Kawasaki Heavy Industries to phase out nuclear: corporate

November 26, 2020

Japanese company Kawasaki Heavy Industries (KHI) has signed a memorandum of understanding with nuclear maintenance service provider Atox Company Limited regarding the transfer of its nuclear business to Atox for an undisclosed amount. KHI said it would focus on developing hydrogen technology instead.

KHI started its activity in the nuclear energy field in 1969. It has since been involved in commercial nuclear power plants, decommissioning / waste disposal and new nuclear construction projects in Japan.

“We have a large number of development and delivery records,” the company said. “However, in light of the recent changes in the energy market environment, the nuclear business will be transferred to Atox. In the future, on the basis of this agreement, we will hold sincere discussions with a view to entering into a business transfer agreement. “

The transfer excludes projects for which KHI received orders before the transaction closes, which is expected to be completed on April 1 of next year. The company will provide technical support to Atox until March 31, 2023.

KHI said it will focus on energy and environmental solutions as outlined in the The Group’s Vision 2030 business plan. “We will promote hydrogen energy related businesses,” he said.

The company predicts that the hydrogen market will be worth around $ 2.5 trillion in 2050. It has “already received numerous inquiries about projects from governments, private organizations, energy companies and transportation companies in the area. many countries of the world ”, KHI. President and CEO Yasuhiko Hashimoto said Nov. 2 during a presentation on the company’s business plan.

Research and writing by World Nuclear News

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