English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 30 November 2022, 16:02 JST
Share:
    

Source: Mitsubishi Heavy Industries, Ltd.
Mitsubishi Heavy Industries Engineering to be Integrated into MHI
-- Strengthening Group Structure for Realization of Carbon Neutral Society --

- MHI to apply Groupwide strengths to promotion of Energy Transition


TOKYO, Nov 30, 2022 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG) have agreed to integrate the business operations of MHIENG with those of MHI effective April 1, 2023. Under an absorption-type split arrangement, operations currently conducted by MHIENG will be taken over by MHI and placed under the direct management of MHI's president and CEO. The integration of MHIENG into MHI will further accelerate the "Energy Transition" that serves as one of MHI Group's central growth engines.

In its 2021 Medium-Term Business Plan released in October 2020, MHI Group announced plans to substantially increase its corporate value by 2030 with "Energy Transition" and "Smart Infrastructure (New Mobility & Logistics)" serving as the Company's two growth engines. In striving to strengthen its Energy Transition business, development of a CO2 solutions ecosystem is a component of major importance. Today, carbon capture, utilization and storage (CCUS) is garnering attention as an effective means for realizing a carbon neutral society. Also, ammonia is recognized to be effective both as a fuel for ships and thermal power plants, where its usage results in reduced carbon emissions, and as a means for transporting hydrogen, and the market for ammonia is expected to grow sharply in the coming years. In response, MHI is now pursuing a broad array of initiatives for establishing markets for carbon-free hydrogen and ammonia, including development of a hydrogen ecosystem and partnering with external incubation investments. The Company is also fortifying its capabilities in integrating multiple product areas.

MHIENG was launched in January 2018 as an MHI Group company. Today it provides world-class technologies in the engineering, manufacture, procurement, construction, marketing and after-sale servicing of chemical plants, transportation systems, carbon capture systems, etc. Furthermore, besides its prowess in carbon capture technologies, MHIENG has abundant experience in applications involving ammonia and hydrogen. Following its integration into MHI, MHIENG's project management capabilities in chemical plants and transportation systems, together with its core technologies in value chain development, will be organically combined with MHI's technologies. The resulting comprehensive capabilities will further accelerate MHI Group's solutions businesses in both Energy Transition and New Mobility & Logistics.

Through the forthcoming integration, MHI Group will further contribute to making effective use of resources and reducing environmental impacts, continuing the challenge to achieve a carbon neutral society.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

Topic: Press release summary
Source: Mitsubishi Heavy Industries, Ltd.

Sectors: Energy, Alternatives
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 
Mitsubishi Heavy Industries, Ltd. Links

http://www.mhi-global.com

https://www.youtube.com/user/DiscoverMHI

https://www.linkedin.com/company/mitsubishi-heavy-industries

Mitsubishi Heavy Industries, Ltd. Related News
Thursday, 2 February 2023, 17:03 JST
Mitsubishi Shipbuilding and INPEX Complete Conceptual Study for Ammonia Bunkering Vessel
2023年2月2日 12時00分 JST
三菱造船、INPEX社と「アンモニアバンカリング船」のコンセプトスタディーを実施
Wednesday, 1 February 2023, 16:52 JST
Compact CO2 Capture System Receives "Awards for Excellence" at the 2022 Nikkei Excellent Products and Services Awards
2023年2月1日 15時20分 JST
三菱重工、小型CO2回収装置が「2022年日経優秀製品・サービス賞」最優秀賞を受賞
2023年1月31日 12時00分 JST
MHI-MS、エレベーター式駐車場向け非接触対応操作盤「S-match」を開発
More news >>
Copyright © 2023 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575