New Zealand’s first company dedicated to the supply of green hydrogen, Hiringa Energy, and global trading and investment enterprise, Mitsui & Co. have signed a strategic alliance agreement to pursue jointly hydrogen-related commercial projects in New Zealand.
Hiringa Energy is developing hydrogen production projects using electrolysis. Hiringa is also developing new renewable electricity generation for green hydrogen that can displace the use of fossil fuels for transport and industrial feedstock.
Through the strategic alliance agreement, Mitsui secures access to participate in multiple hydrogen projects developed by Hiringa including the JV project with Ballance Agri-nutrients and Hiringa’s nationwide refueling network, which will see hydrogen refueling stations come online throughout 2021.
Mitsui has vast experience and numerous investments in the oil & gas, power, and renewables sectors, including participation in a number of megaprojects globally.
In forming this strategic alliance, both companies are working towards a common goal of creating a viable domestic hydrogen economy and export opportunities. The parties have been discussing the potential of hydrogen in New Zealand since 2017, when Mitsui learned of the New Zealand government’s strong aspirations for green hydrogen initiatives and Hiringa’s activities.
The strategic alliance builds on the New Zealand Government’s $19.9-million funding investment announcement into Hiringa’s Joint Venture with Ballance Agri-Nutrients earlier this year—a more than $50-million project to create green hydrogen at Ballance’s Kapuni plant in South Taranaki—and support from Hiringa’s seed investors, including Sir Stephen Tindall via his investment company K One W One.
The New Zealand and Japanese Governments have signed a Memorandum of Cooperation on hydrogen in 2018 to start the transition to a hydrogen economy to reduce emissions and improve energy security.