@Toyota: Toyota Tsusho Establishes New Company for Production and Supply of Green Hydrogen and Provision of Fuel Cell Vehicles in Europe

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.

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.

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)