The European Commission (EC) has approved, under the EU Merger Regulation, the creation of a joint venture by Japanese companies INPEX Corporation, Kawasaki Heavy Industries, and Iwatani Corporation that aims to develop a liquefied hydrogen supply chain.
On February 22, the EC issued a document stating that the companies will acquire joint control over the whole of the undertaking Japan Suiso Energy, Ltd. (JSE) by way of purchase of shares.
The transaction relates primarily to the liquefaction of hydrogen in Australia and its transport to Japan.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
JSE was established to research, plan, invest in, and operate an international liquefied hydrogen supply chain and is currently engaged in the Liquefied Hydrogen Supply Chain Commercialization Demonstration Project selected by the New Energy and Industrial Technology Development Organization’s (NEDO) Green Innovation Fund project in August 2021.
The project aims to support the development of hydrogen liquefaction and transportation technology on a scale of tens of thousands of tons per year for commercialization in the 2030s and the establishment of an integrated international liquefied hydrogen supply chain from Australia to Japan.
INPEX joined the project in October 2023 by acquiring a 30% equity stake in JSE. Kawasaki holds 36.6% while Iwatani holds the remaining 33.4%.