Page 14 - AsiaElec Week 38 2021

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told Reuters. While he stopped short of citing examples, losses narrow as it
The U.N.’s climate change report warned the experimental hydrogen-powered
that global warming was dangerously close Corolla race car unveiled earlier in 2021 continues to develop
to being out of control in what has been illustrates Toyoda’s point. It’s powered by
described as “a death knell for coal and fossil a turbocharged three-cylinder engine that projects in Australia and
fuels”. burns hydrogen — unlike the Mirai, which
is equipped with a hydrogen fuel cell that Pakistan
generates electricity. The prototype has zero
local carbon emissions, just like an EV, but it Oracle Power PLC saw its interim losses
RENEWABLES uses proven and existing technology. Toyota narrow as it continued to focus on developing
is also reportedly developing a diesel-electric its natural resource projects in Australia and
Toyota boss says carbon is hybrid powertrain to put in its bigger cars, like Pakistan.
The AIM-traded developer said its losses
commercial vehicles and SUVs.
the enemy, not the internal in and for Europe could have disastrous shrank to £301,971 for the six months to end
Toyoda added that regulations written
June from £364,300 in the year-earlier period.
combustion engine consequences on the Japanese economy. The company, which has no revenue, ended
the period with cash and cash equivalents of
Japan’s car industry employs about 5.5mn
Toyota boss Akio Toyoda is one of the most people, a figure which represents 10% of the £975,820.
vocal opponents of banning the internal country’s workforce, and it exports about half Oracle is a multi-project company with
combustion engine. He renewed his call of the roughly 10mn cars it builds annually. two gold tenements in Western Australia and
to reconsider the measures announced by His team estimates that the annual production the Thar coal project in Pakistan.
various governments around the world and of battery- and hydrogen-powered cars will “Whilst global conditions remain
warned that bans could indirectly cause not reach the two-million mark by 2030, uncertain, Oracle’s projects in Pakistan and
unemployment in Japan. meaning Japan would be left with about 8mn Australia are focused on the development
“Carbon is our enemy, not the internal cars that it won’t be able to export to markets of assets which provide a hedge against
combustion engine,” he said during a Japan where the internal combustion engine will be economic insecurity,” said chief executive
Automobile Manufacturer’s Association banned, either directly or indirectly through Naheed Memon.
(JAMA) press conference. He’s the group’s strict regulations. In turn, this could cause “In Pakistan, Oracle has established
chairman. He pointed out Japan’s car industry Japan to lose “a vast majority” of industry jobs. a recognisable capacity and operational
has cut its CO2 emissions by 23% over the “I would like policy makers to understand bandwidth, and considers it to be a prime
past 20 years, largely with hybrid technology this point when addressing the environmental jurisdiction for diversification and expansion,
like the system Toyota pioneered before a vast issue,” he stressed. especially in the power and energy sector.”
majority of its domestic and international
rivals. In his view, the industry needs to
“leverage the technological advantages that
we have built up and take immediate steps INVESTMENT RENEWBLES
to maximise CO2 reductions using the
electrified vehicles we have now,” a strategy Oracle Power’s interim Thai oil major PTT launches
which would free up resources to develop
solutions for other carbon-emitting industries.

P14 www. NEWSBASE .com Week 38 22•September•2022