Japanese trading house Itochu plans to jointly develop, manufacture and sell fuel cell power systems in Japan with US manufacturer Upstart Power, targeting to begin sales in 2024.
Itochu has signed a strategic business partnership agreement with Upstart and invested in Upstart's shares, Itochu said on 19 December. But it did not disclose the exact date of the contract or investment values.
The 1.25kW solid oxide fuel cell power generator for residential and industrial uses called Upgen NXG can consume city gas, propane, hydrogen and methane. It can also be used as an on-demand backup energy when there is a shortfall of solar power. Upgen NGX can be turned on and off quickly. It also does not require water storage tanks, allowing Upgen NGX to be used at sites with limited space.
Itochu plans to encourage utilising the generators with solar power and storage batteries.
Storage batteries have grown increasingly important especially given the push to decarbonise and rising renewable power capacities like solar and wind power, which tend to rely on weather conditions. The Japanese government and industries have been stepping up efforts to secure rare metal supplies and develop recycling technologies.
