23 May 2024

• DGA Energy Solutions Australia Pty Limited (DGA), which is 100% subsidiary of Mitsubishi Corporation (MC), and ZEN Energy (ZEN) have executed a Memorandum of Understanding (MoU) to support DGA’s green hydrogen strategy and MC’s decarbonisation aspirations.
• The MoU marks the extension of a partnership between DGA and ZEN to jointly deliver renewable electricity and renewable hydrogen into new sustainable value chains. The partnership leverages the strengths of ZEN in procuring, trading, and marketing 100% renewable electricity, DGA in the design and delivery of hydrogen plants and MC in trading and investment activities across a wide range of industrial value chains.
• DGA Energy Solutions Australia Pty Ltd was founded in 2023 as a wholly owned subsidiary of MC. DGA is responsible for the development of, and investment in, MC’s renewable energy, green hydrogen, and green ammonia projects in the Oceania region.
• ZEN Energy is the first Australian energy company committed to limiting global warming to within 1.5 degrees of pre-industrial temperatures. ZEN supplies renewable electricity to a portfolio of government and business customers across Australia, sourced from a generation portfolio comprising solar, battery storage and pumped hydro projects across Australia.

Quotes attributable to Kentaro Matsumura, Managing Director of DGA Energy Solutions Australia:

“DGA Australia aims to be a leading supplier of green hydrogen in the Oceania region, starting first with local production to meet the needs of businesses in Australia and moving to the export of hydrogen-based products from Australia to Asia.”.

“Partnering with ZEN, an early mover in the energy transition who already supplies a group of platinum customers from a scalable renewable generation platform, will enable us to move closer to our goals.”

Quotes attributable to Anthony Garnaut, CEO of ZEN Energy:

“This partnership will accelerate Australia’s journey to becoming a renewable energy superpower.”

“Australia is now the leading supplier of energy and minerals to Japan. If we are to retain this position in 2050, we need to create new, sustainable ways of producing versions of the products we currently sell to Japan.”

“We cannot do this alone. It requires partnerships with organisations like DGA and MC, who share our vision, and are willing to invest the needed effort and leverage their networks to help create new value chains.”

“DGA will join with other key partners who are committed to realising the superpower opportunity, including select state and local governments, energy infrastructure owners, and providers of the industrial services needed to build new value chains.”

ZEN Office of ZEN CEO contact: Joey Yeo, 0478 664 687, joey.yeo@zenenergy.com.au

DGA Contact: Tomohiro Sano, 048 4349 886, tomohiro.sano@dga-aus.com