Company Announcements

Direct-ocean-capture technology will contribute to nature-positive initiatives

TOKYO--(BUSINESS WIRE)--Oct. 8, 2024-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it signed a memorandum of understanding (MOU) yesterday with VTT Technical Research Centre of Finland Ltd., headquartered in Espoo, Finland and headed by CEO Antti Vasara, to collaborate on the development of key nature-positive technologies, which are initially expected to include direct ocean capture (DOC) technology for the direct removal of CO₂ from seawater.

Together with VTT, the largest comprehensive research institute in Northern Europe, Mitsubishi Electric aims to develop DOC, one of carbon dioxide removal (CDR) technologies to remove CO₂ from oceans, which will help eliminate ocean acidification and thus contribute to carbon neutrality and other nature-positive outcomes. Ocean acidification, which refers to the ongoing decrease in ocean pH due to the absorption of CO₂ from the atmosphere, is causing seawater to become more acidic, threatening marine ecosystems and significantly impacting economic activities such as fishing industry.

Mitsubishi Electric has made sustainability a cornerstone of its business. The company is promoting comprehensive strategic initiatives beyond the boundaries of its existing businesses and organizations, with the aim of creating and strengthening synergistic businesses to grow the company while enriching society and the environment. The company has set a goal of zero emissions of greenhouse gases throughout its value chain by the fiscal year ending March 31, 2051, based on which it is pursuing technological innovation to reduce CO₂ emissions. To help minimize global climate change, Mitsubishi Electric now aims to actively remove and capture CO₂ through its development of CDR technology.

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Source: Mitsubishi Electric Corporation