Mitsubishi Corporation (hereinafter "MC") is pleased to announce its effort to advance Direct Air Capture (DAC) technologies, through participation in a project in Louisiana, USA.

 

Through the project, MC collaborates with multiple third-party DAC technology companies in order to identify innovative technologies anticipated to substantially lower costs, advancing the technology maturation through detailed evaluation and engineering works with the goal of facilitating the early commercialization of DAC.

 

This project will be in collaboration with Shell US Gas & Power (hereinafter "Shell"), who is leading the overall engineering and deployment as part of the project. The project scope centers on a feasibility study that includes evaluating the performance of multiple DAC technologies by demonstrations, supporting DAC technology companies as they design deployments, investing in prioritized distinct DAC technologies, and identifying opportunities to reduce the energy, water, and land resources required for carbon removal, as well as defining the technology needs for future deployment at scale.

 

MC is committed to contributing to the achievement of a carbon-neutral society. This includes plans to utilize captured CO2 as feedstock for producing synthetic fuels such as e-natural gas and Sustainable Aviation Fuel (SAF) on a long-term basis, while also aiming for the global expansion of the DAC business.

 

 

Project Overview

In October 2021, MC unveiled its roadmap to carbon neutrality and its aim to be a net-zero greenhouse-gas emissions company by the year 2050, while striving for a stable energy supply and low-carbon transition. In order to mitigate global warming and achieve net-zero, not only reducing GHG emissions but also removing residual GHG from the atmosphere, namely Carbon Dioxide Removal (CDR) including DAC, is crucial. Hence, there is growing anticipation for the early adoption of DAC technology in society, driven by its potential for innovation and the opportunities to reduce costs through scaling up.

 

Mitsubishi Corporation

Year of Establishment: 1954

Headquarters: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

Representative: Katsuya Nakanishi, President and Chief Executive Officer

Main Operations: MC operates a wide range of businesses spanning multiple industries and overseen by eight industry-specific business groups: Environmental Energy, Materials Solution, Mineral Resources, Urban Development & Infrastructure, Mobility, Food Industry, Smart-Life Creation, and Power Solution.

 

 

 

Based on the Three Corporate Principles, which serve as MC’s core philosophy, MC has continued to grow together with society by contributing to the sustainable development of society through its business activities while pursuing value creation. MC’s revised “Materiality” was announced in Midterm Corporate Strategy 2024 as a set of crucial societal issues that MC will prioritize through its business activities, towards the strategy’s goal of continuous creation of MC Shared Value (MCSV). Guided by this Materiality, MC will continue to strengthen its efforts towards sustainable corporate growth. Out of the six material issues relating to “Realizing a Carbon Neutral Society and Striving to Enrich Society Both Materially and Spiritually”, this project’s activities particularly support “Contributing to Decarbonized Societies”  “Promoting Stable, Sustainable Societies and Lifestyles” and “Utilizing Innovation to Address Societal Needs”.