TOYOT O Y OTIMES

Moscow

Milan
Seoul

Mumbai21

Chiba,Tokyo

ShanghaiC O M M U N I C A T I O N S

Vol.

Houston

Kuala Lumpur
Singapore
Jakarta

MARCH 2024
Sao Paulo

TOYO ENGINEERINGGLOBAL NETWORK● HEAD OFFICE / ENGINEERING CENTER

Toyo Engineering Corporation

Wisma IKPT, 2nd Fl., JL. MT. Haryono Kav.
4-5, Jakarta 12830, Indonesia
Te l : 62-21-835-4170
Fax: 62-21-835-4149

Room No.207, Entrance7,
World Trade Center, KrasnopresnenskayaNab.,12, Moscow 123610, Russia
Te l : 7-495-258-2064/1504

C O M P A N I E S● Moscow

G R O U PO F F I C E S● Jakarta

2-8-1 Akanehama, Narashino-shi, Chiba
275-0024, Japan
Tel: 81-47-451-1111● TEC Project Services Corporation（TPS）
2-8-1 Akanehama, Narashino-shi, Chiba
275-0024, JapanTe l : 81-47-454-1178
Fax: 81-47-454-1550● Toyo Engineering Korea Limited【Seoul】
Toyo B/D.11,Teheran-ro 37-gil, (Yeoksam-dong),
Gangnam-gu,Seoul,06142,Korea
Te l : 82-2-2189-1620
Fax: 82-2-2189-1890● Toyo Engineering Corporation (China)【Shanghai】
7F, New Bund Oriental Plaza I, No. 512 HaiyangWest Road, Pudong New District,Shanghai
200124, China
Te l : 86-21-6187-1270
Fax: 86-21-5888-8864/8874● Offshore Frontier Solutions Pte. Ltd.
【Singapore】
9 North Buona Vista Drive, #21-01 The Metropolis
Tower 1, Singapore 138588
Te l : 65-6496-4000
Fax: 65-6496-4191● PT. Inti Karya Persada Tehnik（IKPT）【Jakarta】
JL. MT. Haryono Kav. 4-5, Jakarta 12830, Indonesia
Te l : 62-21-829-2177
Fax: 62-21-828-1444/62-21-835-3091● TOKYO HEAD OFFICEHIBIYA FORT TOWER, 16th Floor
1-1, Nishi Shimbashi 1-chome
Minato-ku, Tokyo 105-0003, Japan
Tel: 81-3-3508-0111● Toyo Engineering & Construction Sdn. Bhd.
【Kuala Lumpur】
Suite 25.4, 25th Fl., Menara Haw Par,
Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia
Te l : 60-3-2731-1100
Fax: 60-3-2731-1110● Toyo Engineering India Private Limited【Mumbai】"Toyo Technology Center", 71, Kanjur Village Road,
Kanjurmarg (East), Mumbai-400 042, India
Te l : 91-22-2573-5000
Fax: 91-22-2573-5842● Toyo Engineering Europe, S.r.l【Milan】
10 Via Alzata, i-24030 Villa d'Adda, Bergamo, Italy
Te l : 39-035-4390520● Toyo U.S.A., Inc.

【Houston】
15415 Katy Freeway, Suite 101, Houston,
Texas 77094
Te l : 1-281-579-8900
Fax: 1-281-599-9337● TS Participações e Investimentos S.A.

【Sao Paulo】
Edifício Birmann 12, Rua Alexandre Dumas, nº
1.711, 1º andar, 04717-911,
Chácara Santo Antônio, São Paulo-SP, Brazil
Te l : 55-11-5525-4834
Fax: 55-11-5525-4841

2024 Toyo Engineering Corporation

Special fe

ature

A b o u t Fu e l Am m o n i aAmmonia

TOYO
iseverywhereAbout Fuel Ammonia

We were helped!
Are there any

fuels that do not1emit carbon

Global warming has caused averagetemperatures around the world to rise,
resulting in rising sea levels due to themelting of glaciers and frequent abnormal weather conditions due to climatechange.
The ice is melting
and there’ll be fewer
spaces for us to live.

It's really hot
lately.

2
The promise ofcarbon neutrality

burned?

Ammonia,
the savior of the Earth

You forgot
about me.

AMMONIAPr o f i l e
The unsung hero
who saved humani-

I'll savethe Earth
once again andbe a h e r o !

ty from a food crisis
as a fertilizer. Now
actively working

To halt the acceleration of global warming, Japan has declared that it willachieve carbon neutrality, the reductionof overall greenhouse gas emissions tozero by 2050.

Hey.

dioxide whencomes!
it
e
r
e
h
d
n
A

Global warming
greatly affects living
creatures and plant

to save the planet!
Could this be thereturn of the hero?

Oh,amver y monia
isre l i a
ble.

Huh?

You are ammonia.
You are a bit smelly
chemicals...

How r

s,
year
100
t
s
a
el
ood
g
ut th orted f
urin
abo
er d
z
pp
i
l
u
i
s
t
For
r
e
a fe
h
I hav
owt
n as
n gr
ctio
o
u
i
t
d
o.
la
g
u
a
pro
p
po
ears ,
the00 y
ut 1 e of this o.
o
b
a
us
her
Beca globalamIa

We must do
something quickly.

It's safe,
secure andconvenient.

3

The cause iscarbon dioxide

To date, our society has depended
on fossil fuels. Burning them emits
a la rge a m o u nt of c a r b o n dioxid e
which has been accelerating global
warming.

CO 2

Am I doing
somethingbad?

02

As it is, hydrogen is hardto transport in large quantitie s . I n c o nt ra st , t h e reis e s t a b lis h e d a m m o n i atransportation technology
and ammonia is an in te r-tra n sfo rm a ble e n e rg ycarrier which can also be
used as hydrogen by be ing retransformed into hydrogen in the place where
it is used.

First, extract hydrogen

Blue hydrogenfrom Fossil Resource＊T he CO₂ emitted during
combustion is captured/
recycled

Green hydrogenfrom Renewable Energy

Thank you!

Transform it into easily
portable ammonia andsend it to its destination
ea

sy e

asy

It is used as fuel by ships,
thermal power plants
and other facilities.

Engine Fuelfor ShipGas Turbine Generation
Fuel conversion from coal

Ethylenecrackers● A s a hydro g e n c a r r i e r
At the destination,hydrogen can be extracted bycracking ammonia.

Then what are you here for?
It's been a long while.

＼ That can reduce CO 2 emissions. ／N＊Electrolysis of waterTransform it into easily
portable ammonia andsend it to its destination

Why don't you
burn me?

Oh I see. You're right.
You have helped us a lot.

● U sing am mo n i a a s f u e lude.

It will be used as hydrogen in fuelcells for vehicles and other usesand for other applications.

Wow!

What a surprise!

No carbon dioxide
is emitted at all.

This is a clean fuelthat emits no CO2.

clean!

＼ That can reduce CO 2 emissions. ／

N

Crac

ki n gFCV

Gas Turbine
Generation

Fuel Cells

03About Fuel Ammonia

CHILE

TOYO's ammonia
is growing
more common
worl dwide

INDONESIA
Pupuk Iskandar Muda (PIM) existing fertilizer plant

TOYO got a n awa rd fro m Min i s t r y o f E c o n o m y, Tr a d e a n d
Industry (ME TI), Government ofJapan and will start a feasibility
study (FS) for the green ammon ia＊1 p ro d u c ti o n i n I n d o n e s ia ,under the collaboration with Pupuk Indonesia Holding Company(PIHC) being a government en terprise in Indonesia, and Pupuk
Iskandar Muda (PIM) which is a
subsidiary company under PIHC.
During the FS, TOYO will study
feasibility for the green ammonia
p ro d u ctio n in I n d o nesia at theexisting fertilizer plants owned
and operated by PIM, and would
like to establish a plan for the
optimal development, with con sid e ratio n fo r t h e s ele ctio n ofa p p ro p riate R e n ewa ble E n erg ypower source, effective countermeasure against the fluctuationof Renewable Energy power supply etc.

INDIA
The Indian government announced its
National G reen Hydrogen Mission in
January 2 0 2 3 , setting the target of
producing five million tons of green hydrogen annually by 2030.
Based on this policy, a joint-venturecompany was established with Kowa
C o m p a n y, L t d . a n d a S i n g a p o r e a n
subsidiary of Adani Group, an Indian
emerging conglomerate, with the goalof selling and marketing green hydro -＊1 G reen Ammonia: Ammonia synthesized from hydro gen produced by renewable energy.
Location map of Pupuk Iskandar Muda (PIM) fertilizer plant□

MOU signed for hydrogen production technology

AMMONIA NEWS

Understanding (MOU) with KELLOGG BROWN & ROOT LLC(President CEO Stuart Bradie, KBR＊2) as the first EPC partner
to accelerate commercialization of KBR’s licensed technology,“Hydrogen from Ammonia Cracking Technology (H2ACTSM)” on
July 26th, 2023.
Facilities using this technology will primarily be installed in ammonia receiving terminals. It is expected to accelerate the social
implementation of hydrogen energy＊3 by cracking ammonia andextracting hydrogen in the near future.
＊2 K B R has adva nced tech nological ca pa bilities of a mmo nia pro d uctio n process a nd
worldwide top market share＊3 G reen Growth Strategy Through Achieving Carbon Neutrality in 2 0 5 0 ” formulated by
Japanese government declared up to 0.5 million tons of domestic hydrogen utilizationin 203 0.
Furthermore, in “ Basic Hydrogen Strategy”, the target for hydrogen supply in 204 0 is
1 2 million tons per year. To achieve these targets, further development of hydrogenproduction technology and social implementation are required.

04

Project Name

HyEx Project (Phase-1)

Construction
Site (planned)

Tocopilla, Antofagasta Region, Chile

Facility

Green Ammonia Plant with 18,0 0 0 tons Annual Production

LicensorKBR Inc., USA

ScheduledCompletion2025(in case the succeeding Demonstration Phase is awarded by NEDO)

synthesis technology applying high-performance iron catalyst

TOYO

KBR

TOYO
Detailed
design ofcommercial
plant of
H2ACT TMand EPC

Japan's Energy Efficiency Technologies in fiscal year 2 0 2 2 . Throughthe project, technologies for stablegreen ammonia plant operation during the fluctuation of renewable energy from photovoltaic power plant
will b e stu die d . T h e c o nstru ctio nsite will be in Tocopilla, Antofagasta
Region (northern Chile).

MOU signed for commercialization of low-cost and energy-saving ammonia

by Ammonia cracking as the first EPC partner with KBRTOYO announced today that it reached a Memorandum of

gen and ammonia produced in India inJapan in the future. This was included by the Ministry of Economy, Tradeand Industry in the scope of its 2023
survey of the feasibility of the business of expanding high-quality energy
i nf ra s t r u ct u re ove r s e a s (s u r vey fo r
promoting the building of overseas infrastructure by Japanese companies).
In this project, TOYO conducts a feasibility study (FS) of the business ofmaking green ammonia and urea fromrenewable energy, and researches theentire value chain from the acceptance of these substances in Japan totheir utilization.

TOYO and Mitsui & Co., Ltd. today
announced that a feasibility study
fo r a g r e e n a m m o n i a p r o d u c t i o ndemonstration project in Chile is tobe funded by the New Energy andIndustrial Technology Development
O rga nizatio n N E D O. T hese t wo
companies had applied to the International Demonstration Project on

KBR
Businessdevelopment
for sociai
implementation of
H2ACTTMTOYO announced today that it reached an agreement with Tokyo Instituteof Technology (Tokyo Tech, President of Tokyo Institute of Technology
Kazuya Masu), Ammon Fields Co., Ltd. (Ammon Fields, President & CEO
Kenta Adachi) and F.C.C. Co., Ltd. (FCC, President ＆ CEO Yoshitaka Saito, FCC) to execute a Memorandum of Understanding (MOU) on joint development or commercialization of Iron-Metal Hydride catalyst＊4 developedby Prof. Hara of Tokyo Tech on June 14, 2023.
Ammonia has been synthesized from N 2 and H 2 at 400-600℃ and 15-20

Provideoptimized designof H2ACT SM
as licensor

MPa for over 100 years. As a recent development, the innovative Iron-Metal Hydride catalyst has been announced to exhibit excellent performance＊1

under low temperature and pressure condition : 100℃ , 1MPa , therefore it
provides advantages of saving energy and CO 2 emission during ammonia
production.

TOYOManagement andcoordination of the
Project,
Engineering Validation,
Commercialization
Study

Tokyo Tech

Ammon Fields

Research anddevelopment of
the catalyst

Management ofintellectual
property(IP)FCC

Development andmanufacture of
the catalyst

As the Iron-Metal Hydride catalyst does not contain precious metals (raremetal), there are advantages for economical and sustainable supply.

＊4 A highly efficient catalyst with excellent electron-donating
performance developed by Prof. Hara of Tokyo Tech.

05

About others

More Earth Savi ors are Coming!
Eco-friendly methanol is made using
TOYO's proprietary technology

g-Methanol

The power generation method
using the heat of magma continues to evolve.

®

Closed Loop Geothermal System

Making all of the methanol
used g-Methanol®

CO2

can enable the recycling of

Adhesive, synthetic fiber,
film, pharmaceuticals and plastics

our society.

This is not a dream.

We havemore heroes

Use it as achemical

CO₂ capture

Geothermal power generation is one of the
key renewable energy sources that serves as a baseload power*, and it is crucial for efforts towards decarbonizing society. However, traditional geothermal
power generation faces several challenges, and there
are hurdles to increasing power generation capacity.
In such circumstances, the technology that is currently attracting attention is the geothermal closedloop system.
＊ A reliable and cost- effective power source capable

Problems of the conventional method●T hree prerequisites must be satisfied: magma (heat), rain and rivers (water)
and a geothermal reservoir (caprock covering a pool of water). It is difficult
to find good locations as they are limited.
●D igging into the ground adds to the cost. Without digging, however, somethings cannot be clarified.
●T he conventional method depletes water resources and can be influenced
by nature.
●T he method involves installing piping underground. The minerals containedin the hot water erode the piping.
●C oexistence with hot springs and location restrictions such as restrictions
relating to national parksof continuous operation, offering stable supply.

Collect heatFrom
renewableenergyDoes notnecessitate wateror a reservoir

g-Methanol ® isproduced

Synthesis by
MRF-Z® Reactor(much less limited interms of location).

Fuel for ships,
fuel for power generation,
gasoline blending
gasoline fuel and jet fuelMethanol can be generated from CO 2 .
It's like magic.

Use it as fuelFurthermore, the reactor is
TOYO proprietary technolog y.

Pour water from above ground into the system

It collects water poured
into the system fromabove ground, not underground hot water.

Does not interferewith the reservoirsof hot springs anddoesn't conflict withlocation restrictions
such as restrictions
relating tonational parks.

This can prevent
erosion as it limits
the exposure
to minerals.

TOYO and Cosmo Energy to Initiate a Joint Study on Direct Synthesis of

A memorandum of understanding (MOU) regarding joint research on compre-

TOYO and Cosmo Energy Holdings Co., Ltd. (Cosmo En-

attracting attention for its use in CCU (carbon capture and

TOYO has signed Memorandum of Understanding (MOU) with PT Geo Dipa

ergy Group, Representative Director and CEO Shigeru

utilization) aimed at decarbonization.

Energi(GDE) on September 2 0 th regarding joint research on comprehensive

Yamada) today (October 23) concluded a basic agreement

Through this joint study, the two companies will examine

utilization of geothermal energy.

regarding a joint study aimed at direct synthesis of CO₂ into

factors such as the CO₂ reduction effect and investment

Based on the MOU, TOYO and GDE will conduct joint research on comprehen-methanol using a catalyst.

profitability, with the aim of producing sustainable products

sive utilization of geothermal energy, including the recovery of valuable minerals

TOYO possesses a licensed technology (g-Methanol®) thatderived from CO₂ emitted from refineries and other Cosmo

such as lithium contained in geothermal hot water, green hydrogen production

enables direct synthesis of methanol from hydrogen andEnergy Group facilities.

from geothermal power generation, and geothermal closed-loop technology.

CO₂ Emitted from Refineries and Other Facilities into Methanol

hensive utilization of geothermal energy has been signed

CO₂ separated and captured from refineries and plants.

The closed-loop technology is expected to facilitate additional development ofSince CO₂ can be used directly as a direct feedstock, it isexisting fields with reduced steam output and new development of undiscov-

expected that methanol can be produced efficiently without
having to go through multiple processes.
Methanol converted from CO₂ is an important basic chemical feedstock that can be applied in chemical products,
fuels (marine fuels, e-fuel), and the like, and is therefore

06

I got it!

Separation &CaptureCO₂hydrogenered fields. Geothermal power generation is one of the key
g-Methanol®
Scope ofthis joint study

MethanolChemical products
Fuelinitiatives towards a decarbonized society and renewableenergy baseload, contributing to efforts aimed at achieving acarbon-neutral society.
See more

07

bo

ni

Foods

ec

ar

Electricity

D

Engineering for
Sustainable
Growth of
the Global Community

za

tio

n

OUR MISSION

E
l
ta
en n
nm tioiro ecnv rotp

Daily Goods

TOYO is ever ywhere
TOYO is n ot a c om p a ny t h at ma kes p r o d u c t s t h at
yo u to u c h wit h yo u r h a n d s o r se e wit h yo u r eyes .

Fuel

We a re in dire c tly c o n n e c te d to all of yo u ,also s u p p o r t p e o ple's lives eve r y w h e re.

Medical supplies

08

09

MOVING ON

TOPICSTOYO COMMUNICATIONS

Ot hers

Order
receivedToyo-India Awarded ExxonMobil’s Lubricant
Manufacturing Plant Project in India

DX-PLANT ®(digital twin) confirms 4％ room
for improvement in Cracked Gas Compresspr power

Toyo Engineering India Pvt. Ltd. (Toyo-India, Managing Director Yukihiro Akimoto), a wholly owned subsidiary

TOYO has developed a digital twin of Cracked Gas

of TOYO has been awarded a contract by ExxonMobil Lubricants Private Limited (EMLPL) for the Engineering,Compressor (CGC) for the ethylene plant of Maruzen

Procurement, Construction and Commissioning (EPCC) of 159,000 kL/Annum lubricant manufacturing plant at

Petrochemical Co., Ltd. (Maruzen Petrochemical) us-

Isambe, Maharashtra, India.

ing its digital offering DX-PLANT®. This has enabled

EMLPL is a wholly owned subsidiary of global energy major Exxon Mobil Corporation (EM), USA.

to identify a maximum 4 % difference between the

ExxonMobil markets a wide range of Mobil-branded engine oils, greases and lubricants for automotive and indus-

compressor power calculated in DCS＊ and the power

trial sectors.

based on the actual operating conditions calculatedThis project—ExxonMobil’s first greenfield investment in India—will manufacture high-performance Mobil-branded

in DX-PLANT®. Real-time power calculation based on

lubricants to meet growing domestic demand from industrial sectors such as manufacturing, steel, power, mining,

actual operating conditions in virtual space, so-called

and construction, as well as from passenger and commercial vehicle segments. Once operational, the plant will

digital twin, has the potential to improve operating

source a larger part of the raw materials and all packaging from local

performance compared to conventional DCS used forbusinesses, thereby contributing to the Indian government’s “Make in In-

operation management. This is an important achieve-

dia” initiative. It is expected to begin commercial operations by the end

ment. Both companies will continue to verify the results confirmed thus far and consider more ways to improveof 2025.

the efficiency of plant operations.
Engineering, Procurement, Construction and Commissioning

ScheduledCompletion2025

As a total solution provider, TOYO aims to contribute to improve the profitability of our customers throughout theplant life cycle.

M O V I N G

M O V I N G

Scope＊ D istributed Control System
Mr. Suresh B Shelke ED - Commercial & Sales, Toyo-India(Left)
with Mr. Vipin Rana, CEO, EMLPL(Right),
at the contract signing ceremony

O N

O N

Indonesian affiliate PT Inti Karya Persada Tehnik (IKPT, Director and President Yasuhiro Hime), a subsidiary ofservices from MODEC, Inc. in May 2 0 2 3 . The first contract

Toyo Engineering Corporation (Toyo) has been awarded a contract by PT Energi Listrik Batam(ELB) for the con-is for the Uaru Project, which is planned to be deployed forstruction of Tanjung Uncang Add-On Combine Cycle Power Plant (CCPP) Project 39 MW Project.

the development by ExxonMobil Guyana of the Snoek/Mako/

ELB is a subsidiary of Medco Power Indonesia (MPI) and MPI’s operating asset in Batam Island. Previously

Uaru fields located approximately 2 0 0 km offshore Guyana

ELB has developed and now operating the Gas Power Plant (PLTG) with capacity of 2 x 35 MW Simple Cycle

in the Stabroek Block. The second contract is for the devel-

Power Plant (SCPP), which has been in commercial since 2016. The new additional capacity through the con-opment of offshore oil fields by Equinor ASA in the BM-C-

struction of 39 MW CCPP will utilize the exhaust gas from the existing simple cycle power plant. Therefore,

3 3 Block within the Campos Basin, located approximately

it will convert the Tanjung Uncang Gas Power

200km offshore Rio de Janeiro, Brazil. Both contracts involve

Plant (PLTG) to Tanjung Uncang Steam Gas

the construction of new vessels with larger storage capacities

Power Plant (PLTGU) with the total contracted

and topsides compared to VLCC＊3 vessels. Taking advantage

capacity of 109 MW.

＊4

will

be installed, enabling a reduction in carbon dioxide emissions

Engineering, Procurement,

compared to the gas turbine generators traditionally used.

Scope

10

Engineering, Procurement,
Construction and Installation

Scope

Construction
and Commissioning

ScheduledCompletion2025＊1 A joint venture with MODEC, launched in August 2022, will be responsible for the engineering,procurement, and construction of the FPSO. TOYO’s shareholding Ratio is 35％＊2 Engineering, Procurement, Construction and Installation＊3 Floating Production, Storage and Offloading System＊4 Very Large Crude Oil Carrier (large oil tankers with a weight of 200,000 watts or more)

C O M M U NICAT IO NS

New award for Gas Power Plant
Add-On Project in Indonesia

OFS ＊1 has been awarded two contracts for FPSO EPCI ＊2of the spacious topsides, combined cycle generators

The FPSO for the BM-C-33 project

T OYO

Order
receivedC O M M U NICAT IO NS

Orderreceived

T OYOAwarded Two FPSO in Republic of Guyana and Brazil

Signing ceremony

11

MOVING ON

TOPICSTOYO COMMUNICATIONS

Order
received

Order
received

TOYO Awarded Energy Efficiency Study Using HERO
-First HERO Projects in Thailand-

TOYO Awarded Acetylene Black Projectin Thailand

TOYO has been awarded energy efficiency study contracts

TOYO has been awarded engineering and procurement

for the modernization of an existing large-scale aromatics

contract of Acetylene Black project by Denka SCGC Ad-

plant and phenol plant from PTT Global Chemical Public

vanced Materials Co., Ltd., a joint venture company of Den-

Company Limited (GC).

ka Company Limited (Denka, President: Toshio Imai) and

The purpose of these projects is to improve the energy

SCG Chemicals Public Company Limited (SCGC, President:

efficiency of GC’s existing plant. TOYO provides a facili-

Tanawong Areeratchakul).

ty-modification plan for this purpose through the study using

Acetylene Black is a type of carbon black with excellent con-

TOYO’s own optimization technology, Hybrid Energy system

ductivity, mainly used for applications such as EV lithium-ion

Re-Optimization (HERO). This project is two of seven award-

batteries and high-voltage transmission cables for offshore

ed projects using the HERO service to date and it is the firstwind power generation and contribute to carbon neutrality.

HERO project in Thailand’s petrochemical industry.

TOYO's proposal for an optimal design and procurement planthat would enable early completion of the project and extensive project experience in Thailand was highly evaluated andScope

Lump sum for detailed
engineering and procurement

ScheduledCompletion2026

led to the contract award.

See More

Taking advantage of the expertise we have gained in the plant engineering business, TOYO will contribute to the

Feasibility Study

development of both companies in the petrochemical product field, as well as to the realization of a carbon-neutral

and Design Package Development

M O V I N G

M O V I N G

Scope

society and the rapid growth in the Southeast Asian market.

O N

O N

supply contract for a fertilizer plant of PT Pupuk Sriwidjaja
Palembang (Pusri) in the Palembang District of South
Sumatra from WUHUAN ENGINERING CO., LTD.
(“Wuhuan”) in China.

Process

ACES21-LP Ⓡ

Competitor
Process A

Competitor
Process B

Urea
synthesispressure【barG】

136

142

147

Pressure comparison with competitor processes

TOYO successfully completed the deliveryof biomass power plant to its client.
A 5 0 MW power plant was delivered to
Aichi Gamagori Biomass Power Generation Godo Kaisha in Gamagori-shi, Aichi in

TOYO will provide its urea license and the process design

August 2023.

package as a Urea Licensor as well as the proprietary equipment, and associated technical services for this project.

TOYO is currently working on the remain-

TOYO’s advanced urea synthesis technology ACES21

ing seven biomass-fired power plant pro-®＊1

will be applied in this project, and the plant will be designed tobe compatible with TOYO’s most advanced urea synthesis technology, ACES21-LP®＊2 for the first time. ACES21-LP® isjects.

a technology that combines ACES21 with advanced low-pressure synthesis technology to reduce energy consumption

By harnessing the lessons learned fromin supplying raw materials, and improve process efficiency. Application of this TOYO’s latest synthesis technology also

past projects, TOYO will continue to con-leads to plant costs reduction due to the considerably lighter weight of the synthesis equipment, thereby contributing totribute to the creation of a sustainable

low-cost urea production and global environmental conservation.

society.

®

Scope
Scheduled Completion

12

Completion of
Biomass Project

Urea licensor (licensing, basic design, procurementof proprietary equipment, technical services)2027＊1Simplification of the urea synthesis process not only reduces plant construction costs, but also optimizes operating conditions and thus reduces
operating costs as well. Applied already at 16 urea fertilizer plants.
＊2T he technology that reduces energy consumption (by 3-5% for steam andelectricity) due to further reduction of raw material pressure and improving
process efficiency as compared to ACES2 1 ®. Implementing this newtechnology to new plants with dedicated design for ACES2 1 -LP® canalso reduce the weight of synthesis equipment, which reduces cost of theequipment (by 5-10%). The technology is applicable to both new and existing plants. LP stands for low-pressure.

C O M M U NICAT IO NSTOYO has been awarded a licensing and equipment

T OYO

Comple t ion

C O M M U NICAT IO NS

Orderreceived

T OYO

TOYO Awarded Licensing and Equipment Supply
Contract for Urea Fertilizer Plant in Indonesia

Project member of Gamagori biomass power plant

Gamagori biomass power plant

13

MOVING ON

TOPICSTOYO COMMUNICATIONS

Completion

Completion

LNG Regasification Plant Projectin India Achieves Mechanical Completion

Completion Ceremony for
Acrylic Acid Plant Project in Indonesia

On March 28, 2023, Toyo-India achieved Mechanical Com-

A completion ceremony was held on May

pletion (MC＊) for the LNG regasification plant (with an annual

23, 2023 to mark the finished construction

send out capacity of 5 million tons) that the company hasof the acrylic acid plant in Cilegon, Indone-

been constructing in Chhara, Gujarat, in western India.

sia. TOYO and its Indonesian affiliate, IKPT,The project was ready for commissioning by HPCL LNG Lim-collaborated on this project for PT. NIPPON

ited (HPLNG), a subsidiary of major state-owned oil refining

SHOKUBAI INDONESIA (NSI), a subsidiarycompany HPCL (Hindustan Petroleum Corporation Limited),of NIPPON SHOKUBAI CO., LDT..

which is responsible for receiving, storing and regasifying

The acrylic acid produced at this facility is

LNG. The project was directly affected by COVID-19 from thestart of construction, which made it challenging to secure

LNG regasificationa crucial ingredient for superabsorbent polymers (SAP), supporting the surging demandfor diapers in Indonesia and neighboring

million hours without accident. HPLNG is preparing for arranging an LNG carrier to begin supplying natural gas

countries associated with population growth.

to the Indian domestic market.

As Indonesia is expected to become the

The company also plans to expand the facility to a capacity of 10 million tons per year in future. Toyo-India, aworld’s fourth-largest economy in terms ofleading constructor of LNG regasification facilities, will continue to increase its marketing efforts to secure more

GDP by 2040, we are dedicated to contin-

orders.

uing our contribution to the country’s rapid＊ M echanical Completion (MC) is a state where each piece of equipment has been fabricated, assembled and installed according to specifications and drawings on an individual
basis.

growth and development.

M O V I N G

M O V I N G

construction personnel. However, by prioritizing safety, the project team managed to accomplish working over 15

Completion ceremony

O N

O N

In June 2023, TOYO launched an onsite Power Pur-

(MC＊) for the Ammonia plant and associated facilities and utilities

chase Agreement (PPA) business for Chosei Aoba

(with a daily production capacity of 1,500 tons), which the com-

Farm Co., Ltd..＊pany had been constructing for Performance Chemiserve Limited

Chosei Aoba Farm, a large greenhouse horticulture(PCL) in Navi Mumbai, Maharashtra, in southwestern India.

operator, faced a significant management challenge—

This project, an EPC (Engineering, Procurement, and Construc-they needed to reduce their annual electricity expens-tion) venture for an Ammonia plant under license from KBR, aes for production. By switching part of the electricity

US company that has partnered with TOYO for more than 5 0

purchased from the conventional power grid to anyears, signifies a pivotal shift for PCL’s parent company, Deepak

onsite PPA with zero initial cost, they expect to re-

Fertilisers and Petrochemicals Corporation Limited (DFPCL). A

duce electricity expenses by 10 to 15 percent.

leading manufacturer of fertilizers and chemical products in India, DFPCL will transition from importing ammonia

While suitable land for mega solar projects is becom-

to self-sufficient production, ensuring stable supply.

ing scarce, there is great potential for this business

The successful completion of this project led to a new order in December 2023 for an ammonia receiving tank EPC

in the agricultural sector. TOYO will explore businessproject for Mahadhan Agritech Limited (MAL), another subsidiary of the DFPCL Group.

models combining solar power generation and smart

India is a major agricultural country with a vast population of approximately 1 .4 billion people. As it continues toagriculture.

grow, TOYO is committed to contributing to the nation’s development through the construction of ammonia plants.

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TOYO Chosei solar power plant

C O M M U NICAT IO NS

Launch of Onsite PPA Business forLarge-Scale Farms in Chiba

On June 12, 2023, Toyo-India achieved Mechanical Completion＊ M echanical Completion (MC) is a state where each piece of equipment has been fabricated, assembled and installed according to specifications and drawings on an individual
basis.

T OYO

CompletionC O M M U NICAT IO NS

Completion

T OYO

Ammonia Plant

Ammonia Plant in India
Achieves Mechanical Completion＊O nsite PPA (Power Purchase Agreement): A system where the power producer(TOYO) installs and maintains solar power generation equipment on the premises of
the customer (Chosei Aoba Farm) at the producer’s expense, and supplies electricity generated by this equipment to the customer

15