Exxon Mobil Corporation and Mitsubishi Corporation have announced a Project Framework Agreement to collaborate on a low-carbon hydrogen and ammonia production facility in Baytown, Texas. The agreement entails discussions on Mitsubishi's off-take of low-carbon ammonia and potential equity participation. The facility aims to capture 98% of CO2 emissions and become the world's largest of its kind, capable of producing significant amounts of low-carbon hydrogen and ammonia daily. A final investment decision is expected in 2025, with operations projected to commence by 2029. The venture is part of efforts to provide a sustainable and reliable energy source, adhering to high operational standards. Mitsubishi plans to repurpose part of its LPG terminal into an ammonia terminal to supply low-carbon ammonia to industries in Japan. The companies aim to facilitate the transition to clean energy in hard-to-abate sectors. Masaru Saito, the Group CEO of Environmental Energy Group at Mitsubishi, expressed excitement about the collaboration, emphasizing the goal of bridging energy supply chains between the U.S. and Japan. The partnership also involves Idemitsu Kosan Co., Ltd., which is developing an ammonia hub near Mitsubishi's terminal. Investors interested in Exxon Mobil can access the company's shares through ETFs like EA Series Trust Strive U.S. Energy ETF DRLL and Westwood Salient Enhanced Energy Income ETF WEEI. The positive sentiment surrounding the venture reflects a significant step towards sustainable energy production and international collaboration in the energy sector.