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Mitsubishi Hitachi Power Systems, Ltd. (MHPS) President and CEO Ken Kawai delivered an address to employees to mark the commencement of the new year. The following is a summary of the main points of his remarks.
"In the nine months since I became President and CEO last April, I have met and spoken directly with many of our customers and business partners, both here in Japan and overseas. Through these communications, I have learned high expectations toward MHPS success remain high, and that our business environment is changing every moment. All around the world, awareness toward reducing CO2 emissions is increasing sharply, and we must respond to those needs.
This year, a prime focus will be on developing business toward achieving decarbonization.
Worldwide, interest in decarbonization is growing, as illustrated at the COP25 meetings convened last year. We view these times as a business opportunity, and we aim to be a global leader in addressing decarbonization. Last year, orders for GTCC [gas turbine combined cycle] installations were strong, and this year we expect further growth. In the area of steam power, we will actively work to improve the performance of existing boilers, push for fuel conversion including biomass and ammonia co-firing, and promote replacements to GTCC and IGCC [integrated coal gasification combined cycle] systems, thereby contributing to reducing CO2 emissions. Furthermore, we will make great use of MHI's technologies and resources, to accelerate business potential in hydrogen firing and CCUS [carbon capture, utilization, and storage].
These new business developments cannot be achieved using the same methods as before. The roles of each business segment must be clarified, more segments must cooperate together, and new challenges must be addressed. Late last year, our two parent companies reached a settlement concerning the project in South Africa. Making use of the technological and cultural synergies of MHI and Hitachi built up over some 6 years, let us move forward and grow our business, all members of the MHPS Group working together.