Yara and Japan Bank for International Cooperation explore strategic collaboration in Japan

JBIC and Yara will accelerate the formation of projects for the establishment of a fuel ammonia supply chain through the framework for collaboration between the two parties by signing the MoU on strategic cooperation.

- By signing the MoU, we have a framework for collaboration. Yara Clean Ammonia and JBIC will accelerate the formation of projects for the establishment of a global clean ammonia supply chain to Japan, says Mr. Magnus Krogh Ankarstrand, President of Yara Clean Ammonia.

- It is a great honour to strengthen JBIC’s cooperative relationship with YARA, one of the world’s most prominent leaders in the ammonia business. JBIC looks forward to collaborating with Yara in a dedicated effort to work toward establishing a competitive clean ammonia supply chain that also contributes positively to the realization of a decarbonized society” , says Mr. INABA Yutaka, Managing Executive Officer, Global Head of Energy and Natural Resources Finance Group, JBIC.

Yara aims to establish an international supply chain of clean ammonia to realize a decarbonized society. Clean ammonia is a superior hydrogen carrier and important zero-emission fuel that may be used for power production, deep sea shipping, and for green fertilizer production.

Ammonia does not emit carbon dioxide during combustion and is seen as an effective future energy source. Blue ammonia is derived from a carbon capture and storage process (CCS), while green ammonia is produced carbon free by using hydrogen sourced from renewable energy as feedstock. The term clean ammonia comprises both blue and green ammonia.

This MoU with JBIC is the fifth collaboration on clean ammonia that Yara has announced with key Japanese partners, including JERA, Kyushu Electric Power and Idemitsu Kosan. Sumitomo Chemical.