MoU signed for carbon neutral industrial complex in Japan

Cosmo Oil Co., Ltd., Denka Company Limited, Iwatani Corporation, JFE Steel Corporation, JNC Corporation, KH Neochem Co., Ltd., Maruzen Petrochemical Co., Ltd., UBE Elastomer Co. Ltd., Ube Material Industries, Ltd., and Yokogawa Electric Corporation hereby announce the signing of a memorandum of understanding (MoU) on a joint study into activities for the establishment of a carbon neutral industrial complex in the Goi district of Ichihara City and the Soga District of Chiba City in Japan’s Chiba Prefecture (carbon neutral Goi and Soga complex).

The Goi and Soga districts form part of the Keiyo Rinkai industrial complex in Chiba, a prefecture adjacent to Tokyo that hosts Japan’s largest concentration of materials and energy companies. The achievement of carbon neutrality at this industrial complex will enhance the overall competitiveness of the companies that maintain operations there and lead the way forward to a sustainable society.

Based on the MoU, Yokogawa and these nine companies that are active in the energy, petrochemical, chemical, steel, materials, and other industries will study the feasibility of the commercialisation of activities by the year 2030 that will be required to make the Goi and Soga industrial complex carbon neutral by 2050. These activities are as follows:

(i) Introduction of an inter-industry energy management system to minimise CO2 emissions.

(ii) The recovery and effective utilisation of CO2 through inter-industry collaboration.

(iii) Reduction in CO2 emissions through inter-industry collaboration in the utilisation of hydrogen and other gas by-products from existing processes.

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