TOKYO : State-owned Japan Oil, Gas and Metals National Corp said on Monday it has been renamed Japan Organization for Metals and Energy Security and will provide equity investment to back the production and storage of hydrogen and ammonia.
To secure a stable supply of hydrogen and ammonia, seen as key to the decarbonised fuels of the future, JOGMEC will either invest in or provide a debt guarantee to businesses producing and storing hydrogen and ammonia both domestically and broad, it said in a statement. Equity investment in overseas projects exploring large-scale geothermal power generation will be possible from April.
JOGMEC, which had 770 employees as of July, plans to boost staffing to meet its expanded role, an official at the organisation said, without giving a specific figure.