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ECONOMY

METI to allocate 560 billion yen from 2 trillion decarbonization fund to aviation and maritime projects

  • July 9, 2021
  • , Tokyo Shimbun , p. 7
  • JMH Translation

At an experts meeting, representatives of the Ministry of Economy, Trade and Industry (METI) and others discussed plans to allocate up to 560.8 billion yen out of the 2 trillion yen decarbonization fund to two project areas: aircraft that use hydrogen for fuel and next-generation ship development. The fund supports companies in research and development for decarbonization. The plan will be approved shortly, and applications will be solicited. The research and development of parts for hydrogen-powered aircraft is a pressing need. The major breakdown of the allocations are: 11.63 million yen (maximum) to develop fuel combustion equipment for stable hydrogen combustion and 4.85 million yen (maximum) for fuel tanks capable of storing liquid hydrogen at minus 253 degrees Celsius.

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