Mitsubishi Companies Contributing Expertise for Iceland's Clean Energy Policy

Mitsubishi Heavy Industries Ltd. (MHI) and Mitsubishi Corporation (MC) have reached an agreement with the Icelandic government to help ending the country's dependence on fossil fuels. The memorandum of understanding (MOU) was signed on September 19, 2008, in Iceland. As the first step of this initiative, MHI and MC plan to cooperate in the development of infrastructure for verification testing of a new-generation electric vehicle (EV) that emits no carbon dioxide (CO2) and has an operating cost considerably less than gasoline vehicles.

Since the 1980's, Iceland has been shifting its energy sources to renewable energy, and the country now generates almost all its primary electricity from geothermal or hydropower. Iceland has also launched various initiatives to become a society that uses hydrogen as a principal energy source in the near future, and is earning a reputation for its progressive clean energy policies. For transportation such as automobiles and ships, however, the country still relies on fossil fuels, but plans to improve on this situation as soon as possible.

Based on the MOU, MHI and MC intend to apply their respective technologies and know-how to make even more proactive proposals to Iceland in the areas of energy and the environment. Also, the two companies will collaborate in the manufacture and supply of clean fuel to replace diesel for fishing vessels, since the fisheries are one of Iceland's major industries. MHI and MC aim to leverage the experience gained through the pilot programs in Iceland to expand their activities globally.

- MHI and MC to Contribute to Iceland's Clean Energy Policy
http://www.mhi.co.jp/en/news/story/080919english.html

Posted: 2009/02/11 06:00:15 AM