Japan companies to launch $1bn fund for hydrogen supply chains

TOKYO -- A coalition of more than 400 Japanese companies and organizations plans to set up a $1 billion fund as early as the fiscal half ending September to bolster hydrogen supply chains, with an eye on Japan's economic security, Nikkei has learned.

The Japan Hydrogen Association -- which counts Iwatani, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group among its members -- is looking to invest in the production, storage and safe transport of hydrogen through the fund. The fund will be operated mainly by Tokyo-based private equity firm Advantage Partners.