01:34 PM EDT, 03/25/2024 (MT Newswires) -- Exxon Mobil ( XOM ) and Japan's JERA plan to explore the development of a low-carbon hydrogen and ammonia production project in the US.

JERA said Monday it will explore taking a stake in Exxon's low-carbon hydrogen production plant in Texas, which is currently under development, and procuring about 500,000 metric tons of low-carbon ammonia annually for demand in Japan.

Exxon's plant is expected to have annual production capacity of about 900,000 tons of low-carbon hydrogen and 1 million tons of low-carbon ammonia, with production estimated to begin in 2028, JERA said.

Shares of Exxon rose 1.2% in recent trading.

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