MOSCOW (MRC) -- MOL Clean Energy, US, LLC, a 100% subsidiary of Mitsui O.S.K. Lines, Ltd., and Clean Hydrogen Works, LLC announce MCE as a Joint Venture shareholder in Ascension Clean Energy, a proposed world-scale, clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana, said Hydrocarbonprocessing.
Other shareholders are CHW, Denbury Carbon Solutions, a world-leading carbon solutions provider with more than two decades of successfully managing carbon dioxide, and Hafnia, one of the world's leading oil product tanker owners and operators.
Expected to produce 7.2 million metric tons of clean hydrogen-ammonia annually, ACE will help meet the rapidly emerging demand for affordable, secure, and low-carbon fuels and feedstock around the world. This clean energy will help decarbonize hard-to-abate sectors including power generation, bunker fuel, heavy transportation, steel processing and industrial applications.
"Clean hydrogen-ammonia is critical to decarbonizing the global energy market," said Tomoaki Ichida, CEO, MCE, "With this innovative project, MOL is investing not only for our future growth, but also helping promote the development and adoption of clean hydrogen-ammonia within our fleet and customer base," Ichida added.
As one of the world's largest shipping companies, MOL is well-positioned to help develop safe, sustainable, and efficient solutions to ship ACE's clean hydrogen-ammonia to emerging clean energy markets across the globe.
"With the rapidly evolving macro-environment, the world's net zero goals must be increasingly coupled with affordability and security of energy supply," said Mitch Silver, CHW Senior Vice President and Chief Operating Officer, "MOL's practical yet visionary approach to decarbonization will add critical capabilities and insights to support ACE in delivering on its mission to provide customers with affordable and large-scale clean energy solutions."
ACE is committed to achieving among the world's lowest lifecycle carbon intensity by capturing up to 98 percent of CO2 emissions from its processes, as well as actively managing upstream CO2 and methane emissions. Helping reduce the world's carbon footprint is a critical component in protecting our environment for future generations.
We remind, Toray Industries, Inc., Mitsui Chemicals, Inc., and Kumagai Co., Ltd., announced that they have jointly developed a revolutionary mono-material film packaging material and manufacturing process that are free of volatile organic compounds (VOC). Carbon dioxide emissions are 80% lower than from conventional counterparts with this new material, which is also recyclable.