower deterioration than the KS-1(TM), and it has been verified to provide excellent energy saving performance, reduce operation costs, and result in low amine emissions.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.Carbon capture plant for Ravenna CCS (photo courtesy of Eni S.P.A) Copyright 2024 JCN Newswire via SeaPRwire.com.

Paris / Tokyo, Sep 18, 2024 - (JCN Newswire via SeaPRwire.com) - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), and Mitsubishi Heavy Industries Ltd. ("MHI"), the leading global industrial group and the launch services provider, announce the signature of a new agreement for multiple launches. Under the terms of the agreement, MHI will provide multiple launches by its H3 launch vehicle from 2027.This is the first agreement between Eutelsat and MHI, and today's announcement cements the growing partnership between both companies.Eutelsat has consistently worked with leading launch providers to deliver its fleet into orbit and this latest agreement brings additional diversity and additional opportunities to launch Eutelsat's satellites in the coming years.MHI Launch Services enjoys an extremely high success rate of over 98%, utilising its H-IIA and H-IIB launch vehicles, and has executed more than 50 successful consecutive launches since 2005, delivered on-time and to the customer satisfaction. Today, MHI's technologies and know-how of development and operation of launch vehicles have ensured successful launches of H3, Japan's new launch vehicle. The H3 Launch Vehicle builds on the legacy of the highly reliable H-IIA & H-IIB and is designed to deliver enhanced customer-service and address an even greater range of launch requirements. The third launch of H3 was successfully completed on July 1, 2024.Arlen Kassighian, Chief Engineering Officer of Eutelsat Group, said: "We are delighted to inaugurate our relationship with MHI with this multi-launch agreement. Access to Space is critical for operators like Eutelsat, and we are excited to add MHI to our portfolio of launches, knowing that we can rely on its outstanding track record and technology to deliver our satellites into orbit."Iwao Igarashi, Vice President and Senior General Manager of Space Systems at MHI, said: "MHI deeply appreciates the honor of entering into the first launch agreement with Eutelsat, the global leading satellite operator, and being selected as their launch partner to deploy their satellites. MHI is committed to delivering highly reliable and transparent launch services for its customers, that build market trust through the accumulation of successful launches. We look forward to developing a long-lasting and mutually beneficial partnership with Eutelsat."About Eutelsat GroupEutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 35 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL). Find out more at: www.eutelsat.comAbout MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2024 JCN Newswire via SeaPRwire.com.

TOKYO, Sep 18, 2024 - (JCN Newswire via SeaPRwire.com) - NEC Orchestrating Future Fund (NOFF), an ecosystem-based corporate venture capital (CVC) fund, has made an investment in Sakana AI, a Japan-based company that gathers technical talent from around the world to conduct research and development of generative AI.While the use of AI is essential to improve the competitiveness of companies, the development of large-scale AI models requires an enormous amount of time and cost to learn data.Sakana AI was founded in Tokyo in 2023 by David Ha, who has led research on complex and autonomous systems at Google Brain's Japan division, Llion Jones, one of the authors of the paper "Attention Is All You Need," which helped to trigger the current boom in generative AI, and Ren Ito, who took the lead on the global expansion of Mercari, Japan's first unicorn start-up. The company creates innovative AI development methods by combining multiple different AI models, resulting in the low cost creation of large-scale models that feature new functions.NEC aims to be a social value creator that solves various social issues through cutting-edge technologies. AI is a key technology for achieving these goals, which makes it essential to ensure that AI models are developed efficiently and safely for a wide range of industries.Sakana AI's technology has the potential to quickly lead to solutions to unique and complex challenges in a variety of fields, including space and government. Therefore, with this investment, NEC Corporation (NEC; TSE: 6701) has initiated discussions with Sakana AI for business collaboration using generative AI."The NEC Orchestrating Future Fund invests in startups that are pioneering new markets with cutting-edge technologies and innovative business models," said Motoo Nishihara, Corporate Executive Vice President and Chief Technology Officer (CTO) of NEC Corporation. "Sakana AI is a company that can greatly expand the potential of AI applications, which is in line with NEC's vision of AI that is smoothly integrated throughout society. Together with Sakana AI, we will accelerate our efforts to create new social value.""We will accelerate both our R&D and business development collaboration in partnership with NEC," said David Ha, Co-Founder and CEO of Sakana AI. "Through our partnership with NEC, we will do our utmost to provide solutions to the challenges that Japanese industries and society face."About NEC CorporationNEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com. Copyright 2024 JCN Newswire via SeaPRwire.com.

KAWASAKI, Japan, Sep 18, 2024 - (JCN Newswire via SeaPRwire.com) - IHI Corporation, Fujitsu Limited, and Mizuho Bank, Ltd. today announced that as of September 16, 2024, the three companies have entered into a memorandum of understanding regarding a joint business venture to provide the J-Credit (1) Creation Total Support Service. This service will optimize the J-Credit creation process in J-Credit scheme and support rapid monetization for J-Credit creators.The J-Credit Creation Total Support ServiceCurrently, in order for companies and organizations to create J-Credits, various procedures are necessary across each of the phases, from project registration to J-Credit creation, and the significant time and effort required is an issue. In addition, there is an inherent risk that a buyer won't be found after the credits are created, and that monetization will be delayed.In order to tackle these issues, and increase J-Credit creation ahead of expected rising demand, this joint enterprise will combine the Mizuho Bank network with the MRV Support System (2), which digitizes the process of creating environmental value (i.e., measurement, reporting, and verification) and was developed by IHI and Fujitsu, to offer a total support service for J-Credit creators. In addition, in the first quarter of fiscal 2025, the effort aims to start providing J-Credits creation support for activities to reduce emissions through the introduction of photovoltaic power generation facilities to replace grid electricity.The J-Credit Creation Total Support Service combines Fujitsu's blockchain and automation technology with IHI's knowledge regarding J-Credit creation and data collection engineering know-how to enable highly reliable data management and storage and reduce burden through automation of application procedures required for J-Credit creation. Moreover, through the J-Credit priority purchase program-which utilizes Mizuho Bank's customer network, the three companies provide a one-stop service.IHI leverages its engineering and IoT capabilities to collect operational data on customer facilities, calculate CO2 reductions, and support the creation of environmental value including through the creation of J-Credits. By utilizing the environmental value management platform (3) and promoting further digitalization of the creation process, IHI will work to create a system that can create credible environmental value efficiently and further contribute to the realization of a decarbonized society.Under the Fujitsu Uvance business model, which focuses on resolving societal issues, Fujitsu's platform for the management of ESG, that supports the realization of corporate ESG management by visualizing, measuring, and optimizing CO2 reductions, uses AI to analyze ESG data, including data on CO2 emission reductions collected at the time of J-Credit creation and provides simulations needed for sophisticated management decision-making as well as recommendations. Through these measures, Fujitsu supports to acceleration of its customers sustainability transformation (SX.)Mizuho Bank aims to facilitate decarbonization for its customers and society as a whole by playing an intermediary role for the emerging carbon credit market in its capacity as a financial institution. As the only financial institution designated as a "Best Market Maker" in the Tokyo Stock Exchange's carbon credit market, Mizuho Bank is working to promote the liquidity and progress of the J-Credit market, and make contributions to both the environment and the economy.Through this collaboration, the three companies seek to expand the J-Credit Creation market, accelerate decarbonization management and contribute to the creation of a sustainable society.(1) J-Credit :Credits certified by the Japanese government for the amount of greenhouse gas emissions reduction or absorption.(2) MRV Support System :A system that uses blockchain to improve the efficiency of operations such as monitoring, reporting, and verification of J-Credits. In FY2023 IHI and Fujitsu participated in a PoC related to digitization of credit certification utilizing the Ministry of the Environment's "J-Credit Easy Generation" platform (now called the "MRV Support System") and demonstrated the easy application for companies and other creators of environmental value through CO2 reduction activities. In FY 2024, the two companies were among those selected by the Ministry of the Economy to promote the digitization of MRV systems for J-Credit.(3) The environmental value management platform :A digital platform for accumulating and commercializing data inside and outside the IHI Group as environmental value.About IHIIHI is a preeminent Japanese integrated heavy industry group that originated with the establishment of the nation's first modern shipyard in 1853. It leveraged its shipbuilding technology to expand into onshore machinery, bridge, plant, aero-engine, and other manufacturing fields. IHI has provided an array of solutions in recent years. These are principally in the Resource, Energy and Environment; Social Infrastructure and Offshore Facilities; Industrial Systems and General-Purpose Machinery; and Aero Engine, Space and Defense business segments. In power generation, the Company manufactures boilers and gas turbines for thermal power plants. It is developing technology for ammonia firing and is constructing carbon-free fuel ammonia supply chain to help decarbonize the economy.About FujitsuFujitsu's purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.7 trillion yen (US$26 billion) for the fiscal year ended March 31, 2024 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com.About MizuhoMizuho Bank is a wholly-owned subsidiary of Mizuho Financial Group, Inc., one of the largest, full-service financial institutions in the world, with approximately 60,000 employees in 35 countries/regions outside of Japan, nearly 150 years of banking experience, and assets of almost USD 2 trillion. Mizuho Bank has one of the largest customer bases in Japan, and a global network of financial and business centers. At Mizuho, we will draw on our expertise as a financial services group to proactively provide financing support, including sustainable finance and environmental finance, as well as advice and solutions to strengthen and shift businesses towards decarbonization.Press ContactsFujitsu LimitedPublic and Investor Relations DivisionInquiriesThe J-Credit Creation Total Support Service Copyright 2024 JCN Newswire via SeaPRwire.com.