ENEOS Corporation has made an equity investment in MVCE Gulf Coast, LLC, according to a news release.
MVCE seeks to produce clean hydrogen in the Gulf of Mexico and build a clean hydrogen supply chain between Japan and the US.
“ENEOS is working to build low-cost, stable clean hydrogen supply chains in Japan and overseas,” the release states. “As one aspect of the
initiative, ENEOS is investigating the joint production of hydrogen with business partners in Asia, the Middle East, and Australia as well as the production and transportation of methylcyclohexane (MCH), an effective medium for the efficient form of hydrogen storage and transportation.”
Established by Azimuth Capital Management, MVCE is developing one of the world’s largest plants for the manufacture of hydrogen, MCH, and ammonia in
the Gulf of Mexico. Through its equity participation, ENEOS will verify the commercial feasibility of manufacturing cost-competitive and clean hydrogen in the Gulf of Mexico and exporting MCH to Japan.
