In an ambitious move to contribute to Japan's goal of achieving carbon neutrality by 2050, JERA, the nation's foremost liquefied natural gas (LNG) buyer and largest utility company, has unveiled plans to invest $300 million in cutting-edge green technology start-ups through its newly established in-house unit, JERA Ventures.
Announced on Friday, JERA Ventures aims to back pioneering start-ups that focus on developing crucial decarbonisation technologies like hydrogen, ammonia, and other renewables. Additionally, the fund will support ventures centered around digital technologies and initiatives pertaining to women's health, seeking to promote sustainability across various sectors.
In pursuit of bolstering its green ambitions, JERA has set its sights on venture capital funds connected to these start-ups, making them eligible investment targets. This strategic approach is expected to amplify the impact of JERA Ventures' contributions and foster a dynamic ecosystem of innovation and progress in the sustainable technology space.
The announcement follows JERA's recent partnership with ADNOC, the United Arab Emirates' national oil company, to collaborate on clean hydrogen and ammonia projects. This partnership was initiated after Japan's Prime Minister, Fumio Kishida, visited the Middle East earlier in the week, solidifying Japan's commitment to international cooperation in combating climate change.
Furthermore, JERA has taken proactive steps towards potential green hydrogen endeavors by signing a memorandum of understanding with Saudi Arabia's Public Investment Fund. The agreement aims to explore the development of green hydrogen projects and derivatives, as Saudi Arabia endeavors to lead the global decarbonisation movement.
As one of the most influential players in the energy industry, JERA's bold investment in green technology start-ups reflects Japan's determination to accelerate its transition to a low-carbon future. Through JERA Ventures, the company seeks to nurture innovative solutions and propel the nation's progress towards carbon neutrality, while contributing to a sustainable and equitable world.
