Asahi Kasei Corp., a diversified global company, and U.S.-based Power to Hydrogen (P2H2) have signed a memorandum of understanding (MOU) to evaluate manufacturing scale-up and commercialization of water electrolysis systems that utilize anion exchange membrane (AEM) technology to produce clean hydrogen.

The agreement, announced by Asahi Kasei on November 4, 2026, builds on a joint development effort the two companies are currently engaged in.

Asahi Kasei and P2H2 Explore AEM Electrolysis Commercialization

Under the MOU, the companies will explore how to combine P2H2's expertise in AEM electrolysis with Asahi Kasei's broad capabilities developed across its existing electrolysis businesses within the next few years.

Together, the two companies aim to leverage the results of their joint development and assess pathways toward future manufacturing and commercial deployment of AEM water electrolysis systems.

Why AEM Electrolysis Matters

The hydrogen industry is seeking to reduce production costs, secure material supply, and improve compatibility with the variable output of renewable energy sources. According to the announcement, AEM water electrolysis has emerged as a promising pathway in this context.

The technology combines the use of lower-cost materials and non-critical metals with the operational flexibility needed to support efficient hydrogen production using renewable energy.

Leadership Perspectives

Kenji Takeda, Lead Executive Officer of Asahi Kasei and Head of the company's Green Solution Project, commented on the agreement: "We see this MOU as an important opportunity to explore the commercial potential of next-generation water electrolysis technologies. By bringing together P2H2's expertise in AEM technology and Asahi Kasei's capabilities in manufacturing and commercialization, we will evaluate the challenges and opportunities associated with commercializing AEM water electrolysis technology and support ongoing business growth."

About the Companies

Power to Hydrogen makes industrial-scale electrolyzer systems that produce green hydrogen from renewable electricity. Its AEM platform is designed to deliver dynamic performance using a lower-cost, iridium-free materials pathway that avoids the scarce inputs that have historically constrained electrolyzers at scale.

P2H2's systems are engineered for direct integration with variable renewable power and are designed to scale to repeatable multi-megawatt deployments, with multiple commercial projects underway globally.

Asahi Kasei, founded in 1922 with businesses in ammonia and cellulose fiber, has grown through proactive portfolio transformation and employs 50,000 people worldwide. The company contributes to sustainability across its three business sectors: Healthcare, Homes, and Material.

Hydrogen as a Strategic Growth Driver

Asahi Kasei positions its hydrogen-related business as a future driver of strategic growth. Building on decades of technical expertise and a strong position in chlor-alkali electrolysis, the company has accumulated extensive expertise through large-scale hydrogen demonstration projects.

While continuing to strengthen its established electrolysis technology and business platform, Asahi Kasei is evaluating next-generation water electrolysis technology such as AEM to support long-term market growth beyond 2030.

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