Japanese Companies to Launch $1 Billion Fund for Hydrogen Supply Chains

(Nikkei Asia) — A coalition of more than 400 Japanese companies and organizations plans to set up a $1 billion fund as early as the fiscal half ending September to bolster hydrogen supply chains, with an eye on Japan’s economic security, Nikkei has learned.

The Japan Hydrogen Association — which counts Iwatani Corp., Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. among its members — is looking to invest in the production, storage and safe transport of hydrogen through the fund. The fund will be operated mainly by Tokyo-based private equity firm Advantage Partners Inc.