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MP Materials and Sumitomo to strengthen rare earth supply in Japan

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and Sumitomo Corporation announced an agreement to diversify and strengthen rare earth supplies in Japan. Further, the companies will collaborate on the supply of rare earth metals and other products. With this knowledge, SC will continue to build value added trade by utilizing the company’s enhanced management resources.

Japan 225
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Japan launches first global hydrogen supply chain demo project; liquid organic hydrogen carrier (LOHC) technology

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Nippon Yusen Kabushiki Kaisha—have launched the “Advanced Hydrogen Energy Chain Association for Technology Development”(AHEAD) along with the world’s first Global Hydrogen Supply Chain Demonstration Project. Hydrogen gas will then be extracted from the liquid in Kawasaki and supplied to consumers. Click to enlarge.

Brunei 218
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Nikkei: Nidec to build $715M e-axle plant in Mexico

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The Nikkei reports that Japan-based motor maker Nidec is planning to invest an estimated ¥100 billion (US$715 million) to build an e-axle plant in Mexico. The company plans to be capable of building an annual 7 million e-axles by March 2026.

Mexico 259
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Mitsubishi Shipbuilding completes delivery of ammonia fuel supply system for large, low-speed two-stroke marine engines

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Mitsubishi Shipbuilding, a part of Mitsubishi Heavy Industries (MHI) Group, has completed delivery of an ammonia fuel supply system for large, low-speed two-stroke marine engines, to Japan Engine Corporation (J-ENG), a manufacturer of marine engines.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448
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TSMC to Build Chip Fab in Japan

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(TSMC), the world's largest contract chip manufacturer, announced in an online earnings briefing Thursday that it would build a semiconductor plant in Japan. The announcement comes just a few months after the chip giant announced its intention to build a $12 billion fab in Arizona. China trade war erupted.

Japan 106
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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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An estimated 387GW/1,143GWh of new energy storage capacity will be added globally from 2022 to 2030, according to the forecast—more than Japan’s entire power generation capacity in 2020. The “Inflation Reduction Act” will drive roughly 30GW/111GWh of energy storage build from 2022 to 2030, according to BNEF.