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Mitsui enters strategic alliance with New Zealand hydrogen supplier Hiringa Energy

| By Mary Bailey

After recently investing in a U.S.-based hydrogen company, Mitsui & Co. (Tokyo) is joining forces with another hydrogen supplier by signing a strategic alliance agreement with New Zealand’s first company dedicated to the supply of green hydrogen, Hiringa Energy

The companies will jointly pursue hydrogen-related commercial projects in New Zealand.

Through the Strategic Alliance Agreement with Mitsui, Mitsui secures access to participate in multiple hydrogen projects developed by Hiringa, including the JV project with Ballance Agri-nutrients and Hiringa’s nationwide refuelling network, which will see hydrogen refuelling stations come online throughout 2021.

In forming this strategic alliance, both companies are working towards a common goal of creating a viable domestic hydrogen economy and export opportunities. The parties have been discussing the potential of hydrogen in New Zealand since 2017, when Mitsui learnt of New Zealand government’s strong aspirations for green hydrogen initiatives and Hiringa’s activities.

Hiringa Chairperson Cathy Clennett says “We are very excited to announce our strategic partnership with Mitsui. Mitsui is a natural partner for Hiringa, having already made significant energy investments in New Zealand including cleantech company LanzaTech, and having considerable experience in large scale energy development and investment. Mitsui brings expertise, capital and international connections, including the capability to market hydrogen internationally, and compliments the partnerships we have been forming in New Zealand to develop the supply chain and market for green hydrogen”.

The strategic alliance builds on the New Zealand Government’s $19.9m funding investment announcement into Hiringa’s Joint Venture with Ballance Agri-Nutrients earlier this year – a $50+ million project to create green hydrogen at Ballance’s Kapuni plant in South Taranaki, and support from Hiringa’s seed investors including Sir Stephen Tindall via his investment company K One W One.