Japanese technology company Asahi Kasei has received government funding to bolster its production of green hydrogen equipment as part of Japan's commitment to achieving carbon neutrality by 2050. The company plans to construct new manufacturing facilities in Kawasaki to increase the annual production of electrolyser components to 2 gigawatts by 2028. This initiative, supported by a $74 million subsidy under Japan's Green Transformation (GX) strategy, is a crucial step in Asahi Kasei's overall $224 million investment to enhance its green hydrogen capabilities. By focusing on green hydrogen, Japan aims to transition away from fossil fuels, with Asahi Kasei poised to produce over 3 gigawatts of electrolyser components annually. The funding will also facilitate the scaling up of alkaline water electrolysers. Asahi Kasei's Lead Executive Officer, Masami Takenaka, expressed the company's vision to become the world's leading water electrolysis equipment manufacturer and supplier, anticipating the growth of a new hydrogen ecosystem. Moreover, Asahi Kasei is not limiting its expansion plans to Japan only but intends to secure a substantial market share in Europe, North America, and India by 2030 through collaborations with global partners. Executive Officer Kenji Takeda emphasized the importance of establishing stable manufacturing supply chains for green hydrogen to advance towards a hydrogen society. Japan's strategic focus on green hydrogen aligns with its leadership in hydrogen technology. The country's investments are pivotal in driving the global adoption of green hydrogen, projected to reach $50.3 billion by 2030. With a current annual demand of over 20 million tonnes of hydrogen, Japan leverages hydrogen across various sectors, including industries and transportation. The GX strategy unveiled in 2022 outlines Japan's ambitious roadmap, earmarking $962 million for technology investments like carbon capture, hydrogen supply networks, and ammonia infrastructure.