Economy Minister welcomes significant investment in Wales by Panasonic
Global electronics company, Panasonic, has today cemented its ongoing commitment to Wales by announcing an up to £20 million investment in its facility in Cardiff.
The firm has earmarked the Welsh capital to roll out a state-of-the-art net-zero power system as part of its ambition to use the site as a centre of excellence for green technologies within the UK.
Panasonic’s self-sustaining system makes use of hydrogen fuel cell generators, photovoltaic generators, and storage batteries and will strengthen Panasonic as a key supplier in assisting customers achieve net zero.
The technology is currently only in-use at another of the firm’s facilities in Japan and will turn Cardiff, which employs around 400 people, into another pilot site.
Minister for the Economy, Vaughan Gething said:
I’m delighted Panasonic continue to invest in Wales and our shared ambitions for strong economic growth.
I want to extend my sincere thanks to Panasonic for cementing their ongoing commitment to the workforce in Cardiff and to the wider Welsh economy. Not only are they bringing innovative, groundbreaking technology to the Welsh capital but also supporting the Welsh Government’s journey to net zero by 2050.
Meeting those targets requires active industrial policy and a commitment to continue to work with our partners, like Panasonic, to develop and deliver the technologies, infrastructure and projects that bring about a stronger, fairer, and greener Wales.
For decades, Wales has invested in strong partnerships with Japanese businesses and this latest investment symbolises a strong partnership with Japanese businesses that goes beyond business interests.
Mr Masahiro Shinada, President and CEO of Panasonic Corporation said:
The commitment Wales has shown to cutting carbon emissions and safeguarding the environment for future generations makes it the ideal location for Panasonic’s first deployment of RE100 outside of Japan. We are proud to be working together with Wales towards a green future.
Panasonic will engage with local higher education institutions while developing the project, and the first phase is expected to be operational by 2024.
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