HyEng Corporation Established for Joint Development
August 4, 2021
Yanmar Holdings Co., Ltd.
Three of Japan’s leading marine engine manufacturers, Kawasaki Heavy Industries, Ltd., Yanmar Power Technology Co., Ltd., and Japan Engine Corporation have concluded a joint venture contract for combined investment, and today announced the joint establishment of a new company HyEng Corporation.
With a view to contributing to decarbonization in Japan, and promoting development of shipbuilding and maritime industry, the three companies have completed an agreement to facilitate joint investment in establishing a new company, HyEng Corporation, which will pursue joint development of world-leading marine hydrogen-fueled engines. This announcement was shared at the “Zero Emission Ships” seminar held by The Nippon Foundation in May 2021.
With the establishment of HyEng Corporation, the three companies will further advance their joint development activities and accelerate their drive to develop new markets for decarbonization in the marine domain.
|Company Name||HyEng Corporation|
|Address||1 Minamifutami Futamicho, Akashi City, Hyogo Prefecture (On the premises of Japan Engine Corporation HQ factory)|
|Main Business Activities||・Development of hydrogen engine (basic technology) ・Development of international standards and rules for hydrogen fuel supply systems ・Integration of hydrogen fuel supply systems ・Maintenance and operation of hydrogen fuel engine demonstration facilities|
|Date of Establishment||August 2, 2021|
|Fiscal Year End||March 31|
|Shareholders and Investment Ratio||Kawasaki Heavy Industries, Ltd. Yanmar Power Technology Co., Ltd. Japan Engine Corporation||33.33% 33.33% 33.33%|
※The three companies invest equal amounts with the investment ratio rounded to the second decimal place
Reference Release (May 6th, 2021): Japanese Manufacturers Cooperate on Development of Hydrogen Fueled Marine Engines
Zero Emission Shipping: a symposium towards the realization of greenhouse gas free shipping.
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