ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU"), announced today that, together with Nihon Shipyard Co., Ltd. (hereinafter "Nihon Shipyard"), MAN Energy Solutions (hereinafter "MAN"), Mitsui E&S Co., Ltd. (hereinafter "Mitsui E&S"), Kawasaki Kisen Kaisha, Ltd. (hereinafter ""K" Line"), and NS United Kaiun Kaisha, Ltd. (hereinafter "NS United") has executed a Memorandum of Understanding (hereinafter "MOU") regarding joint development effort for the commercialization of ammonia fueled ships.

Ammonia is advancing as a key zero-emission marine fuel solution and it will greatly contribute to Greenhouse Gas (GHG) emissions reduction if ammonia can be commonly used as a marine fuel. The development and commercialization of ammonia dual fueled engine on which ammonia fuel is used for a primary fuel (Ammonia Fueled Engine) is essential for widespread use of ammonia fueled ship ("Ammonia-Fueled Ship"). In Particular, the ensuring of safety in the handling of toxic ammonia and the confirming of stable operations at sea are important milestones on the road to the social implementation.

This MOU is based on the premise that 200,000 deadweight ton class bulk carriers to be built by Nihon Shipyard will be equipped with Ammonia Fueled Engines being developed by MAN as a "pilot project" prior to commercialization, and that the necessary operational data will be collected after the delivery of the ships, for the commercialization of Ammonia Fueled Engines and Ammonia-Fueled Ships in cooperation with other parties involved.

The execution of this MOU is an important milestone for the implementation of Ammonia-Fueled Ships, a new challenge being taken on by the maritime industry, and also an important step in the ongoing implementation of the "Integrated Project" being facilitated by ITOCHU.
ITOCHU and partners will proceed with the development of the Ammonia Fueled Engines and Ships based on this MOU, and aims to begin its social implementation once it is ready in accordance with the "Integrated project for development and social implementation of ammonia fueled ships" which was adopted to the "Green Innovation Fund Project / Development Project for Next-Generation Ships / Development of Ammonia Fueled Ship", a project publicly offered by New Energy and Industrial Technology Development Organization (NEDO) in October 2021^＊.

Following the growth strategies formulated for the realization of a decarbonized society, ITOCHU has been continuously implementing measures to achieve its related goals. ITOCHU will accelerate the development of sustainable energy systems through these initiatives, and will continue to contribute to the realization of a decarbonized society and sustainable local communities, and to the reduction of the burden on the global environment.