JH2F was established by 15 Japan-affiliated companies with H₂-related operations in the U.S. to support the decarbonization goals of the U.S. Activities are performed in five sectoral subcommittees for H₂ production, land transportation, port decarbonization, power generation and finance, supported by the Japanese government and affiliated governmental organizations such as the Japan External Trade Organization (JETRO), New Energy and Industrial Technology Development Organization (NEDO), Japan Organization for Metals and Energy Security (JOGMEC), and Nippon Export and Investment Insurance (NEXI).

H₂-related business is one of Asahi Kasei's "10 Growth Gears" (GG10), businesses to lead the next phase of growth in fields of focus as part of its medium-term management plan for fiscal year 2024 focused on the theme “Be a Trailblazer.” Asahi Kasei is currently advancing its H₂-related business centered on the alkaline water electrolysis system for H₂ production developed utilizing its experience and expertise gained with the membrane process for chlor-alkali electrolysis.

Asahi Kasei installed a large 10 MW-scale alkaline water electrolysis system at the Fukushima H₂ Energy Research Field (FH2R) as part of a NEDO project, and performed several trial operations since 2020. Based on the technological achievements obtained at FH2R, Asahi Kasei plans to commercialize a larger-scale alkaline water electrolysis system comprising multiple 10-MW modules through various trial operations in the ongoing NEDO/Green Innovation Fund demonstration project of green H₂ production by alkaline water electrolysis system, which was awarded in 2021.

Through the activities in Japan H₂ Forum, Asahi Kasei will contribute to the establishment of H₂ society together with various governmental and non-governmental organizations and corporations related to the H₂ value chain in the U.S. by promoting collaboration and making proposals. Asahi Kasei will also build business in the U.S. for large-scale alkaline water electrolysis systems and their after-sales and technical services by leveraging the relationships gained across the value chain.