World Scope

MUFG Bank has closed its first hydrogen-linked loan agreement with FirstElement Fuel (FEF), California’s largest developer of hydrogen fuel stations, which is funded by institutions such as Mitsui & Co. and the Japan Bank for International Cooperation; this will finance the expansion of FEF’s hydrogen fuel station network. FEF currently operates more than half of California’s hydrogen stations, is one of the world’s largest hydrogen retailers, and has more than 50 large-capacity hydrogen stations under various phases of development in California. By supporting FEF’s expansion of its hydrogen distribution infrastructure, MUFG hopes to gain knowledge about California’s innovative hydrogen business and benefit its stakeholders and society in the United States and Japan in realizing a low-carbon-emission society.