IHI and Yara Clean Ammonia Agree to Jointly Assess Clean Ammonia Business Collaboration
IHI Corporation today announces that it has concluded a memorandum of understanding with Yara Clean Ammonia Norge AS to jointly assess potential collaboration in the clean ammonia value chain. The latter company is a subsidiary of Norway’s Yara International ASA, the world’s largest nitrogen-based fertilizer manufacturer.
The Yara Group leads the world in producing, selling, and transporting ammonia by sea. Under this agreement, the two companies will explore ways to enhance marine transportation of clean ammonia that IHI intends to procure from India and other countries. They will also assess setting up a collaborative international ammonia transportation system to accommodate supply fluctuations and develop a clean ammonia production business.
Ammonia is an advanced clean energy source because its combustion is free of carbon dioxide emissions. It can thus offer decarbonization solutions beyond its use as a fertilizer feedstock. Examples include using ammonia to fuel power plants and as a raw material in chemical products.
IHI will cater to projected demand growth for clean ammonia by leveraging its leading global position to build a value chain encompassing everything from production to supply to end customers.
Related press release:
January 23, 2024 – IHI and ACME Sign Term Sheet to Supply Green Ammonia from India to Japan
https://www.ihi.co.jp/en/all_news/2023/resources_energy_environment/1200584_3523.html