Kyodo News reports that Mitsubishi Corp. has set up a company in Canada to engage in hydrogen production equipment transactions.
H3 Energy Ltd., a wholly owned unit, is located in Vancouver and capitalized at C$14 million (US $10.5 million) to service Canadian fuel-cell and hydrogen-related companies.
The new unit will seek to market equipment that breaks down water to extract hydrogen, called high-compressed hydrogen energy generators, by the end of next year, Mitsubishi said.
It will also aim to form capital and operational alliances with Japanese and foreign companies such as those in engineering, oil, electricity and industrial gas sectors.
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