Sasol and ITOCHU Announcing MoU on Green Hydrogen and Ammonia

Sasol and ITOCHU Corporation have signed a Memorandum of Understanding (MoU) to jointly study and develop the market and supply chain for green ammonia with a focus on its use as bunkering fuel and for power generation.

The parties will also evaluate ITOCHU's potential involvement and participation in Sasol's green ammonia export-orientated project(s), including product offtake as well as financial support from Japan for studies and grants relating to green ammonia projects in South Africa.

The MoU has been signed during the Tokyo International Conference on African Development (TICAD 8) in Tunisia, which is a forum to advance Japan-Africa sustainable development on the continent.

MUFG Bank Ltd, one of the largest Financial Institutions in the world, and a market leader in sustainable financing solutions, witnessed the signing of the MoU.

MUFG Bank, Ltd (MUFG) witnessed the signing of the MoU. Takanori Sazaki – Senior Executive Officer, Regional Executive Officer EMEA said: "MUFG is committed to empowering a brighter future and are proactive in addressing climate change and environmental protection issues. As the first Japanese Bank to declare carbon neutrality and participate in the UN-led Net Zero Banking Alliance (NZBA), this MoU aligns with our commitment of achieving Carbon Neutrality by 2050. We were very pleased to witness the signing of this MoU between Sasol and ITOCHU – not only because both companies are our important and long-standing clients, but also because the envisaged cooperation deals with green hydrogen and ammonia, which we believe will play a key role in establishing a low-carbon society".