MHI Global

In a pivotal move towards advancing its Clean Energy Precinct (CEP), the Port of Newcastle has solidified its partnership with Mitsubishi Heavy Industries, Ltd (MHI) through a formal Advisory Agreement. The agreement marks a significant milestone for the Port of Newcastle, allowing it to harness MHI’s extensive expertise in hydrogen and ammonia production, storage, and distribution. This collaboration will play a crucial role in informing the ongoing Front End Engineering Design (FEED) studies for the CEP. Craig Carmody, CEO of Port of Newcastle, emphasised the strategic importance of this partnership, stating, “It’s an honour for us to collaborate with Mitsubishi Heavy Industries, leveraging their technical know-how to advance our common user facility in the Clean Energy Precinct.” Takehiko Kikuchi, Senior Fellow and Chief Regional Officer for Asia Pacific & India at MHI, expressed enthusiasm about the collaboration, highlighting MHI’s commitment to supporting Newcastle’s leadership in clean energy production. “MHI’s Takasago…

Based on the FY2024-2026 Medium-Term Business Plan (MTBP) released in May and which builds on the record FY2023 financial results, MHI is back in growth mode. Over the next three years, MHI expects revenues to increase by at least 20% to ¥5.7 trillion, with business profit rising at least 60% to ¥450 billion. Our return on equity will continue to improve, reaching a minimum of 12%. After recovering from several tough years at the start of this decade and strengthening MHI’s financial and operational foundations, we are set to deliver a growth ‘boost’ to stakeholders. MTBP: MHI’s Strategic Roadmap Before detailing the sources of this growth, it is important to understand the significance of the MTBP to an organisation like MHI. Put simply, it is our strategic roadmap. Senior management is guided by it and treats the financial targets as commitments. We use it to inform investors and financial analysts that…

As an efficient way to provide heating and hot water for homes and businesses, it’s no surprise that heat pumps are billed as a central technology in the global transition to secure and sustainable heating. Switching to heat pumps globally could eliminate 500 million tonnes of emissions in 2030, according to the International Energy Agency (IEA). Heat pumps can also produce around four times more energy than they take in and run on electricity generated through sustainable sources such as solar, wind or nuclear. In addition to helping governments, businesses and homeowners meet their environmental goals, heat pumps provide long-term savings and help protect homes and commercial buildings against unpredictable energy costs and taxes. The need for accelerated growth Globally, heat pump sales are seeing double-digit growth, but that is not enough: heat pump sales will need to increase by well over 15% annually over the coming years if the world wants to continue on…

Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, received the 51st (2023) Technology Award (Note1) from the Japan Society of Refrigerating and Air Conditioning Engineers (JSRAE) for its e-3D scroll compressor, a large-capacity, high-efficiency scroll compressor equipped with the e-3D scroll featuring a proprietary, advanced 3D compression structure. The award was presented in recognition of how the development of e-3D scroll provides a substantial improvement in efficiency while maintaining the same large capacity. The e-3D scroll compressor recognised with this award is a more advanced version of the 3D scroll compressor, the large-capacity 3D compression structure originally developed in 2005. The shape of the scroll has been changed from a stepped style used in the previous model to a smooth slope shape, further increasing the efficiency of the 3D compression structure. This change in shape significantly reduces the leakage of refrigerant…

Three MHI Group companies have concluded an agreement with Applus+ IDIADA (IDIADA), a Spain-based multinational company that performs engineering, testing and homologation for the automotive industry, on joint development of a testing and verification system for highly automated vehicles. IDIADA has an abundant track record in vehicle development, testing and homologation for automakers in Europe, and is contributing to the formulation of international standards in these areas. Today, development of automated driving systems is vigorously underway worldwide, and in the years ahead, dramatic capability improvements and increasing adoption of such systems are anticipated. To ensure their safe and secure operation, it must be verified that sensors and systems will function normally under the diverse natural environments that highly automated vehicles will encounter; moreover, needs are expected to increase in the coming years for testing under all possible weather conditions. In response, three MHI Group companies and IDIADA will jointly develop…

Mitsubishi Heavy Industries, Ltd. (MHI) will have an exhibit at the Japan Pavilion, an official event booth during the 26th UN Climate Change Conference (COP26)(Note1) taking place in Glasgow, United Kingdom. This event, held from Sunday, October 31 to Friday, November 12, will present Japan’s cutting-edge environmental technologies to the world. MHI will display models of its hydrogen gas turbine technologies for decarbonization of thermal power generation, and introduce its measures to establish a CO2 ecosystem, along with CO2 capture technologies. Hydrogen gas turbines are a cutting-edge, clean power generation technology that promotes the decarbonization of energy to achieve a hydrogen society, and contributes to the conservation of the global environment. Mitsubishi Power, a power solutions brand of MHI is drawing on its technologies for large frame gas turbines, which have demonstrated world-class efficiency and reliability, to develop hydrogen combustion technologies. Utilizing its extensive track record and experience, acquired over half a…

  With its product-led customer-focused strategy, MHIAE consistently brings best-in-class HP systems to the market. The company incorporates customer feedback into its solution development roadmap to maximize short-term growth opportunities while providing a path to future revenues. To this end, MHIAE leverages its extensive distribution networks (including MHI Group’s over 50 year-collaboration with Stulz GmbH Germany and MHIAE’s 2018 Joint Venture with Beijer Ref group in the UK) to gather insights into local customer needs. The company’s regional technical teams collaborate with the MHI Group’s research and development headquarters in Japan to utilize customer insights to inform and direct its ongoing product development efforts. As a result, MHIAE successfully delivers solutions customized to local preferences and specific customer needs. In addition, the company utilizes distributor networks to offer excellent after-sales service for its HP systems, ensuring optimal customer experience over the product’s lifetime.         Furthermore, MHIAE addresses…

Mitsubishi Heavy Industries Thermal Systems, Ltd. has started mass production of the ‘KXZ3 Series’ of building-use multi-split air-conditioners for its worldwide markets. The newly added lineup, which adopts the R32 refrigerant, is available in three models: 22.4, 28.0 and 33.5kW. By combining individual units, a maximum of 100.05kW can be achieved to accommodate a wide range of needs. The new series will be launched in the European market this summer, to be followed by successive launches in Australia, New Zealand and Turkey. The KXZ3 Series helps mitigate environmental impacts through the adoption of the R32 refrigerant having a Global Warming Potential (Note 1) of 675, which is roughly one-third the level of the R410A refrigerant (GWP 2090) used in earlier models. The new series also improves energy savings by nearly 18% in Seasonal Energy Efficiency Ratio (Note2), an indicator of an air-conditioner’s energy efficiency. Its efficiency enhancement is owed to…

In 2020, MHI Group identified five material issues in response to the growing need to address the global challenge of climate change. This included providing energy solutions to enable a carbon-neutral world to contribute to solving societal issues and ensuring continued medium and long-term growth. In the 2021 Medium-Term Business Plan, MHI Group specified Energy Transition as a growth area, aiming to achieve decarbonisation in the energy supply side, and Smart Infrastructure, supporting decarbonisation, energy efficiency, and labour savings in the energy demand side. By decarbonising both the generation and use of energy, MHI Group is contributing to achieving Net Zero carbon emissions by 2040 and realising a carbon-neutral world. In concluding this agreement, SuMi TRUST Bank conducted a Positive Impact Evaluation. The following themes were selected from the MHI Group’s materiality issues and other topics as activities that contribute to achieving the UN SDGs (Sustainable Development Goals). For this…

Mitsubishi Heavy Industries Thermal Systems, Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, will launch 31 new models of residential-use air-conditioners for the Japanese market in 2024. The new models in five series will be released starting April 1. The 2024 lineup comprises nine models in the Company’s top-of-the-line S Series, featuring outstanding energy efficiency, functions for comfort and cleanliness, and a high Annual Performance Factor (APF), four models in the SK Series with enhanced heating capacity for use in cold regions, six models in the high-performance R Series incorporating an automatic filter cleaning function, seven models in the standard T Series, and five models in the TWF Series of T Series models with smartphone control functionality included as standard. Together these new models provide comfortable living spaces for diverse lifestyles. Using Ions and Ozone to Provide Comfort and Cleanliness A Comfortable Environment Provided by Two Types of Sensors…

Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, is to add the “Hydrolution PRO” series of air-cooled heat pump chillers (1) to its product lineup for the European market. This series consists of three models with capacities of 50kW/75kW/100kW classes. These models are designed to suit various applications, ranging from space cooling/heating in residential and office buildings to cooling/heating needs in industrial and IT settings. The market launch will initiate with the 50kW-class model in spring 2024, followed by the introduction of other models. With the increasing environmental consciousness in Europe urging for reducing the amount and lowering Global Warming Potential (GWP) of refrigerant used in equipment with refrigerant (2). As one of the countermeasures, MHI Thermal Systems adds the air-cooled heat pump chiller which is the water circulation system to its product lineup. Adoption of the R32 refrigerant (675 GWP),…

Mitsubishi Heavy Industries, Ltd. (MHI) received an “A-minus” rating in the Climate Change Report 2023 published by CDP (headquartered in London, U.K.), a non-profit organisation that maintains a global environmental information disclosure system. This A-minus is the CDP’s second-highest rating and is one rank up from the B ranking MHI received in the previous year. CDP scoring and collected environmental data are publicly available on CDP’s platform and widely referenced by institutional investors and companies. MHI believes this improved rating will enable it to draw broad attention to its progress in addressing climate change in its business activities. Every year since 2002, CDP sends letters to companies on behalf of investors asking those companies to disclose data on their environmental impacts. In 2023, 746 financial institutions (with more than US$136 trillion in invested assets) requested responses to a CDP-prepared questionnaire, and more than 15,000 companies worldwide were asked to provide…

Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a Mitsubishi Heavy Industries (MHI) Group company, will launch two new models, the 10HP “HCCV1001C” and 20HP “HCCV2001MC” to its “C-puzzle” series of commercial-use refrigeration condensing units that use the natural refrigerant carbon dioxide (CO2). Both new models, which will be sold in the Japanese market this summer, accommodate MHI Thermal Systems’ proprietary new “M-DIOMAC” system (Note 1). The new units respond to the need to simplify engineering and installation. Models in the C-puzzle series first marketed in 2017 are equipped with MHI Thermal Systems’ proprietary two-stage compressor, a unique configuration of a scroll compressor and a rotary compressor (Note 2). The new M-DIOMAC system provides for a packaged oil management system, which is essential when building a refrigeration system. The packaging simplifies on-site adjustments of the refrigeration units, enabling simpler installation. M-DIOMAC consists of a dedicated system controller and remote…

Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, has added a new series, “Hydrolution EZY,” to its lineup of air-to-water (ATW) heat pumps for the European market. This new line includes two models with capacities of 10kW and 14kW, scheduled for release this winter. The Hydrolution EZY series, featuring monobloc design, reflects our commitment to sustainability and contributes to the ongoing development of a decarbonized society in Europe, aligning with our existing eco-friendly split-type units. The series use the eco-friendly R32 refrigerant, just like their split ATW counterparts. They are also quieter during operation and have a broader temperature range. Plus, the integrated water heat exchanger in the outdoor unit simplifies installation compared to the split-type systems, which requires both refrigerant piping and water piping. Innovative engineering has led to an improved anti-vibration technology achieved through material enhancements and other innovations.…

Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, has won the “The Energy Conservation Center, Japan Chairman’s Award” in the “Best Practice Category” at the 2023 Energy Conservation Grand Prize sponsored by the Energy Conservation Center, Japan (ECCJ), with support from the Ministry of Economy, Trade and Industry (METI). The award was presented for measures taken by MHI Thermal Systems to eliminate boiler usage in a company plant through conversion to industrial heat pumps. This is the second time MHI Thermal Systems has received an award in the ECCJ’s Best Practices Category (first in 2021). An awards presentation ceremony will take place at TOC Ariake Convention Hall in Tokyo on January 31, 2024. The award-winning measures taken by MHI Thermal Systems consisted of converting the heat sources used in the compressor plant at its Biwajima Works (Kiyosu, Aichi Prefecture) from steam…

Mitsubishi Heavy Industries Ltd. (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. 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, Australia creating demand opportunities for renewable hydrogen and renewable ammonia in the power generation, maritime, industrial and agricultural industries investigating 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…

The School of Engineering of the University of Tokyo, in collaboration with Kandenko Co., Ltd., Kyudenko Corporation, SHINRYO CORPORATION, Taikisha Ltd., Dai-Dan Co., Ltd., Takasago Thermal Engineering Co., Ltd., Tokyo Electric Power Company Holdings, Inc., Tonets Corporation, and Mitsubishi Heavy Industries Thermal Systems, Ltd., will jointly launch the “Smart Building System Research Initiative” on November 1, 2023. This research initiative aims to expedite the realization of green transformation (GX) by fostering collaborative research on Smart Building Systems, ultimately aiming for building services technology to contribute toward achieving GX, including carbon neutrality. Additionally, by promoting the advancement of academic fields and nurturing talent in smart building systems, we aim to enhance and deepen engineering capabilities in the field of building services. Annual energy consumption during the operational phase of buildings constitutes approximately 30-40% of total societal energy consumption, with a significant portion of energy usage in commercial buildings attributed to building…

･ Environment control and life support system (ECLSS) development for the international habitation module (I-HAB) to be used on the Artemis Program’s Gateway space station ･ Involved in the LUPEX rover development and supporting Toyota’s manned pressurised rover assessment ･ Assessing cargo transfer vehicle to Gateway space station Tokyo, September 14th, 2023 – Mitsubishi Heavy Industries, Ltd. (MHI) is advancing the development of mankind’s lunar exploration by participating in a series of domestic and international space programs. Through the contributions of these programs, which are based on our unparalleled heritage in space technologies, built over many years of space development, MHI will help launch a new era in lunar exploration and expand life in space half a century after the Apollo programs.   1. Environmental control and life support system (ECLSS) development for the international habitation module (I-HAB) to be used on the Gateway crewed space station As part of…

  ･ Adoption of plug-in hybrid system enables cargo room temperature to be maintained during parking and idling ･ Heat-pump system enables simultaneous heating and cooling operations; multi-system answers need for simultaneous transport of products requiring multiple temperatures Tokyo, September 13, 2023 – Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a part of Mitsubishi Heavy Industries (MHI) Group, has launched sales in the domestic market of the TEJ35GAM, an electric-driven transport refrigeration unit exclusively for small and mid-size trucks. Ryoju Coldchain Co., Ltd. (RCC), the Company’s’ comprehensive sales and service arm for truck and trailer refrigeration units in Japan, will be in charge of the new product’s sales. The TEJ35GAM joins the already available TE20/30 series, refrigeration units for plug-in hybrid transport, and the TEJ35AM, an electric-driven transport refrigeration unit with heat-pump heating system for EV trucks. The TE20/30 series has received two notable awards: the “Agency for…

･ MHI decided to issue the second series of transition bonds for 2 consecutive years to promote the company’s energy transition initiatives ･ MHI, as a leading company in the decarbonization field with an extensive track record and ongoing development of advanced technologies, is accelerating the promotion of projects that contribute to carbon neutrality of Japan and the world Tokyo, July 28, 2023 – Mitsubishi Heavy Industries, Ltd. (MHI) submitted a revised shelf registration statement to the Director-General of the Kanto Local Finance Bureau today in preparation for its planned issuance of transition bonds via public offering in the Japanese bond market. MHI was selected as a model example for the “2021 Climate Transition Finance Model Projects” being supported by the Ministry of Economy, Trade and Industry (METI) in March 2022, and issued its first transition bonds in September 2022. This will be our second issuance of transition bonds The…

Port of Newcastle and Mitsubishi Heavy Industries, Ltd. has unveiled, during a visit by Mr Chris Bowen, Minister for Climate Change and Energy, to the Port today, an MOU setting out a pathway towards the enablement of a world-class clean energy economy in the Hunter Region through the Port’s Clean Energy Precinct, which secured a $100-million Commonwealth funding grant in the 2022 Federal Budget. Port of Newcastle CEO Craig Carmody said the once in a generation project was the centrepiece of the Port’s future diversification strategy. “Our dedicated 220-hectare Clean Energy Precinct will offer the perfect platform for large scale clean energy production, which will be supported by common user, open access, shared infrastructure across clean energy storage, transport and export facilities servicing production from the Precinct itself and from right across the Hunter Region,” he said. Dr. Hitoshi Kaguchi, Senior Executive Vice President at MHI said: “We are delighted…

Japan announced the launch of a hydrogen supply chain with Australia as the two countries and Southeast Asian nations gathered for their first ministerial meeting on the reduction of carbon emissions in the fast-growing region. In a video message for the meeting on the Asia Zero Emission Community framework, an initiative proposed by Japan, Prime Minister Fumio Kishida said he would like to expand hydrogen supply chain networks throughout the region by cooperating further with Asian nations. “In Asia, we should hold as many energy options as possible, and hydrogen and ammonia are options,” he said, underscoring hydrogen could be a valuable source of energy in making clean energy transitions, especially in a region prone to natural disasters. In a joint statement issued after the one-day meeting in Tokyo, a total of 11 nations joining AZEC said they “recognize that accelerating the energy transition in the Asian region is key to achieve…

MHI Group Issues Declaration on Biodiversity — Declaration Identifies Initiatives for Conserving and Restoring Biodiversity and Natural Capital, to Realize a World that Lives in Harmony with Nature — Tokyo, April 21, 2023 – Mitsubishi Heavy Industries, Ltd. (MHI) has newly issued the “MHI Group’s Declaration on Biodiversity” defining initiatives to be undertaken by MHI Group to conserve and restore biodiversity(Note1) and natural capital(Note2) in a quest to realize the vision of a world that lives in harmony with nature. Today, rapid loss of biodiversity and natural capital is recognized internationally. The Kunming-Montreal Global Biodiversity Framework adopted at the 15th meeting of the Conference of the Parties to the UN Convention on Biological Diversity (COP-15) in December 2022 called for nature-positive initiatives to halt and reverse biodiversity loss to put nature on a path to recovery as its mission for 2030, and to achieve a world that lives in harmony…

MHI-AC&R Receives Excellence Award of JARAC’s 40th Excellent Energy Saving Equipment Awards — Award Presented for Energy Saving Reaped by Existing DBS Refrigeration Unit Through Use of Brine Inverter Centrifugal Chiller — ・ Adoption of ETI-ZE25 as heat source results in energy saving equivalent to approximately 43.8kL of crude oil and CO2 emissions reduction by some 79.8 tons ・ MHI-AC&R has received a third consecutive accolade, following JARAC Excellence Award in 2021 and ECCJ Highest Excellence Award in 2022 Tokyo, April 18, 2023 – Mitsubishi Heavy Industries Air-Conditioning and Refrigeration Corporation (MHI-AC&R), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI), has received an Excellence Award in the Refurbishment Equipment category of the 40th Excellent Energy Saving Equipment Awards of the Japan Association of Refrigeration and Air-Conditioning Contractors (JARAC) for its advancement of energy saving in existing DBS refrigeration units(Note1) through use of a high-efficiency brine inverter centrifugal chiller. High accolades…