Toyota Tsusho : Establishes New Company for Production and Supply of Green Hydrogen and Provision of Fuel Cell Vehicles in Europe
July 11, 2024 at 01:03 am EDT
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2024-07-11
Toyota Tsusho Corporation ("Toyota Tsusho") announced today that its wholly owned subsidiary, Toyota Tsusho Europe S.A. ("Toyota Tsusho Europe"), has established a new company, SympH2ony GmbH ("Symphony") with the German company, Messer SE & Co., KgaA ("Messer") to produce and supply green hydrogen and provide fuel cell vehicles ("FC mobility") in Europe.
1. Background and Purpose of Establishing the Company
In the EU, under the "Fit for 55" legislation, which aims to achieve a 55% reduction in greenhouse gas emissions by 2030 compared to 1990, stricter emission regulations (Euro 7) will be applied in stages starting from 2025, making decarbonization in the transportation sector, which emits large amount of GHG, a pressing need. Against the background of these regulations, interest in FC mobility is growing, but the infrastructure for supplying hydrogen, which is a fuel, has not yet been developed and is only being introduced in certain sectors.
Toyota Tsusho has identified "Hydrogen & Alternative Fuels" as one of the seven priority domains for growth strategy and has a track record in the hydrogen business, including the operation of hydrogen stations in Japan and initiatives to convert port machinery and other equipment to FC mobility at the Port of Los Angeles in California, U.S. In addition, Messer is developing the production and sale of a wide range of industrial gases, including hydrogen, around the world, mainly in Europe.
By leveraging their respective capabilities, the two companies have decided to establish a new company to expand the introduction of hydrogen in Europe.
2. Company Overview and Future Outlook
Symphony, the newly established company, will provide a package of services from the production and supply of green hydrogen to the introduction of FC mobility (public buses, trucks, taxis, port cargo handling equipment, etc.). Symphony will carry out proposals that meet customer needs and characteristics, including installing hydrogen production and refueler infrastructure in highly convenient locations, supplying green hydrogen, leasing FC mobility. Green hydrogen can be stably provided at a low cost by procuring optimal renewable energy that leverages the characteristics of each region for green hydrogen production.
To pass on a better environment to the children of the future, the Toyota Tsusho Group will help reduce greenhouse emissions and contribute to the transition to a decarbonized society by promoting hydrogen-related businesses.
Bernd Eulitz, CEO of Messer (right) and Hiromasa Ishii, President and CEO Toyota Tsusho Europe SA (left)
Overview of SympH2ony GmbH
Company name
SympH2ony GmbH
Established
April 20, 2024
Location
Germany
Representative
Tim Evision, CEO
Kenji Yamanaka, Deputy CEO of Toyota Tsusho Europe S.A.
Business description
Hydrogen production and supply business and FC mobility package service provision business that meets customer needs
Investing companies
Messer SE & Co., KgaA (50%), Toyota Tsusho Europe S.A. (50%)
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.
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Toyota Tsusho Corporation published this content on
11 July 2024 and is solely responsible for the information contained therein. Distributed by
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11 July 2024 05:02:06 UTC.
Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity:
- production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.;
- manufacturing of chemical products and electronic components (23.2%);
- production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services;
- manufacturing of industrial machines equipment and gas (10.9%);
- sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services;
- manufacturing of food products (7.7%);
- other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies.
Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).
TOYOTA TSUSHO CORPORATION 
