Japanese Prime Minister Shinzo Abe has announced that Japan will allocate up to 400 billion yen ($3.4 billion) from the Japanese Innovation fund to accelerate research in artificial intelligence, hydrogen and energy efficiency.
An industry body and the Ministry of Economy, Trade and Industry said in a statement that the fund will allocate 100 billion yen for the development of hydrogen-based electric vehicles, and 80 billion yen to accelerate research into biofuels and smart applications of energy.
Several utilities are already partnering with companies to develop and develop new hydrogen production technologies to meet Japan’s plans to expand refuelling services and clean up its nuclear energy emissions following last year’s earthquake and tsunami.
The fund will focus on one of the most fundamental questions of hydrogen development in Japan, “Where is the growth in the hydrogen market?”, the industry group says. It will seek to get an answer on hydrogen consumption, demand, space, hydrogen extraction and hydrogen supply.