Tokyo-Sumitomo Corp.has finalized a memorandum of understanding(MoU)with Lotte Chemical to collaborate in the hydrogen and ammonia fields,mainly in Japan and South Korea.The companies will jointly look into a wide range of business development opportunities in hydrogen and ammonia,including:1.Joint investment in hydrogen and ammonia production projects in Australia,Chile and other regions and the establishment of value chains to Japan and South Korea.2.Development of ammonia storage terminals in Japan and South Korea.3.Commercialization of new hydrogen and ammonia-related technologies and their deployment in the Japanese and South Korean markets.4.Collaboration in the carbon dioxide capture,utilization and storage field.
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