December 2 2020Toshiba Energy Systems & Solutions Corporation
Toshiba Corporation
Toyo Engineering Corporation
Idemitsu Kosan Co.,Ltd.
All Nippon Airways Co., Ltd.
Japan CCS Co., Ltd.
Six Companies to Start Studying Carbon Recycling Business Models- Converting CO2 from Sources such as Exhaust Gases into Sustainable Aviation Fuel Toshiba Energy Systems & Solutions Corporation ,Toshiba Corporation, Toyo Engineering Corporation,
Idemitsu Kosan Co.,Ltd. , All Nippon Airways Co., Ltd. and Japan CCS Co., Ltd. have reached anagreement to begin reviewing recycling business models for reuse of CO2 from sources such as exhaustgases into Sustainable Aviation Fuel (SAF*1) via Power-to-Chemicals (P2C*2) processes, using technologies
developed by Toshiba Corporate Research & Development Center which convert carbon dioxide (CO2) tocarbon monoxide (CO) through electrolysis *3.
These reviews will identify challenges and future business models leveraging each company’s expertise,technologies, and plant facilities for supply chains that will deliver SAF. Specifically, the companies willreview the possibilities for streamlined SAF supply chains from upstream to downstream, using renewableenergy and hydrogen to produce SAF out of CO2 which is separated and captured from sources such as
exhaust gases of industrial emitters, and subsequently supply this fuel for flights in aviation.
Various eco-friendly innovations will be needed to achieve the CO2 emissions reduction targets indicated inJapan’s Nationally Determined Contribution*4 for the Paris Agreement. These include separation, storing andrecycling CO2, making renewable energies into mainstream power sources, expanding the use of hydrogen,and decarbonization of fuels. In the aviation industry, the International Civil Aviation Organization (ICAO)
has also defined CO2 emissions reduction targets in its Carbon Offsetting and Reduction Scheme forInternational Aviation (CORSIA), and strongly urges stable production and supply of SAF since using it inaviation is one effective means of meeting these targets. With its high CO2 emissions reduction capability,
the P2C process offers great potential as a next-generation technology for producing SAF out of CO2.
These companies will be jointly reviewing future SAF supply chain business models, with the aim of realizing
a sustainable society.

*1 SAF: Sustainable Aviation Fuel (jet fuel produced from sustainable supply sources with low-CO2emissions in the process from the production and sourcing to the combustion of materials and substances)*2: P2C: Power-to-Chemicals is a carbon capture and utilization (CCU) and carbon recycling technology thatuses renewable energy and renewable hydrogen energy to recycle CO2 by converting it into resources withhigh environmental value. P2C significantly contributes to the spread of renewable energy in addition toreducing CO2 emissions.
*3: News release by Toshiba Corporation
http://www.toshiba.co.jp/rdc/rd/detail_e/e1903_02.html*4: Nationally Determined Contribution (NDC): Greenhouse gas emissions reduction targets determined byeach country, and mitigation efforts to achieve those targets. Japan submitted its NDC to the United Nations
Framework Convention on Climate Change (UNFCCC) in March 2020.
Illustration of the P2C process