Announcement of Capital and Business Alliance with Kowa
SPACE WALKER, Inc. (Headquarters: Chiyoda-ku, Tokyo; CEO: Akihide Manabe; hereinafter referred to as “SPACE WALKER”) announced on March 25th, 2024, that it has entered into a capital and business alliance agreement with Kowa Company, Ltd. (hereinafter referred to as “Kowa”), a corporation active in both trading and manufacturing functions across various business fields. The purpose of this agreement is to explore the establishment of a joint venture company to lead the hydrogen society with mass production of next-generation composite high-pressure gas tanks.
SPACE WALKER is a university startup conducting research and development of winged reusable suborbital and orbital spaceplanes. The company also develops key components and other related businesses; such as next-generation composite tanks―applying space technology to accelerate industry decarbonization on Earth.
SPACE WALKER envisions sustainable space transportation for all, as familiar as commercial air travel today.
【Background】
In 2017, Japan formulated the world’s first national hydrogen strategy, the “Basic Hydrogen Strategy.”, a significant step which led to 25 more countries and regions developing hydrogen strategies by 2022. In 2020, the Japanese government announced a “Carbon Neutral Declaration” as a crucial initiative for the future. This was followed by the Sixth Basic Energy Plan, where hydrogen and ammonia were notably positioned not only as new energy sources for the future but also as crucial contributors to electricity supply, underscoring the need for further technological innovation to realize a hydrogen society. Soon after, significant changes were observed in the global energy demand structure following the Russia-Ukraine conflict in 2022. In response, India, as the world’s third-largest energy-consuming country, and Japan jointly announced the “Japan-India Clean Energy Partnership (CEP)” to ensure energy security and achieve carbon neutrality and economic growth.
Thus, the Japanese government has been actively engaging in energy innovation centered on hydrogen both in the domestic and international stages, steadily building the foundation for a sustainable society in the future.
※ In the “Basic Hydrogen Strategy,” the term “hydrogen” includes not only hydrogen but also ammonia and synthetic methane/fuels used as fuels or raw materials, such as carbon recycled products. This release reflects that interpretation.
【Purpose of the Alliance】
Under the terms of agreement, SPACE WALKER and Kowa will aim to significantly reduce hydrogen energy transportation costs using SPACE WALKER’s next-generation composite high-pressure gas tank technology, which was developed as one of the startup’s lightweight technologies for space development. This innovation will facilitate sustainable progress in the energy industry and is a major step toward decarbonization.
Furthermore, Kowa is conducting business feasibility studies for joint verification of ammonia co-firing technology in India as well as for a value chain for green fuel hydrogen and ammonia, based on the “Japan-India Clean Energy Partnership (CEP)” jointly announced by the Japanese government with India. Through these efforts, we aim to make concrete contributions to achieve carbon neutrality in both Japan and India.
Through this alliance, SPACE WALKER and Kowa will leverage the strengths of both companies to accelerate the technological development necessary for the mass production and sales of hydrogen gas tanks for transportation, enabling transport cost reduction and the potential exploration of joint ventures to play a leading role in the new era. We aim to take a significant step towards the future by contributing to the creation of a sustainable society.
【Message from Akihide Manabe, Co-Founder CEO】
Co-Founder and CEO |
SPACE WALKER envisions a sustainable society on Earth and in Space. Our lightweight technology for space development activities can significantly reduce the cost of hydrogen transportation and storage, not only in space but also on Earth, offering potential of a major contribution to the transition towards decarbonization. We expect to accelerate technological development necessary for the mass production and sales of gas tanks for hydrogen transportation through this partnership, addressing the crucial challenge of transport cost reduction towards wider-spread permeation of a hydrogen society. We will maximize the potential of this technology and pave the way for commercialization, driving further innovation as leaders of the new era. With the myriad of possibilities opened by this joint venture, we will continue to move forward and take steps towards a better future. We appreciate your ongoing support. |
【About Kowa】
Kowa, founded in 1894 as a cotton fabric wholesaler in Japan, has grown into a global enterprise actively engaged in various business activities from research to manufacturing and sales of medicines, medical equipment, food, optical products, energy saving, energy creating products as well as trading of wide range of commodities, textiles, vessels, machinery, and chemicals. The company has embarked on its journey to provide sustainable environmental & infrastructure solutions to its customers.
For more information, please visit www.kowa.co.jp/eng/
【About SPACE WALKER】
Company name : SPACE WALKER, Inc.
Head Office : 3-16-12 Shimbashi, Minato-ku, Tokyo, 3rd Floor Daiichi Yokoyama Building
Shimbashi Office : 3F, 3-16-12 Shimbashi, Minato ward 105-0004, Tokyo
*Please send mail to the Shimbashi Office.
Representative : CEO Akihide MANABE
Establishment : December 2017
SPACE WALKER is a university startup conducting research and development of winged reusable suborbital and orbital spaceplanes. The company also develops key components and other related businesses such as next-generation composite tanks―applying space technology to accelerate industry decarbonization on Earth.
SPACE WALKER envisions sustainable space transportation for all, as familiar as commercial air travel today.
For more information, please visit https://space-walker.co.jp/en
For inquiries contact:
Corporate Planning Office / Public Relations
pr@space-walker.co.jp
