JERA Allocates $300 Million for Green Tech Startups

JERA, Japan's top liquefied natural gas buyer, announced on Friday that it will invest $300 million in green technology-focused start-ups through a newly formed in-house unit as part of the country's efforts to achieve carbon neutrality by 2050.

JERA, Japan's largest utility, said in a statement that it would target start-ups that develop decarbonisation technologies such as hydrogen, ammonia, and other renewables, digital technologies, and those focusing on women's health.

JERA Ventures intends to invest in venture capital funds associated with such start-ups, according to the company.

Following Japan Prime Minister Fumio Kishida's visit to the Middle East earlier this week, JERA announced a strategic collaboration agreement with ADNOC of the United Arab Emirates to collaborate in clean hydrogen and ammonia.

JERA has also signed a memorandum of understanding with Saudi Arabia's Public Investment Fund, which is leading the world's largest oil producer's decarbonisation drive, to explore the development of green hydrogen projects and derivatives, the company announced on July 21.