New Zealand hydrogen developer Hiringa Energy has signed an investment deal with Japanese trading and investment multinational Mitsui & Co.
Mitsui has made an initial investment to become a shareholder in Hiringa Energy alongside seed investor K One W One (K1W1) which is owned by Sir Stephen Tindall.
Mitsui and Hiringa have been in talks since 2017, and the investment builds upon the strategic alliance agreement signed in June 2020 between the two companies to develop multiple hydrogen-related commercial projects.
This including Mitsui’s participation in Hiringa’s Kapuni project and refuelling network project.
Mitsui and K1W1 have a track record of joint investment in innovative climate-tech companies such as Lanzatech.
With K1W1’s New Zealand business eco-system experience, Mitsui provides cross-industrial expertise among power generation, fuel, mobility, machinery, finance and trade. It’s expected this will provide global reach for future growth to export green hydrogen.
Hiringa’s establishment of New Zealand’s first hydrogen refuelling network is set to support local heavy transport and commercial industries.
