SYT - SYLA Solar Signs a Business Alliance Agreement with ABILITY | Benzinga
TOKYO, July 18, 2024 (GLOBE NEWSWIRE) -- SYLA Technologies Co., Ltd. (NASDAQ:SYT) ("SYLA" or "the Company"), operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced that its subsidiary, SYLA Solar Co., Ltd. ("SYLA Solar") has entered into a business alliance agreement ("the Alliance") with ABILITY LTD. ("ABILITY") to launch a joint demonstration experiment for clean energy supply utilizing solar power generation and atmospheric pressure hydrogen cartridges.
The scope of work under the Alliance includes planning, research, development, design, production, and sales operations related to clean energy supply utilizing solar power generation and atmospheric hydrogen cartridges. These activities will be carried out jointly or collaboratively by SYLA Solar and ABILITY.
The project will utilize solar-generated electricity to produce hydrogen, which will then be decomposed into oxygen and hydrogen. The hydrogen will be stored in atmospheric pressure hydrogen cartridges and used to operate a fuel cell (FC) generator. Additionally, the demonstration experiment will commence to explore the utilization of the produced oxygen, as well as the heat and electricity generated by the FC generator.
This joint demonstration experiment aims to promote the efficient use of renewable energy and the expansion of hydrogen energy. SYLA ...