News
HyEng Corporation Established for Joint Development
Three of Japan’s leading marine engine manufacturers, Kawasaki Heavy Industries, Ltd., Yanmar Power Technology Co., Ltd., and Japan Engine Corporation have concluded a joint venture contract for combined investment, and today announced the joint establishment of a new company HyEng Corporation.
With a view to contributing to decarbonization in Japan, and promoting development of shipbuilding and maritime industry, the three companies have completed an agreement to facilitate joint investment in establishing a new company, HyEng Corporation, which will pursue joint development of world-leading marine hydrogen-fueled engines. This announcement was shared at the “Zero Emission Ships” seminar held by The Nippon Foundation in May 2021.
With the establishment of HyEng Corporation, the three companies will further advance their joint development activities and accelerate their drive to develop new markets for decarbonization in the marine domain.
Company Overview
| (1) | Company name | HyEng Corporation |
| (2) | Address | 1 Minamifutami Futamicho, Akashi City, Hyogo Prefecture (On the premises of Japan Engine Corporation HQ factory) |
| (3) | President | Seiji Shindo |
| (4) | Main Business Activities | ・Development of hydrogen engine (basic technology) ・Development of international standards and rules for hydrogen fuel supply systems ・Integration of hydrogen fuel supply systems ・Maintenance and operation of hydrogen fuel engine demonstration facilities |
| (5) | Capital | JPY 12,000,000.- |
| (6) | Date of Establishment | August 2, 2021 |
| (7) | Fiscal Year End | March 31 |
| (8) | Shareholders and Investment Ratio | Kawasaki Heavy Industries, Ltd. 33,33 % Yanmar Power Technology Co., Ltd. 33,33 % Japan Engine Corporation 33.33 % |
※The three companies invest equal amounts with the investment ratio rounded to the second decimal place.
Reference
Release (May 6th, 2021): Japanese Manufacturers Cooperate on Development of Hydrogen Fueled Marine Engines
https://www.yanmar.com/global/news/2021/05/06/91508.html
Zero Emission Shipping: a symposium towards the realization of greenhouse gas free shipping.
https://www.nippon-foundation.or.jp/who/news/information/2021/20210519-57451.html
<Note>
Information contained in the news release is valid at the time of publication and may differ from the most recently available information.
