Mitsubishi Heavy Industries, Ltd. (MHI) has signed a Memorandum of Understanding (MoU) with Taiwan Fertilizer Co., Ltd. (TFC) to conduct a joint pre-feasibility study on establishing an ammonia value chain in Taiwan. This initiative supports Taiwan's goal of achieving "2050 Net-Zero Emissions." The MoU outlines the assessment of facilities and economic feasibility for the fuel ammonia value chain, including ammonia receiving, storage, handling, and delivery to power plants, as well as its use as a fuel for power generation. MHI and TFC aim to establish a robust ammonia value chain in Taiwan through this study. Ammonia, composed of hydrogen and nitrogen, is an efficient hydrogen carrier and can be combusted as fuel without producing CO2. As ammonia becomes a prominent clean fuel, establishing a comprehensive value chain from production to utilization will significantly contribute to a carbon-neutral society. In March 2022, the Taiwanese government announced its goal of carbon neutrality by 2050, emphasizing carbon emission reduction and the adoption of low-carbon fuels. TFC is committed to promoting the use of blue and green ammonia as fuel, as demonstrated by its importation of Taiwan's first low-carbon ammonia in June 2023 and the establishment of an Ammonia Energy Division in January 2024. MHI Group is focused on the energy transition, aiming for decarbonization to achieve carbon neutrality by 2040. This collaboration with TFC will support the establishment of a fuel ammonia value chain in Taiwan, meeting the decarbonization needs of various industries, including power generation, and contributing to a sustainable, carbon-neutral world. Note:Blue ammonia: is produced using hydrogen from fossil fuels with CO2 capture.Green ammonia: Produced using renewable energy, water, and air without emitting CO2.Low-carbon ammonia: reduced CO2 emissions throughout the supply chain, including CO2 separation and capture during production. About Taiwan Fertilizer Co., Ltd. Founded on May 1, 1946, Taiwan Fertilizer Co., Ltd. (TFC) is the largest modern fertilizer production enterprise in Taiwan, headquartered in Nangang District, Taipei City. In response to the international wave of carbon reduction and the 2050 net-zero emission policy, TFC is actively promoting clean energy initiatives to achieve growth and excel in economy, environment, and society.