Japan earmarks $107 billion for developing hydrogen energy

The Suiso Frontier, a liquefied hydrogen carrier, is berthed in Otaru, northern Japan. Japan's government has adopted a revision to the country's plans to use more hydrogen as fuel.

TOKYO — Japan's government today adopted a revision to the country's plans to use more hydrogen as fuel as part of the effort to reduce carbon emissions.

The plan sets an ambitious target to increase the annual supply by six times from the current level to 12 million tons by 2040. It also pledges 15 trillion yen ($107 billion) in funding from both private and public sources to build up hydrogen-related supply chains over the next 15 years.

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