Latest news with #FrankYu
Yahoo
3 days ago
- Business
- Yahoo
New Global Trade Benchmark: Envision Energy and Marubeni Sign Green Ammonia Offtake Agreement
CHIFENG, China, June 2, 2025 /PRNewswire/ -- Envision Energy, a global leader in green technology, announced a historic green ammonia offtake agreement with Marubeni Corporation, one of Japan's five major trading companies. This pioneering agreement on a global scale validates the commercial viability of green ammonia as a scalable energy solution, sets a global benchmark for its trade, and highlights the vast potential of green hydrogen-ammonia energy across the Asia-Pacific and beyond. The partnership brings together Envision Energy's leadership in integrated green hydrogen-ammonia solutions with Marubeni's expansive global network and energy trade expertise, facilitating large-scale production, supply, and commercialization of green ammonia. It aims to fast-track the global transition to low-carbon energy solutions, particularly in industries such as chemicals and fertilizers, driving sustainable growth across diverse sectors worldwide. This collaboration will also accelerate Japan's shift to a green economy, drive greater investment and innovation, and support the government's sustainability goals. "The global energy landscape is undergoing profound changes, with hydrogen-ammonia playing an increasingly pivotal role." said Mr. Frank Yu, Senior Vice President of Envision Energy, "Together with Marubeni, we are accelerating the commercialization of ammonia, turning it into a key energy solution that powers the world's transition to carbon-neutral fuels. This partnership lays the groundwork for ammonia-powered transportation and electricity generation, ultimately fostering a cleaner and more sustainable energy ecosystem." Envision Energy is the world's leading green hydrogen producer and the only company that possesses core technologies in renewable energy, hydrogen production, and net-zero industrial park, targeting for decarbonization at scale by green hydrogen-ammonia solutions. By pioneering full-stack green hydrogen technologies, including alkaline and PEM electrolysis technologies, along with its engineering competences and system integration capabilities, the company aims to address key challenges in the green hydrogen arena, particularly those related to efficiency and the intermittency of renewable energy sources. The company is at the forefront of developing the world's largest commercial green hydrogen-ammonia plant, leveraging its innovative net-zero industrial park model and full-stack green hydrogen technologies. Fully powered by green electricity from directly coupled wind and solar energy, the plant efficiently integrates wind, solar and storage with hydrogen-ammonia production to optimize costs and enhance sustainability. The initial production phase, launched in early 2024, targets 300,000 tons of green ammonia annually and plans to scale up to a total annual capacity of 1.5 million tons upon completion. Envision's outstanding contribution to decarbonization earned it the Energy Transition Changemaker Award at COP28 and recognition as an "Energy Innovator" on Fortune's Change the World list in 2024. View original content: SOURCE Envision Energy
Yahoo
3 days ago
- Business
- Yahoo
New Global Trade Benchmark: Envision Energy and Marubeni Sign Green Ammonia Offtake Agreement
CHIFENG, China, June 2, 2025 /PRNewswire/ -- Envision Energy, a global leader in green technology, announced a historic green ammonia offtake agreement with Marubeni Corporation, one of Japan's five major trading companies. This pioneering agreement on a global scale validates the commercial viability of green ammonia as a scalable energy solution, sets a global benchmark for its trade, and highlights the vast potential of green hydrogen-ammonia energy across the Asia-Pacific and beyond. The partnership brings together Envision Energy's leadership in integrated green hydrogen-ammonia solutions with Marubeni's expansive global network and energy trade expertise, facilitating large-scale production, supply, and commercialization of green ammonia. It aims to fast-track the global transition to low-carbon energy solutions, particularly in industries such as chemicals and fertilizers, driving sustainable growth across diverse sectors worldwide. This collaboration will also accelerate Japan's shift to a green economy, drive greater investment and innovation, and support the government's sustainability goals. "The global energy landscape is undergoing profound changes, with hydrogen-ammonia playing an increasingly pivotal role." said Mr. Frank Yu, Senior Vice President of Envision Energy, "Together with Marubeni, we are accelerating the commercialization of ammonia, turning it into a key energy solution that powers the world's transition to carbon-neutral fuels. This partnership lays the groundwork for ammonia-powered transportation and electricity generation, ultimately fostering a cleaner and more sustainable energy ecosystem." Envision Energy is the world's leading green hydrogen producer and the only company that possesses core technologies in renewable energy, hydrogen production, and net-zero industrial park, targeting for decarbonization at scale by green hydrogen-ammonia solutions. By pioneering full-stack green hydrogen technologies, including alkaline and PEM electrolysis technologies, along with its engineering competences and system integration capabilities, the company aims to address key challenges in the green hydrogen arena, particularly those related to efficiency and the intermittency of renewable energy sources. The company is at the forefront of developing the world's largest commercial green hydrogen-ammonia plant, leveraging its innovative net-zero industrial park model and full-stack green hydrogen technologies. Fully powered by green electricity from directly coupled wind and solar energy, the plant efficiently integrates wind, solar and storage with hydrogen-ammonia production to optimize costs and enhance sustainability. The initial production phase, launched in early 2024, targets 300,000 tons of green ammonia annually and plans to scale up to a total annual capacity of 1.5 million tons upon completion. Envision's outstanding contribution to decarbonization earned it the Energy Transition Changemaker Award at COP28 and recognition as an "Energy Innovator" on Fortune's Change the World list in 2024. View original content: SOURCE Envision Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
02-04-2025
- Automotive
- South China Morning Post
Hong Kong ‘perfect for F1', resident involved in successful bid for Bangkok race says
The city would be 'a perfect venue for Formula One' and should campaign to stage a race or risk being left behind by its neighbours, a Hongkonger who worked on the successful bid to bring the elite motorsport to Thailand has said. Advertisement Bangkok is expected to be part of the F1 schedule from 2028, joining Japan, Singapore and Shanghai as Asian stops on an increasingly congested calendar that now has 24 events on it. With South Africa and Rwanda among other places also aggressively bidding to join the circuit, Hong Kong could leverage F1's booming popularity in China to become 'a serious player in international sport'. According to data released last week, the high-speed bonanza added almost 90 million new fans last year, with a 39 per cent increase registered on the mainland in the past 12 months. And with Las Vegas reporting a race-week economic impact of US$934 million from staging a grand prix in 2024, when the gambling hub said visitors spent an average of US$2,400 on 'non-race-related expenditures', Hongkonger Frank Yu Siu-fung called making a bid 'a no-brainer'. Frank Yu and Stefano Domenicali, CEO of Formula One, (centre) alongside Louise Young, chief race promotion officer, and Mark Hughes, of Mark1 consultants, in Thailand. Photo: Frank Yu 'Hong Kong is due to have a major international event,' said Yu, who was appointed to lead the technical team to work with F1 and the Thai government as part of its successful bid. 'The Sevens is great, we had Formula E, but other than World Cups, there is nothing like Formula One. And the amount of traction you get from it, is unbelievable.'
South China Morning Post
01-04-2025
- Automotive
- South China Morning Post
Hong Kong ‘perfect for F1', says resident involved in successful bid for Bangkok race
The city would be 'a perfect venue for Formula One' and should campaign to stage a race or risk being left behind by its neighbours, a Hongkonger who worked on the successful bid to bring the elite motorsport to Thailand has said. Advertisement Bangkok is expected to be part of the F1 schedule from 2028, joining Japan, Singapore and Shanghai as Asian stops on an increasingly congested calendar that now has 24 events on it. With South Africa and Rwanda among other places also aggressively bidding to join the circuit, Hong Kong could leverage F1's booming popularity in China to become 'a serious player in international sport'. According to data released last week, the high-speed bonanza added almost 90 million new fans last year, with a 39 per cent increase registered on the mainland in the past 12 months. And with Las Vegas reporting a race-week economic impact of US$934 million from staging a grand prix in 2024, when the gambling hub said visitors spent an average of US$2,400 on 'non-race-related expenditures', Hongkonger Frank Yu Siu-fung called making a bid 'a no-brainer'. Frank Yu and Stefano Domenicali, CEO of Formula One, (centre) alongside Louise Young, chief race promotion officer, and Mark Hughes, of Mark1 consultants, in Thailand. Photo: Frank Yu 'Hong Kong is due to have a major international event,' said Yu, who was appointed to lead the technical team to work with F1 and the Thai government as part of its successful bid. 'The Sevens is great, we had Formula E, but other than World Cups, there is nothing like Formula One. And the amount of traction you get from it, is unbelievable.'
