[FOR PRESS RELEASE] MoU for Joint Study on Green Steam Supply Business in Vietnam

FOR PRESS RELEASE

Phuc Sang Minh Trade Engineering Services Joint Stock Company, erex Co., Ltd., and Toho Gas Co., Ltd. Sign Memorandum of Understanding for Joint Study on Green Steam Supply Business in Vietnam

Ho Chi Minh City, Vietnam – August 22, 2025 – Phuc Sang Minh Trade Engineering Services Joint Stock Company (Head Office: Ho Chi Minh City, Vietnam; CEO: Vo Phuong Trinh; hereinafter “PSE”) is pleased to announce the signing of a Memorandum of Understanding (MOU) with erex Co., Ltd. (Head Office: Chuo-ku, Tokyo, Japan; CEO: Hitoshi Honna; hereinafter “erex”) and Toho Gas Co., Ltd. (Head Office: Atsuta-ku, Nagoya, Japan; CEO: Satoshi Yamasaki; hereinafter “Toho Gas”) for a joint study on a green steam supply business in Vietnam.

1. Background and Purpose of the MOU

As Vietnam’s economy grows, so does its energy demand, particularly the need for decarbonization in the manufacturing sector. In this context, the importance of green steam supply using woody biomass resources is being recognized as a key step towards achieving a sustainable society.

erex has extensive experience and expertise in renewable energy supply, with a track record of producing fuel and generating power from woody biomass in Japan and Southeast Asian countries, including Vietnam. Toho Gas has leveraged its experience in promoting natural gas use in the Tokai region to support decarbonization efforts for Japanese manufacturers in Vietnam through its investment in PSE. PSE, for its part, has been working to reduce carbon emissions in the industrial sector by providing engineering services and supplying natural gas in Vietnam.

This MOU was signed to capitalize on the strengths of all three companies and jointly study the implementation of a green steam supply business that can contribute to reducing CO2 emissions in Vietnam’s industrial sector.

2. Outlook

Moving forward, the three companies will conduct a joint feasibility study (FS) for a green steam supply business in Vietnam and proceed with a business feasibility study to establish an efficient and sustainable business model. The study will comprehensively examine the business from various perspectives, including technical feasibility, economic viability, legal regulations, and demand forecasting. The realization of this project is expected to accelerate decarbonization in Vietnam’s industrial sector and contribute to a stable energy supply.

Through this joint study, erex, Toho Gas, and PSE are committed to contributing to the sustainable development of Vietnam.

Company Overviews

1. About erex Co., Ltd.

Founded in 1999, erex is a Japanese renewable energy company headquartered in Tokyo. The company integrates four core businesses: fuel, power generation, trading, and electricity retail, with a particular focus on biomass power generation. erex is expanding its renewable energy business globally, including manufacturing wood pellets and developing biomass power plants overseas. In March of this year, erex began manufacturing certified wood pellets at its factory in former Tuyen Quang Province (now Lao Cai Province), Northern Vietnam. In April, erex started operations at  Hau Giang Biomass Power Plant, Vietnam’s first commercial biomass power plant, which uses rice husks as fuel. Through these ventures, erex contributes to decarbonization in both Japan and Vietnam.

2. About Toho Gas Co., Ltd. and PSE

Toho Gas is a comprehensive energy company headquartered in Nagoya, which invested in PSE in 2023. PSE, headquartered in Ho Chi Minh City, Vietnam, is an industrial natural gas sales company. Since its founding in 2006, PSE has established a solid position in the Vietnamese natural gas sector, leveraging its strengths in providing experienced engineering services and stable energy supply.

erex, Toho Gas, and PSE are dedicated to providing a wide range of solutions to meet the low-carbon and decarbonization needs of the industrial sector and contributing to the sustainable development of Vietnam’s industries.

Contact:

PSE Business Development Team

TEL: (+84) 94 880 8839 / (+84) 94 1234 456

E-mail: sales@jpsgas.com.vn

Website: https://jpsgas.com.vn/