Toyota Tsusho Corporation ("Toyota Tsusho") announces today that it has signed a heads of agreement to consider the feasibility of production of Blue Ammonia with the Egyptian Petrochemicals Holding Company and the Egyptian Natural Gas Holding Company, companies under the Ministry of Petroleum and Mineral Resources in the Arab Republic of Egypt ("Egypt").

Ammonia, which does not emit GHG during combustion, is expected to be an alternative fuel in areas such as coal-fired power generation. However, GHG emission the most of which is CO₂ during ammonia production has become an issue.

In recent years, great expectations have been placed on CO₂-free ammonia ("Blue Ammonia"), which is produced with Carbon dioxide Capture and Storage ("CCS") into oil and gas fields and aquifers where located underground.

Toyota Tsusho will proceed with a feasibility study for the first Blue Ammonia production in Egypt, an oil and gas producing country, through CCS utilizing the existing gas fields.

The discussions with companies under the Ministry of Petroleum and Mineral Resources to conduct a feasibility study would be started. After identifying the feasibility of the project, Toyota Tsusho plans to promote its development.

Toyota Tsusho Group contributes to a realization of a decarbonized society while also contributing to green economic growth in Africa through the creation and utilization of new clean energy sources, to pass on a better global environment to the children of the future.