Sumitomo Corporation Invests in Independence Hydrogen for Decentralized Production Projects in the USA
Key Ideas
  • Sumitomo Corporation Group announced a strategic investment in Independence Hydrogen to develop decentralized hydrogen production and distribution projects in the United States.
  • Independence Hydrogen operates in Virginia, recycling hydrogen into fuel cell grade hydrogen for various sectors, emphasizing reliability, cost-efficiency, and speed to market.
  • Sumitomo Corporation's long-term view on hydrogen development aligns with Independence Hydrogen's decentralized business model, unlocking growth in an underserved segment.
  • Independence Hydrogen's collaboration with Sumitomo, Suburban Propane, and Hivers & Strivers aims to accelerate business growth and promote sustainable hydrogen solutions.
Sumitomo Corporation, via its U.S. arm Sumitomo Corporation of Americas, has made a strategic investment in Independence Hydrogen to advance decentralized hydrogen production and distribution initiatives in the United States. Independence Hydrogen, a veteran-founded company based in Petersburg, Virginia, specializes in manufacturing and distributing gaseous hydrogen through a decentralized business model known as DeHy®. By recycling hydrogen that is typically wasted into the atmosphere, Independence Hydrogen produces fuel cell grade hydrogen for clients in various sectors like material handling and industrial gas. The company's focus on decentralized supply and transportation of hydrogen addresses concerns related to reliability and cost, offering a swift market entry. The article expresses Sumitomo Corporation Group's positive outlook on hydrogen development, emphasizing that Independence Hydrogen's business approach can drive growth in an underserved segment. The collaboration between Sumitomo, Suburban Propane, and Hivers & Strivers is seen as crucial for expanding Independence Hydrogen's operations. Independence Hydrogen's CEO, Dat Tran, highlighted the company's eagerness to work with Sumitomo and its investors to accelerate business growth. Sumitomo Corporation, known for its sustainable business practices and extensive experience in the energy sector, aims to leverage this partnership to promote sustainable hydrogen solutions. The investment signals a shared commitment to advancing clean energy solutions and fostering innovation in the hydrogen sector.
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