Exxon, Mitsubishi Join Forces For Low-Carbon Hydrogen Project
Portfolio Pulse from Lekha Gupta
Exxon Mobil and Mitsubishi have signed an agreement to collaborate on a low-carbon hydrogen and ammonia project at Exxon's Baytown, Texas facility. The project aims to produce significant amounts of low-carbon hydrogen and ammonia by capturing 98% of CO2. A final investment decision is expected in 2025, with operations starting in 2029. This initiative is part of a broader effort to supply low-carbon energy to industries in Japan.
September 13, 2024 | 11:09 am
News sentiment analysis
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POSITIVE IMPACT
Investors can gain exposure to Exxon Mobil's clean energy initiatives through the EA Series Trust Strive U.S. Energy ETF, which includes XOM.
The DRLL ETF includes Exxon Mobil, which is involved in a promising low-carbon project. This could attract investors looking for clean energy exposure.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The Westwood Salient Enhanced Energy Income ETF offers exposure to Exxon Mobil, which is advancing in the low-carbon energy sector.
WEEI ETF includes Exxon Mobil, which is making strides in low-carbon energy. This could be appealing to investors focused on sustainable energy.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Exxon Mobil's shares are trading higher following the announcement of a partnership with Mitsubishi for a low-carbon hydrogen and ammonia project. This project could position Exxon as a leader in low-carbon energy solutions.
The partnership with Mitsubishi for a large-scale low-carbon hydrogen project is a significant step for Exxon Mobil, potentially enhancing its reputation and market position in the clean energy sector. The positive premarket movement in XOM shares reflects investor optimism.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90