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Provides significant energy density benefits from cutting-edge technology, lightweight design and vehicle chassis integration Has fast charging, flexible system deployment and is applicable in all weather conditions SINGAPORE, May 17, 2023 /PRNewswire/ -- Singaporean Lithium-ion battery manufacturer, Durapower Holdings Pte Ltd ("Durapower") wishes to announce the launch of the new DP Flex battery module at the Future Mobility Asia 2023 event exhibition at Queen Sirikit National Convention Center in Bangkok, Thailand, from 17 May 2023 to 19 May 2023. DP Flex Battery Module, Image: Durapower Group The DP Flex is a relatively compact battery module with advanced, proprietary lithium battery technology which provides significant energy density advantages due to its light weight of 63 kilograms and integration with an electric vehicle chassis. The DP Flex is the first of its kind by Durapower and provides several benefits such as: Cutting-edge technology maximises energy density and efficiency Lightweight design with no compromise on structural integrity Able to use the electric vehicle chassis as the battery pack enclosure[1], resulting in potential significant energy density benefits from the overall lighter weight Fast pantographic charging design allows vehicles to travel longer ranges with minimum battery load Flexible system design to meet various heavy-dutyapplication needs and/or load cycles Applicable in all weather conditions and seasons Second-life deployment capability reduces total cost of ownership Has attained UN ECE R100 (United Nations Economic Commission for Europe Regulation No.100), UN38.3 (United Nations 38.3), International Electrotechnical Commission 62660-2, and International Electrotechnical Commission 62619 certifications The flexible, modular design of the DP Flex enables it to be easily adapted for various applications, including using electric vehicle chassis as the battery pack enclosure, or installation into cabinets or containers for stationary energy storage system applications. DP Flex adds to Durapower's existing product portfolio of battery solutions, and translates into compatibility with a wide range of commercial vehicles. Mr Kelvin Lim, Chief Executive Officer of Durapower Group commented, "We are pleased to showcase our lightweight next generation commercial electric vehicle battery module that is also flexible enough to be conveniently installed for stationary battery energy storage system applications and second-life deployment. The high energy density DP Flex also highlights Durapower's technical capability and innovation to push the boundaries of the energy storage industry to offer more efficient clean energy solutions to the world." The DP Flex specification sheet and product video is available at https://durapowergroup.com/wp-content/uploads/2023/05/durapower-dp-flex-2023.pdf and https://durapowergroup.com/dp-flex/. About Future Mobility Asia Spanning 15,000 square metres of mobility enabling innovators, Future Mobility Asia (https://www.future-mobility.asia/) is a comprehensive showcase of all future clean mobility concepts, solutions, technologies and innovations. Organised under the patronage of the Ministry of Energy Thailand, the exhibition and summit is the central meeting point for OEMs, mobility innovators, after-market suppliers and technology solution providers to meet, network and drive forward the mobility transition and transformation in Asia. Electric and autonomous vehicle demonstrations will take place to bring about accelerated commercial adoption launches for autonomous, passenger and commercial vehicles and announcements of new technologies, products and innovations. There is also a robust line-up of engaging activities ranging from on-floor lighthouse projects, case studies and start-up showcases, start-up venture capitalist pitching, to hackathons. The global electric mobility market size is set to surpass US $718 billion by 2030[2], highlighting the enormous potential in this sector. About Durapower Group (www.durapowergroup.com) Headquartered in Singapore, Durapower offers closed-loop, end-to-end energy storage solutions for the electric mobility and renewable energy applications including on and off-road Electric, Hybrid and Plug-in Hybrid Electric Vehicles, electric marine vessel and stationary energy storage solutions. Since 2009, Durapower has been a leading innovator of Lithium-Ion cell technology, focusing on the research and development of battery materials, battery cell manufacturing and system integration. With a global presence spanning 24 countries and 49 cities, including European Countries, China, India and Southeast Asia. Durapower Group strives to make scalable, sustainable batteries that support the circular economy, empowering lives and transforming the future towards a carbon neutral economy. [1] Installation in electric vehicles requires close collaboration with Original Equipment Manufacturer (OEM) to ensure proper module protection.[2] https://www.future-mobility.asia/
STAMFORD, CT, May 17, 2023 /PRNewswire/ -- Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) (NYSE: SOL), a leading global solar project developer, owner, and operator, today announced that it will restate its previously issued unaudited consolidated financial statements for the three months ended September 30, 2022 that was issued in a press release on December 1, 2022 and included in the Company's Form 6-K that was filed on December 7, 2022 and the three and twelve months ended December 31, 2022 that was issued in a press release on March 28, 2023 and included in the Company's Form 6-K that was filed on March 30, 2023. The restatements of these financial statements are primarily due to timing of accounting recognition related to three transactions recorded in 2022 as a result of applying a more conservative assessment of when "change of control" occurred. These transactions pertain to: 50 MWp solar farm acquisition in Branston, U.K. where the consolidation date was determined to be September 30, 2022, rather than April 1, 2022 as set forth in the previously issued unaudited financial statements for the three month ended September 30, 2022. Such change will reduce previous reported revenue by $5.0 million, operating income by $3.7 million and the purchase price of the project by $4.5 million. The $4.5 million purchase price reduction represents the net operational results from the project for the period from April 1, 2022 to September 30, 2022, partially offset the increase deferred tax liabilities due to fair value adjustment of Project Branston upon acquisition. Poland and Germany NTP project sales that were recognized in Q4 2022 is now expected to be recognized in the first half of 2023. This will reduce previous reported revenue for the three and twelve months ended December 31, 2022 by $14.7 million and operating income by $5.4 million. In addition, the Company also recorded a bad debt provision of $0.7 million relating to one of its NTP projects in Maine due to issues at the local utility. This will reduce previous reported net income for the three and twelve months ended December 31, 2022 by $0.7. The restatement of these transactions will result in a total reduction of previously reported revenue and net income for the full year 2022 by approximately $20 million and $10 million, respectively, as well as related changes to the balance sheet and statement of cash flows. The two NTP project sales in Europe that were previously recorded in Q4 2022 are now expected to be recorded in the Company's first half 2023 results. The Company now expects 2023 full year revenue and net income to be in the range of $154 million to $174 million and $22 to $26 million, respectively. As of December 31, 2022, the Company's net book value was approximately $5.80 per ADS. "We aim to conduct our operations with transparency and integrity," stated Yumin Liu, the Company's Chief Executive Officer. "The nature of our business in the solar industry creates unique and complex transactions. However, we are working diligently with our auditor to resolve this issue. Most importantly, there is no expected impact on our cash position, business operations or long-term economics of our commercial projects. Our priority remains on executing our strategies and continuing to expand our solar development and IPP business towards our goal of becoming a top global solar company." The Company plans to file its Form 20-F for the year ended December 31, 2022, after market close on May 16, 2023. As a result of the restatement, the Company's previously issued unaudited consolidated financial statements for three months ended September 30, 2022 that was filed in its Form 6-K filed with SEC on December 7, 2022, and the three and twelve months ended December 31, 2022 that was filed in its Form 6-K filed with the SEC on March 30, 2023 should no longer be relied upon. The Company plans to continue to execute on the previously announced share buyback program, with $17 million of current availability under such program. About Emeren Group Ltd Emeren Group Ltd (NYSE: SOL) is a leading global solar project developer, owner, and operator with a ~3 GW pipeline of projects and IPP assets across Europe, North America, and Asia. The Company focuses on solar power project development, construction management and project financing services with local professional teams across multiple countries. For more information, go to www.emeren.com. Safe Harbor Statement: This press release contains statements that constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it "believes," "plans," "expects" or "anticipates" will occur, what "will" or "could" happen, and other similar statements), you must remember that the Company's expectations may not be correct, even though it believes that they are reasonable. Furthermore, the forward-looking statements are mainly related to the Company's continuing operations and you may not be able to compare such information with the Company's past performance or results. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company's situation may change in the future. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
The UDC is the world's first of its kind for commercial use SINGAPORE, May 16, 2023 /PRNewswire/ -- Atlas Technology (Atlas), a leading Web3 infrastructure service provider, is excited to announce its strategic partnership with Shenzhen Hicloud Data Center Technology (Hicloud), a high-tech company that specializes in the R&D, manufacturing, and operation of underwater data centers. Together, the two companies will explore new solutions to reduce the energy consumption of data centers and push the boundaries of technological advancement. Through this partnership, Atlas has become the first commercial Web3 user of the Underwater Data Center (UDC) project. Data centers are crucial components of a country's digital infrastructure, providing a competitive edge in the pursuit of data sovereignty. Atlas and Hicloud's UDC project is the world's first of its kind for commercial use which has shown significant advantages over regular inland data centers: Higher level of data security The sealed cabins are oxygen and dust free. They can provide constant temperatures, humidity, and pressure conditions for the servers inside, thereby guaranteeing physical data security. Test data proves that the server failure rate is 1/8 of inland data centers. Clean and environmentally friendly UDC converts ocean energy such as ocean waves, tides, and wind into marine computing power. Thus, it helps realize low-carbon, and potentially even zero-carbon development for the once high-energy-consuming data centers. Faster project deployment The ultra-short 90-day cabin deployment and construction of a UDC provide a modular way to scale up data center needs while keeping energy and operating costs reasonably low. Low operational cost Operating UDCs do not need to pay the cost of renting commercial land, hiring local employees, or taxes, which reduces operating costs. Low network latency With more than half of the world's population currently living within 193 kilometers of the coast, the primary reason for deploying data centers near coastal cities is to reduce the distance between UDCs and users and to lower network latency. "At Atlas, we're committed to driving sustainable growth, and we believe that sustainable energy is key to our success," said Raymond Yuan, founder and Chairman of Atlas. "Partnering with Hicloud on the UDC project is an important step in supporting a more innovative and sustainable Web3 economy." Mr. Shen Wanqiu, The Founder of Hicloud said, "Joining forces with Atlas Technology is a critical move for Hicloud. The UDC project will leverage our expertise in marine electronics. With the cooperation of Atlas, we hope to explore and develop new technologies to enhance the efficiency of data centers for the Web3 industry." About ATLAS Headquartered in Singapore, Atlas is a global blockchain infrastructure-as-a-service group that drives the evolution of Web3 - the next phase of the internet. The company offers a broad range of value-added services including distributed high-performance computing, node infrastructure, networking, hardware, API support, and storage for the Web3 ecosystem. Atlas is committed to being a global leading next-generation Web3 infrastructure provider that advocates sustainable growth, green energy adoption, power usage efficiency and stability to drive Web3 evolution. Atlas plans to globally expand its UDC business in Asia, North America, and Europe, focusing on service scenarios such as Blockchain infrastructure, high-performance computing, and AI computing. Website | Twitter | Linkedin About Shenzhen Hicloud Data Center Technology Shenzhen Hicloud Data Center Technology Co., Ltd (Hicloud) is a high-tech start-up that specializes in the R&D, manufacturing, and operation of underwater data centers. As the first underwater data center services provider in China, we excel at Undersea Data Center and IT services thanks to excellent industrial integration capabilities. An Undersea Data Center (UDC) consists of a shore station, sea cables, as well as water-cooled subsea components including substations and data modules. Our system features excellent PUE (PUE <1.15), efficient modular construction (24 rakes per module), maintenance-free, and rapid deployment times (within 90 days). Deploying data centers undersea also increases equipment reliability while minimizing land footprint.
Manufacturing leaders, technology experts, innovators and policy makers gather at India Inc on The Move MUMBAI, India, May 16, 2023 /PRNewswire/ -- Rockwell Automation, Inc. (NYSE: ROK), the world's largest company dedicated to industrial automation and digital transformation, concluded the fourth edition of its India Inc On The Move (IIOTM) event in Mumbai. The event brought together senior leaders from the manufacturing industry, technology experts, and innovators, along with policymakers to discuss, debate and learn how best to put India on track for a sustainable manufacturing future. More than 1,200 people attended the event. Key conversations at this year's event covered smart manufacturing, India's potential as a center of green manufacturing and learnings from World Economic Forum 'Lighthouse' sites. There was also a showcase of many of the latest smart manufacturing technology innovations from Rockwell Automation and its partners. Among the guest speakers was Shri Nitin Gadkari, Union Minister, Road Transport and Highways, who outlined: "Sustainable and climate neutral development is crucial for India to achieve the goal of carbon net zero by 2070. Therefore, it is essential to shift towards sustainable manufacturing practices, which involve designing and manufacturing products using eco-friendly materials, minimizing waste, and reducing energy consumption." Dilip Sawhney, managing director, Rockwell Automation India, said: "The manufacturing world is beginning to understand that sustainability is not just the right thing to do but also the smart thing to do. The prevailing thought process is rapidly transforming from one where sustainability was viewed as being in competition with profitability to one where it's now being seen as a promising new driver for improved productivity and profitability." At the event, Rockwell Automation showcased two new hardware and software products "born in India". Developed and manufactured in India, the Armor Block 5000 I/O blocks are designed to work in extreme environments and will simplify smart manufacturing, while the FactoryTalk® CPGSuite, a Manufacturing Execution System (MES) designed specifically for the Consumer Packaged Goods industry, was developed in Bangalore for a global market. For the past four decades, Rockwell Automation has been an active participant in India's industrial future. Today, the company is at the forefront of enterprise digitization and plays an essential role in evangelising the creation of smart manufacturing ecosystems. Rockwell Automation is committed to the success of India; nearly one-third of the company's global software and control production operations management workforce is based in India, and the company focuses on global R&D capacity and smart manufacturing software development to assist both local and global customers on their digital transformation journeys. About Rockwell Automation Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 28,000 problem solvers dedicated to our customers in more than 100 countries. To learn more about how we are bringing the Connected Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
- Will expand sales portion in battery materials, sustainability business and innovative new drugs - Aims to accelerate in reaching net zero by 2050 by proactively building an integrated low-carbon management system SEOUL, South Korea, May 16, 2023 /PRNewswire/ -- LG Chem today announced its business strategy to leap up to become a top global battery materials company and its plans for its three new growth engines by 2030. LG Chem CEO Shin Hak-cheol said in a keynote speech at the BofA 2023 Korea & Global EV/EV Battery conference held at the Grand Hyatt Seoul on May 16, that LG Chem aims to grow its battery materials sales sixfold to KRW 30 trillion (USD 25.5 billion) by 2030, from KRW 4.7 trillion (USD 3.9 billion) in 2022. In detail, LG Chem's sales from the three sectors which the company is counting on to power its growth – battery materials, sustainability business and innovative new drugs – is expected to make up 57% of the company's total sales (by reaching KRW 40 trillion, or USD 30 billion) in 2030. The three areas accounted for 21% (with KRW 6.6 trillion, or USD 4.9 billion) of the company's sales in 2022. This will mark a turning point in LG Chem's business as it aims to become a "top global science company", shifting from a petrochemical-centric portfolio. "Despite under an emergency management amidst the never-before pandemic and geoeconomic conflicts, LG Chem has been proactively fostering new growth powers based on global megatrends and strategies on sustainability," said Mr. Shin from LG Chem. "You will be able to see and feel LG Chem's axis moving towards the next big three engines: battery materials, sustainability businesses and innovative new drugs." Breaking Through the Global Industry Transformation Era with Battery Materials, Sustainability Business and Innovative New Drugs 1. Battery materials: stepping up to a global leader with KRW 30 trillion (USD 25.5 billion) in sales by 2030 LG Chem plans to leap forward as the world's leading battery materials provider with KRW 30 trillion (USD 25.5 billion) in sales by 2030, backed by a compound annual growth rate of 26%. That said, LG Chem plans to cultivate its business in additional battery materials such as separators and carbon nanotubes (CNTs), in addition to the already-prominent cathode materials. LG Chem will also actively promote R&D efforts in new materials including pure silicon anode materials and solid-state battery electrolytes. 1A. Taking the lead in the cathode material sector: market, technology and metal sourcing In particular, LG Chem is set to secure its global leadership in high-nickel cathodes around three key areas – market, technology and metal sourcing. LG Chem plans to strengthen its market leadership by establishing a global quadrilateral production system, connecting Korea, China, U.S. and Europe, to make cathodes. This will help LG Chem expand its production capacity from 120,000 metric tons in 2023 to 470,000 metric tons by 2028. 40% of LG Chem's clients will be new global companies besides its subsidiary LG Energy Solutions. LG Chem will also tighten its technology leadership by expanding its high-nickel cathode product lineup for pouch-type and cylindrical batteries, mass-producing ultra-high-nickel cathodes with nickel content of 95% and extending the application of single crystal cathode materials technology in the sector. LG Chem is also actively considering expanding its offerings with cost-efficient cathode materials including high-voltage mid-nickel (Mid-Ni), lithium iron phosphate (LFP) and manganese-rich (Mn-Rich) to meet customer needs and target the growing mass market for electric vehicles (EVs). Furthermore, LG Chem is cementing its global partnerships to secure its metal supply chain. In China, North America, Australia and Korea, LG Chem is carrying out various initiatives such as establishing joint ventures (JVs) for precursors, signing lithium contracts, and making equity investments with major players including Huayou Cobalt, Piedmont Lithium and Korea Energy Materials Company (KEMCO). 1B. Expanding additional battery materials business including separators In the separator market, LG Chem plans to grow its footprint in the U.S. and European markets. To that end, LG Chem will join forces with Toray to weave its exclusive, world-class coating technology and the unique fabric technology of the Japanese materials company. LG Chem forecasts more business opportunities as separators are classified as battery components as per the U.S. Inflation Reduction Act (IRA). LG Chem also projects to pushfully expand its business in additional battery materials such as CNTs, anode binders and cathode dispersants by seeking opportunities for partnerships based on LG Chem's technological advantages. LG Chem's CNTs, for instance, has top-notch quality as it uses cobalt-based catalysts made with LG Chem's proprietary technology which helps lowering the content of magnetic impurities that can affect battery quality. In addition, LG Chem will actively explore growth opportunities based on innovative materials technologies such as pure-silicone (Pure-Si) anode materials, electrolytes for solid-state batteries and flame-resistant battery materials like aerogels. 2. Strengthening Sustainability Business LG Chem aims to take the lead in the industry's low-carbon business by accelerating the transition of its business structure around recycled, bio/biodegradable and renewable energy materials. Moreover, LG Chem targets to boost sales in this sector to KRW 8 trillion (USD 6.8 billion) by 2030 from KRW 1.9 trillion (USD 1.6 billion) in 2022. Based on its mechanical and chemical recycling technology capabilities, LG Chem is securing a diverse product portfolio to target the recycled plastics market, which is expected to reach KRW 100 trillion (USD 84 billion) by 2028. LG Chem is leading the mechanical recycling field. For instance, LG Chem has successfully commercialized the world's first white post-consumer recycled acrylonitrile butadiene styrene (PCR ABS), overcoming the disadvantage of fading colors. LG Chem is also building a strong portfolio with various products including polycarbonates (PCs), polyethylenes (PEs), polypropylenes (PPs) and polyvinyl chlorides (PVCs) and targeting consumer markets by supplying materials to companies that make products such as eco-friendly remote controls and set-top boxes. Chemical recycling is also an area which LG Chem is focusing on. Chemical recycling technology is, in fact, expected to be more marketable as it does not change the physical properties of the virgin material and has no limit on the number of times it can be recycled. In March, LG Chem started the construction of its first pyrolysis oil plant in Dangjin, Korea, which will be the nation's first plant using supercritical water technology and have an annual production capacity of 20,000 metric tons. In addition, LG Chem will complete building its demonstration plant for PC chemical recycling in 2026 based on its proprietary technology to secure leadership in the chemical recycling field. The bio/biodegradable materials market is expected to grow at an annual rate of more than 20%. This can be said based on the spreading global regulations on non-biodegradable single-use plastics and increasing customer demand for biodegradable materials. Starting from the first quarter of next year, LG Chem will be mass-producing polybutylene adipate terephthalates (PBATs) – a biodegradable material which quickly decomposes in nature by reacting to oxygen and heat. To tap the market for poly lactic acids (PLAs), LG Chem is also giving shape to its collaboration with Archer-Daniels-Midland (ADM), U.S.-based multinational leader in global nutrition. 3. Innovative new drugs: becoming a pharmaceutical company with five new FDA-approved drugs and sales of KRW 2 trillion (USD 1.65 billion) by 2030 LG Chem is rolling up its sleeves to become a global innovative pharmaceutical company with five new FDA-approved drugs and sales of KRW 2 trillion (USD 1.65 billion). To that end, LG Chem will continue commercializing new drugs by concentrating on oncology and metabolic therapeutics. In particular, the company has acquired AVEO, a U.S. company with an FDA-approved new drug FOTIVDA, to strengthen its business competitiveness in the U.S., the world's largest anti-cancer market. Moreover, the company is considering escalating the development of new oncology drugs and introducing promising new drug substances. Accelerating to Reach Net-zero by 2050 by Proactively Establishing Low-Carbon Management LG Chem aims to strengthen its global leadership in decarbonization and continue its sustainable growth. LG Chem is Korea's industry-first company to establish an integrated carbon management system that enables real-time support when making financial decisions such as reviewing profits/losses and evaluating investment priorities. With this system, LG Chem can calculate the amount of carbon the company will emit based on not just primary data such as production volume and energy sources, but more overall business plans including new/expanded facilities, investment, and production plans. Furthermore, LG Chem will establish a collaborative decarbonization model for its suppliers and proactively manage direct/indirect emissions (Scope 1 and 2) and all other indirect emissions (Scope 3). Since declaring its commitment towards carbon-neutral growth in 2019 for the first time in Korea's chemical business, LG Chem has been a leader in the sustainability sector through various initiatives such as announcing to switch to 100% renewable energy by 2050, raising the bar for net-zero achievement, conducting environmental lifecycle assessments (LCAs) for all products, and implementing internal carbon pricing systems. In addition, LG Chem is accelerating to include bio-based, recycled, and renewable energy materials to its business portfolio and become more low-carbon-focused. LG Chem has been steadily implementing strategies based on sustainability, such as establishing a closed-loop system for battery waste and promoting zero waste in landfill at all of its sites. "We have been making grinding efforts to revolutionize our overall business management system – we have reformed our business portfolio, established business processes based on digital transformation (DX), and reinforced operational capabilities of our offices in four major global regions," said Mr. Shin. "We will mature our groundwork for sustainable growth and speed up our grand transition into a global science company with three core businesses: battery materials, sustainability business, and innovative new drugs." About LG Chem LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated consolidated revenue of KRW 51.9 trillion (USD 42.1 billion) in 2022. For more information, please visit www.lgchem.com. For media enquiries, please contact:Son Junillgchempr@lgchem.com Liz Choilgchempr@webershandwick.com
TOKYO, May 16, 2023 /PRNewswire/ -- Aiming to unite the wind value chain to advance offshore wind in Japan, the 5th Japan Wind Energy event will take place on October 17-18, 2023 at Bellesalle Shibuya Garden in Tokyo. Organised by Leader Associates, this leading and most influential wind energy event is expected to attract over 2,000 stakeholders including government representatives, investors, developers, financiers and equipment providers. Japan – Huge Potential of Offshore Wind The Japanese Cabinet approved the 4th Basic Plan on Ocean Policy on April 28th, 2023, following the 20th meeting of the Headquarters for Ocean Policy led by Prime Minister Fumio Kishida. The plan prioritizes comprehensive maritime security and sustainability, aiming to expand offshore wind project installation including introducing domestic legislation to allow offshore wind power generation facilities to be built in the EEZ(s) and additional designation of Offshore Wind Hub Ports under the new Basic Ocean Policy. The Ministry of Land, Infrastructure, Transport, and Tourism (MLIT) has announced that the Port of Niigata is now the fifth Offshore Wind Hub Port. While the country's regulatory framework and high electricity prices pose significant obstacles, Japan's offshore wind potential and commitment to renewable energy provide a strong foundation for the industry's growth. Uniting Global Wind Value Chain at JWE 2023 The Strategic Summit will focus on offshore wind in Japan, with a range of topics to be covered including future prospects in the Japanese offshore wind market, financing and investment opportunities, and the latest technologies and innovations. Esteemed speakers from leading companies in the industry, as well as representatives from local and international governments and academic institutions, will be sharing their insights and expertise. Attendees at JWE2023 will have access to participate in the Offshore WindTech Summit, where industry leaders will share insights into the latest technology and innovations driving the sector forward. JWE2023 Exhibition will showcase the latest solutions in offshore wind to senior executives and department heads from around the world, offering a unique opportunity to discover cutting-edge technologies and network with industry leaders. Participants will also have access to various networking opportunities throughout the event, providing a chance to engage with other key players in the industry. Japan Wind Energy 2023 is set to be an informative and engaging event for anyone involved or interested in the offshore wind industry. For more information about the event, visit the website at www.japanwindenergy.com.
Green Technology
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