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South Africa's Hive Hydrogen Attracts Japanese Investors for Green Ammonia Project
Key Ideas
  • Hive Hydrogen in South Africa is pursuing a $5.9 billion green ammonia project, attracting interest from major Japanese companies like Mitsubishi UFJ Financial Group and Itochu Corp.
  • The project aims to produce 1 million tons of hydrogen annually, with potential to quadruple its size over time, targeting decarbonization in heavy industry and shipping.
  • Hive plans to sell a significant portion of its output to Japan and South Korea, with officials from Japanese government agencies and financial institutions visiting the proposed site in Eastern Cape province.
Hive Hydrogen South Africa is in the spotlight for its $5.9 billion green ammonia project, which has caught the attention of leading Japanese companies like Mitsubishi UFJ Financial Group, Itochu Corp., and Mitsubishi Heavy Industries Ltd. The project, set to open in 2029 in Gqeberha, aims to produce green hydrogen to decarbonize heavy industry and shipping. With officials from Japanese government agencies and finance bodies showing keen interest, the project is considered a significant investment prospect. The plant plans to utilize 3,700 megawatts of renewable power to generate 1 million tons of hydrogen annually, with the possibility of expanding its capacity in the future. By targeting exports to Japan and South Korea, Hive is strategically positioning itself in the international market. Ammonia, a derivative of green hydrogen, is viewed as a key element in decarbonizing various sectors like shipping and heavy industry, offering a cleaner alternative to traditional fuels. The project's potential has also attracted interest from European stakeholders for funding. Despite current cost challenges compared to conventional fuels, the project envisions cost reductions with technological advancements and regulatory support in the future.
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