Toray Industries, Inc. and Siemens Energy K.K., the Japanese subsidiary of Siemens Energy AG, were adopted by the Green Hydrogen Project under the Green Innovation Funding Program organized by the Japanese Ministry of Economy, Trade and Industry (METI) and the New Energy and Industrial Technology Development Organization (NEDO). The two companies will receive the funding together with six other companies including the Yamanashi Prefectural Enterprises Bureau, and Tokyo Electric Power Company. Siemens Energy and Toray are jointly promoting the technological development and demonstration of the largest multi megawatt class PEM (PEM = Polymer Electrolyte Membrane) electrolysis in Japan with new membrane technology from Toray.
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020.
Toray is an integrated chemical industry company that leverages core strengths in organic synthetic chemistry, polymer chemistry, biotechnology, and nanotechnology to supply materials across a range of fields. These include fibers and textiles, performance chemicals, carbon fiber composite materials, environment and engineering, and life sciences. The company has contributed to society through business since its founding. In 2018, it formulated the Toray Group Sustainability Vision, under which it seeks to help materialize a world that completely offsets greenhouse gas emissions through absorption by 2050. Toray aims to reach carbon neutrality by 2050 for society overall and for itself. It will do so by expanding Green Innovation Businesses to cut greenhouse gas emissions and help resolve environmental, resource, and energy issues and by developing technologies and products that contribute to absorbing greenhouse gases. Toray operates in 29 countries and regions, has around 46,000 employees, and posted revenue of ¥1,883.6 billion (about 14.5 billion euros) in the fiscal year ended March 31, 2021.