JERA Co., Inc (“JERA”) and Lotte Fine Chemical Co., Ltd. (“LFC”) have signed a Joint Collaboration Agreement to advance low carbon fuel value chains. The partnership aims to standardize commercial frameworks, optimize ammonia portfolios, and collaborate with governments to establish and expand low carbon fuel value chains. The governments of Japan and South Korea have launched a program called “Japan-ROK Hydrogen and Its Derivatives such as Ammonia Cooperation Dialogue” to foster collaboration in key areas. Officials from both countries have expressed support for the JERA-LFC agreement, emphasizing the importance of cooperation in achieving energy security and building resilient supply chains for clean hydrogen. JERA's Chief Low Carbon Fuel Officer, Ryosuke Tsugaru, highlighted the company's commitment to energy transition in Asia and decarbonization efforts across various sectors. Lotte Fine Chemical CEO, Kim Yong-seok, praised the collaboration with JERA, noting the company's investment in clean ammonia supply chains and infrastructure in Asia. Both companies aim to contribute to global decarbonization, solve energy issues, and enhance national competitiveness through their collaboration. The agreement underscores the significance of private sector cooperation in expanding the clean hydrogen supply chain and driving the hydrogen economy. JERA and LFC are focused on strengthening low carbon fuel value chains at regional, national, and international levels.