ENEOS group is an energy and materials conglomerate company consisting of petroleum refining and sales, oil and gas exploration, and metals, with its headquarters located in Tokyo. It holds approximately a 50% market share in Japanese fuel oil sales and owns around 12,000 gas stations. ENEOS group aims to achieve Scope 1 and 2 carbon neutrality by 2040 and has developed a Carbon Neutrality Plan. The plan aims to promote the reduction of greenhouse gas emissions through the optimization of manufacturing and business operations, as well as through the absorption of CO2 through CCS (Carbon Dioxide Capture and Storage) and forests, with the ultimate goal of realizing a carbon-neutral society.
ENEOS group is actively collaborating with the Japanese government and other businesses striving for carbon neutrality and is preparing to initiate Japan’s first large-scale CCS (Carbon Dioxide Capture and Storage) project in FY 2030. Specifically, they have participated in multiple CCS/CCUS projects, including one in Texas and have a proven track record.
As part of its efforts in the energy transition, ENEOS group is committed to renewable energy initiatives such as the construction of mega-solar and biomass power plants utilizing its own idle land, as well as large-scale mergers and acquisitions (M&A) in the renewable energy sector. ENEOS group has achieved a total renewable energy generation capacity of approximately 1.23 million kW. Additionally, ENEOS group is also dedicated to promoting the adoption of hydrogen fuel, owning 30% of Japan’s hydrogen stations. Moreover, with an eye toward a society with substantial hydrogen consumption, ENEOS group aims to establish a CO2-free hydrogen supply chain through the import of CO2-free hydrogen. Additionally, ENEOS group has initiated the development of synthetic fuels using CO2 captured from industrial emissions and the atmosphere, as well as hydrogen derived from renewable energy. Another major scope of new business is the commercialization of Sustainable Aviation Fuel (SAF) production utilizing Japan’s oil refinery facilities.
In terms of materials, ENEOS group is providing the mobility industry with tire materials known for their industry-leading performance and low environmental impact. Another key aspect is the involvement to chemical recycling, which converts waste plastics into oil.
Through the initiatives mentioned above, ENEOS group is actively advancing its efforts toward carbon neutrality.
Engaging with the Greentown Community
ENEOS Holdings, the holding company of ENEOS group, has ENEOS Innovation Partners under its CVC (Corporate Venture Capital) umbrella. The primary objective of ENEOS Innovation Partners is to find collaborators who will work alongside ENEOS group in the pursuit of building a decarbonized society. ENEOS group, with its extensive network and assets including approximately 12,000 gas stations as mentioned above, can offer not only financial assistance but also valuable support for business expansion within Japan.
To date, ENEOS Innovation Partners has invested in startups with expertise in shared mobility, battery technology, untapped energy sources, carbon accounting, hydrogen production, and CCS, while providing support for business development. The total investment amount is 15.7 billion yen (approximately 100 million dollars) as of August 2023. The focus areas of ENEOS Innovation Partners include decarbonization, circular economy, urban development, mobility, data science, and advanced technology. Moving forward, ENEOS Innovation Partners plans to collaborate with startups in these areas.
ENEOS group actively works with members of the Greentown Community to seek opportunities for cooperation and partnerships.