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    7011   JP3900000005

MITSUBISHI HEAVY INDUSTRIES, LTD.

(7011)
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Delayed Quote. Delayed Japan Exchange - 01/21 01:00:00 am
3051 JPY   -0.33%
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MHIENG Receives Order for Compact CO2 Capture System for Biomass Power Plant in Hiroshima

12/01/2021 | 04:58am EST

TOKYO, Dec 1, 2021 - (JCN Newswire) - - Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG), a group company of Mitsubishi Heavy Industries, Ltd. (MHI), has received an order for compact CO2 capture system from Taihei Dengyo Kaisha, Ltd., a provider of plant construction, maintenance and auxiliary services, for incorporation into a biomass power plant. The system offers a capture capacity of 0.3 metric tons per day (tpd). Spurred by this latest order, going forward MHIENG will promote decarbonization in all sectors globally, especially power and industrial production, as a way of contributing to the realization of a carbon-neutral society.

Taihei Dengyo today is targeting establishment of carbon-negative solutions from carbon-neutral system, to help realize a circular society. The company seeks to achieve this shift through separation, capture and initial storage of the CO2 emitted by biomass power plants, followed by use of the stored carbon to grow plants, etc. The introduction of the newly ordered compact CO2 capture system is part of that initiative. Plans call for its integration into a 7-megawatt (MW) class biomass power plant operated by Taihei Dengyo in "Hiroshima Seifu Shinto," an urban complex within Hiroshima City.

The newly ordered system is based on a test plant manufactured to verify the impact of applying the new CO2 capture system to a biomass flue gas source, which made early commercialization possible. The base system is a pilot facility used in the bioenergy with carbon capture and storage (BECCS) project(Note1) conducted at a biomass power plant owned by Drax Group, one of the United Kingdom's leading power providers. The basic configuration has been upgraded with the addition of automated operation and other functions for the commercialization.

The system on order is easily installed, requires an installation space of modest size - only 5 meters in length and 2 meters wide - and can be transported from the factory by truck. It features a modular design enabling mass production, and its highly versatile standardized design reduces investment, operation and maintenance costs and results in faster delivery. For these reasons, the new system can respond to a broad range of needs to cut carbon emissions at relatively compact facilities in the industrial sector, etc. Going forward, the system lineup will be expanded to enable carbon capture from diverse emission sources worldwide, and eventually MHIENG expects to provide operational support services using its proprietary remote monitoring system. In this way, the Company aims to put in place a fully integrated customer support structure from system design to after-sale servicing.

The CO2 capture technology adopted in the new system is the "KM CDR Process"(2), jointly developed by MHIENG and Kansai Electric Power Co., Inc. (KEPCO), which employs the high-performance "KS-1" amine solvent. The technology significantly reduces energy consumption. As of November 2021, MHIENG has delivered a total of 13 commercial plants using the KM CDR Process at locations worldwide, and two more plants are currently under construction. This robust track record gives MHIENG the top share of the global market for commercial plants in terms of CO2 capture volume.

MHI Group is currently undertaking strategic strengthening of its business in the energy transition, and development of a CO2 ecosystem is a core component of that initiative. Carbon capture, utilization and storage (CCUS) is garnering attention as an effective means for realizing a carbon-neutral society.

Going forward, MHIENG will continue to contribute toward reducing greenhouse gas emissions on a global scale by promoting broad adoption of high-performance CO2 capture technology worldwide. It will also press ahead in developing new proprietary technologies to protect the global environment.

(1) For information concerning this project, refer to the following press release

https://www.mhi.com/news/200624.html

(2) Kansai Mitsubishi Carbon Dioxide Recovery Process. This technology has been under joint development by MHIENG (originally MHI) and KEPCO since 1990. KS-1 is currently used in all commercial plants where the KM CDR Process is adopted, chosen as a solvent offering outstanding reliability and competitive advantages. MHIENG and KEPCO today continue to improve the KM CDR Process. KS-21, used in the newly developed "Advanced KM CDR Process," offers even lower volatility and higher stability against degradation, and its adoption is expected to lead to reduced operating costs and other economic benefits.

Copyright 2021 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2022 3 701 B 32 505 M 32 505 M
Net income 2022 97 154 M 853 M 853 M
Net Debt 2022 929 B 8 156 M 8 156 M
P/E ratio 2022 10,7x
Yield 2022 3,09%
Capitalization 1 027 B 9 011 M 9 024 M
EV / Sales 2022 0,53x
EV / Sales 2023 0,48x
Nbr of Employees 79 974
Free-Float 91,2%
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Mitsubishi Heavy Industries, Ltd. Technical Analysis Chart | 7011 | JP3900000005 | MarketScreener
Technical analysis trends MITSUBISHI HEAVY INDUSTRIES, LTD.
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 3 061,00 JPY
Average target price 3 544,00 JPY
Spread / Average Target 15,8%
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Managers and Directors
Seiji Izumisawa President, CEO, Director & Chief Strategy Officer
Hisato Kozawa CFO, Representative Director & Manager-Corporate
Shunichi Miyanaga Representative Director
Eisaku Ito CTO & Managing Executive Officer
Naoyuki Shinohara Independent Outside Director
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