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Mitsubishi Corp and UBE Industries Develop World’s First CDM Project to Reduce Nitrous Oxide; Gain Final CDM Registration from UN


| Sourced From Japancorp.ne |

Tokyo, June 29, 2009 – (JCN Newswire) – Ube Industries, Ltd. (UBE) and Mitsubishi Corporation (MC) have been jointly developing a project to reduce nitrous oxide (N2O) in Thailand. Approvals from the Japanese and Thai governments were received on August 2, 2007 and February 27, 2008 respectively. After more than two years since talks began on commercializing the project, it was finally registered by the United Nations (UN) on Jun 16, 2009.

This CDM(1) project, which reduces N2O in the production process of caprolactam(2) (a raw material used to make nylon 6(3)) is being undertaken at a plant of Thai Caprolactam Public Co., Ltd. (TCL), an UBE subsidiary in Thailand. This is the world’s first such project to be registered by the UN, and UBE’s first CDM registered project. It is the 30th UN-registered CDM project for MC.

N2O is a greenhouse gas formed as a by-product at caprolactam plants. It is a contributor to global warming.

The aim of this project is to reduce the amount of N2O in emissions released during the production of caprolactam by adding the catalytic abatement plant and gain approximately 530,000 tons in Certified Emission Reduction (CER) credits (CO2 equivalent) by the end of 2012.

UBE and TCL utilize the N2O abatement plant of Japanese technologies. By reducing the N2O and monitoring the N2O abatement, the companies are contributing to sustainable development of earth and helping to prevent global warming. TCL will continues to show due consideration to the local population in carrying out their business and promote safe operations to reduce N20 alongside the production of caprolactam.

Leveraging its experience, MC helped take this project to its operational stage. The trading company worked with TCL to conduct feasibility studies, handled the relevant application procedures for UN registration, and promoted efforts to gain UN approval. MC also offered its full support to TCL in gaining the necessary financing to bring in equipment, including the complete range of infrastructure at the N20 abatement plant, and the measuring instruments used to monitor operations. Meanwhile, MC plans to sell the emission reduction credits obtained through this project to companies aiming to meet their own emission requirements.

(1) The Clean Development Mechanism (CDM):
An arrangement to reduce greenhouse gases under the Kyoto Protocol (which was established in 1997 to prevent global warming). For instance, if Japanese companies with obligations to cut greenhouse gas can help to reduce the emissions in the other developing countries like Thailand following the CDM rules, these companies can receive CER credits from the UN CDM Executive Board.
(2) Caprolactam
Raw material used to make nylon 6 fiber and nylon 6 resin.
(3) Nylon 6
Nylon used primarily in textiles and engineering plastics. Some common uses include stockings, plastic film for food packaging, fishing nets, and auto parts.

About Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058; ADR: MSBHY) is Japan’s largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, Mitsubishi Corporation employs a multinational workforce approximately 55,000 people. The Group has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise. Mitsubishi Corporation’s commitment to social responsibility is embodied in its corporate philosophy and demonstrated through its extensive programme of cultural, environmental and educational projects worldwide. For more information, please visit www.mitsubishicorp.com .

Contact:

Gyo Katsuta
Press Relations Team
Corporate Communications Dept.
Mitsubishi Corporation
Phone: +81-3-3210-2172
Fax: +81-3-5252-7705
E-mail: gyo.katsuta@mitsubishicorp.com

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