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Asahi Kasei and Toray Industries Accelerate Green Hydrogen Initiatives

Boosting Electrolyzer Production and Component Output, Companies Target Global Hydrogen Economy
Japan
a 3407.TSE t 3402.TSE Mid and Small Cap 2000
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Asahi Kasei and Toray Industries are making significant strides in the green hydrogen sector, aiming to capitalize on the growing demand for sustainable energy solutions. Asahi Kasei is set to enhance its production capabilities for electrolysis equipment, leveraging technology from its alkaline water electrolyzers. With a pilot plant launching this spring in Kawasaki, the company is poised to commence orders by 2025, aiming to double its production capacity to 2 gigawatts (GW) annually by fiscal 2025. This expansion, alongside the automation of production lines at its Kawasaki and Nobeoka factories, underscores Asahi Kasei’s ambition to become a leading developer of hydrogen electrolyzers, targeting annual sales of 100 billion yen ($683 million) by around 2030.

Parallelly, Toray Industries is expanding its production of catalyst-coated membranes, a crucial component in electrolyzers, through its German subsidiary. The opening of a third factory in October has already more than tripled its capacity to 1.4 GW, with plans to further increase to 3 GW by 2025. This expansion is part of Toray’s broader strategy to triple its hydrogen-related revenue to 60 billion yen between fiscal 2022 and fiscal 2025.

These initiatives reflect a global shift towards green hydrogen, produced through the electrolysis of water using renewable energy sources, as a carbon-neutral energy carrier. With countries like Germany and Japan setting ambitious targets for electrolyzer installation by 2030, Asahi Kasei and Toray Industries are positioning themselves at the forefront of the hydrogen economy, contributing to the reduction of carbon dioxide emissions and the advancement of sustainable energy technologies.

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