TOKYO, Nov 27, 2023 - (JCN Newswire) - Mitsubishi Heavy Industries Ltd.

MHI and Orica Announce Collaboration to Explore Emissions Reduction Opportunities. (MHI) and Orica have signed a Memorandum of Understanding to explore potential opportunities for collaboration on emission reduction initiatives, aligned with MHI and Orica's shared decarbonisation ambitions. The collaboration will leverage MHI's reputation for manufacturing excellence and innovation, as well as Orica's existing presence and emerging opportunities in the global renewable hydrogen and ammonia markets.

MHI and Orica team

Orica Kooragang Island site

The collaboration covers various areas of mutual interest, including:

exploring technology deployment opportunities for renewable hydrogen and renewable ammonia production near Orica's facilities in Newcastle and Gladstone, Australiacreating demand opportunities for renewable hydrogen and renewable ammonia in the power generation, maritime, industrial and agricultural industriesinvestigating activities to further reduce emissions from Orica's existing operations.

Orica is building a strong pathway towards achieving net zero emissions by latest 2050, while positioning the business for a lower carbon world. Orica's continued partnerships and investment in decarbonisation and the production of renewable hydrogen and renewable ammonia will support Orica's sustainability goals and also support the individual goals of existing and future customers, including in key Asian growth markets such as Japan.

Orica Chief Development and Sustainability Officer, Andrew Stewart, said: "We are delighted to partner with MHI, a company that shares our vision and commitment to a more sustainable future. This collaboration signals another step towards building Orica's climate resilience and opportunities to support further growth while supporting our customers to achieve their ESG goals. We look forward to working with MHI to explore potential emissions reduction opportunities for our organisations and our customers."

On the signing of the MOU, Dr. Hitoshi Kaguchi, Senior Executive Vice President at MHI responsible for energy transition and the expansion of growth fields, said "It is a great honour to be able to collaborate with Orica, a leader in decarbonising hard to abate industry and developing low carbon fuel value chain in Australia. We are looking forward to contributing to Orica's Net Zero Ambition through our reliable technology in the future."

About Orica

Orica (ASX: ORI) is one of the world's leading mining and infrastructure solutions providers. From the production and supply of explosives, blasting systems, mining chemicals and geotechnical monitoring to our cutting-edge digital solutions and comprehensive range of services, we sustainably mobilise the earth's resources.Operating for nearly 150 years, today our 12,500+ global workforce supports customers across surface and underground mines, quarry, construction, and oil and gas operations. Sustainability is integral to our operations. We have set an ambition to achieve net zero emissions by 2050 and are committed to playing our part in achieving the goals of the Paris Agreement.Find out more about Orica: www.orica.com

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

Source: Mitsubishi Heavy Industries, Ltd.

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