Itochu, Osaka Gas to buy up to 40% of hydrogen producer Everfuel

Japan pair aim to build green-energy supply chain with Danish startup's know-how

Osaka Gas and Japanese trading company Itochu will invest up to $68 million in Danish startup Everfuel, which will produce "green hydrogen" from renewable energy.

TOMOYA ONISHI, SHIMPEI NAKAMURA and NAOYUKI TOYAMA, Nikkei staff writers

December 12, 2023 17:45 JST

TOKYO/OSAKA -- Japanese trading house Itochu and utility Osaka Gas plan to enter the hydrogen business by taking a stake of up to 40% in Danish hydrogen producer Everfuel, Nikkei has learned.

Everfuel will begin making 3,000 tonnes of hydrogen a year in 2024, becoming one of the largest producers in the world. Itochu and Osaka Gas hope to gain production know-how and speed up the development of a hydrogen supply chain, including their own production bases.