ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

ENEOS, Toyota, and Woven Planet Collaborate to Facilitate CO2-free Hydrogen Production and Usage for Woven City and Beyond

Toyota City, Japan, Mar 23, 2022 - (JCN Newswire) - ENEOS Corporation (ENEOS) and Toyota Motor Corporation (Toyota) have signed a joint agreement to explore CO2-free hydrogen production and usage at Woven City, the prototype city of the future that Toyota has started to develop in Susono City, Shizuoka Prefecture, Japan. Together with Toyota's subsidiary Woven Planet Holdings, Inc. (Woven Planet), they will accelerate efforts by managing technical logistics.

As described in the Basic Agreement signed in 2021, ENEOS and Toyota have decided to commence construction and operation of a hydrogen refueling station in close proximity to Woven City to produce and supply CO2-free hydrogen to Woven City and Fuel Cell Electric Vehicles (FCEVs) (Item 1 and 2 set forth below). Together, they will also research and design an efficient hydrogen supply and demand management system (Item 3 described below). The ENEOS hydrogen refueling station is scheduled to begin operations before the opening of Woven City in 2024-2025.

Items to be considered at the time of the Basic Agreement(1)

1. ENEOS to establish and operate a hydrogen refueling station in close proximity to Woven City
2. ENEOS to produce "green hydrogen," hydrogen derived from renewable energy, by electrolyzers at the aforementioned station and supply it to Woven City to be used at a stationary fuel cell generator that will be installed within Woven City by Toyota
3. Promote the use of hydrogen-powered fuel cell mobility for logistics in and nearby Woven City. Validate a base unit(2) of hydrogen demand for those mobility logistics as well as build a supply and demand management system
4. Conduct joint advanced research on hydrogen supply at the demonstration hub to be established within Woven City

The ENEOS hydrogen refueling station will "produce" the hydrogen that will meet the energy needs of "users," FCEVs in and around Woven City and Woven City as well. This collaboration expedites our progress toward realizing a truly carbon-neutral society and will facilitate and normalize clean energy operations first at Woven City and eventually the world.

Woven City is the project of Toyota aiming to create happiness through mobility of "people," "goods," and "information." It is focused on three pillars. That are: Human-Centered City that makes people happier in their everyday lives, considering the needs of different kinds of people before and during the development of technology; Living Laboratory, the first-of-its-kind test track for mobility where researchers, engineers, and scientists demonstrate innovative ideas and future technologies both virtually and in the real world; and Ever-Evolving City, rooted in Toyota's kaizen (continuous improvement) approach, is focused on new ideas that provide better mobility of information, goods, and people.

(1) Announced on May 10, 2021 "ENEOS and Toyota Come Together to Make Woven City the Most Hydrogen-Based Society"
(2) Hydrogen can be supplied to FCEVs even during power outages by using stored hydrogen to operate a hydrogen refueling system with a stationary fuel cell generator. This allows the external power supply function of FCEVs to be utilized to provide power support where electricity is needed.
(3) The "base unit" is a standard of measurement required to ensure a result that is both practically valuable to users and commercially viable.

About ENEOS Corporation

Under ENEOS Holdings, Inc., the ENEOS Group has developed businesses in the energy and nonferrous metals segments, from upstream to downstream. The Group's envisioned goals for 2040 are: becoming one of the most prominent and internationally-competitive energy and materials company groups in Asia, creating value by transforming our current business structure, and contributing to the development of a low-carbon, recycling-oriented society with the pursuit of carbon-neutral status in its own CO2 emissions. ENEOS Corporation, one of the principal operating companies in the Group, is contributing to achievement of the Group's envisioned goals through a broad range of energy businesses.

https://www.hd.eneos.co.jp/english/
https://www.eneos.co.jp/english/

About Toyota Motor Corporation

Toyota Motor Corporation (Toyota) (NYSE: TM) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 28 countries and regions, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries and regions under the brands Toyota, Lexus, Daihatsu and Hino.

For more information, please visit https://global.toyota/en

About Woven Planet

Woven Planet is building the safest mobility in the world. A subsidiary of Toyota, Woven Planet innovates and invests in new technologies, software, and business models that transform how we live, work and move. With a focus on automated driving, smart cities, robotics and more, Woven Planet builds on Toyota's legacy of trust to deliver secure, connected, reliable, and sustainable mobility solutions for all.

Learn more at woven-planet.global.

Source: Toyota Motor Corporation

Copyright 2022 JCN Newswire . All rights reserved.
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.