Mitsubishi Heavy Industries' Decarbonization Journey: Learning from Success in the U.S.
Key Ideas
- Mitsubishi Heavy Industries focuses on decarbonization solutions, including carbon capture and hydrogen, aiming for a long-term impact.
- Key projects like Petra Nova Carbon Capture in Texas and Advanced Clean Energy Storage in Utah showcase successful decarbonization efforts.
- Hitoshi Kaguchi emphasizes the importance of learning from such projects and applying the lessons to promote wider decarbonization initiatives.
- Despite market fluctuations, Mitsubishi Heavy Industries remains committed to sustainable solutions and green investments.
Hitoshi Kaguchi, the senior EVP, president, and CEO of GX solutions at Mitsubishi Heavy Industries Group, highlighted the significance of nurturing practical decarbonization solutions in the industrial sector. During CERAWeek in Houston, he stressed the need for lowering carbon emissions, especially in challenging industrial segments. Mitsubishi Heavy Industries Group is actively involved in energy transition solutions, with a focus on carbon capture and hydrogen. They prioritize carbon capture in the current decade and plan to shift towards hydrogen next. Kaguchi pointed out two major projects in the U.S. that demonstrate their commitment to decarbonization. The Petra Nova Carbon Capture Project in Texas, operational since 2016, captures a significant amount of CO2 daily from a coal-fired power plant. The Advanced Clean Energy Storage project in Utah, set to begin operations soon, aims to be a leading green hydrogen hub. Kaguchi highlighted the importance of these projects in shaping the company's long-term vision for decarbonization. Despite market fluctuations, Mitsubishi Heavy Industries remains steadfast in its dedication to sustainability solutions and green investments, ensuring a sustainable future for the industry.