MHI Invests in iPEACE223, a Company Developing Clean Fuel Production Technology Using Bioethanol as its Feedstock

Tokyo, June 11, 2025 - Mitsubishi Heavy Industries, Ltd. (MHI) has invested in iPEACE223 Inc., a Tokyo-based start-up company that is developing technology for production of carbon-neutral, clean fuel from bioethanol.

The technology that iPEACE223 is developing utilizes renewable resources, furthering the transition away from dependence on fossil fuels, which emit large volumes of CO₂, and contributing to the realization of a sustainable world. The company aims to stabilize the supply of energy while reducing environmental impacts.

MHI, through investments in various start-up companies, supports the development and dissemination of innovative technologies. Going forward, the Company will continue to accelerate the development of clean energy technologies for the widespread adoption of sustainable energy and the realization of a decarbonized world.

About iPEACE223
iPEACE223 is developing technology that contributes to the reduction of CO₂ emissions in the manufacturing process of propylene (a raw material for chemicals) and propane (fuel), based on technology developed by the firm's representative director, Toru Setoyama. Specifically, the company utilizes zeolite, a porous mineral, as a catalyst to sustainably produce propylene and propane from bioethanol, aiming to achieve carbon neutrality. For more information, see https://ipeace223.com/en/.