Toray Industries and Siemens Energy K.K., the Japanese subsidiary of Siemens Energy AG, were adopted by the Green Hydrogen Project under the Green Innovation Funding Program organized by the Japanese Ministry of Economy, Trade and Industry (METI) and the New Energy and Industrial Technology Development Organization (NEDO). The two companies will receive the funding together with six other companies including the Yamanashi Prefectural Enterprises Bureau, and Tokyo Electric Power Company. Siemens Energy and Toray are jointly promoting the technological development and demonstration of the largest multi-megawatt class PEM electrolysis in Japan with new membrane technology from Toray.

Siemens Energy and Toray Industries will cooperate to provide optimum solutions in order to contribute to the realization of a carbon-neutral society in countries and regions around the world by utilizing our hydrogen related technologies, business and global network. The joint vision of the two companies is to advance the technology for the production of green hydrogen from innovative PEM water electrolysis using renewable energy sources. The resulting green hydrogen can not only be used for large-scale power generation and other electric power applications, but also for sector coupling such as heat, transport, and industrial applications.

Toray will provide Siemens Energy with its proprietary hydrocarbon electrolyte membranes. The two companies will work together to promote the installation and demonstration of these membranes in Siemens Energy's large industrial scale PEM water electrolyzer.