Sumitomo Corporation of Americas Announces Strategic Investment in Independence Hydrogen to Develop Hydrogen Production and Distribution Projects
Sumitomo Corporation (TYO: SSUMY) has announced a strategic investment in Independence Hydrogen, a veteran-founded company specializing in decentralized hydrogen production and distribution in the United States. Independence Hydrogen operates a facility in Petersburg, Virginia that recycles waste hydrogen into fuel cell grade hydrogen for various sectors.
The partnership aims to expand Independence Hydrogen's DeHy庐 business model, which focuses on smaller-scale, decentralized hydrogen supply and transportation to address reliability and cost concerns. The collaboration includes foundation investors Suburban Propane and Hivers & Strivers, with the latter having invested over $80 million in veteran-led ventures since 2009.
Sumitomo Corporation (TYO: SSUMY) ha annunciato un investimento strategico in Independence Hydrogen, un'azienda fondata da veterani specializzata nella produzione e distribuzione decentralizzata di idrogeno negli Stati Uniti. Independence Hydrogen gestisce un impianto a Petersburg, Virginia, che ricicla l'idrogeno di scarto trasformandolo in idrogeno di qualit脿 per celle a combustibile destinato a diversi settori.
La partnership punta ad espandere il modello di business DeHy庐 di Independence Hydrogen, che si concentra su una fornitura e trasporto di idrogeno su scala ridotta e decentralizzata per affrontare problemi di affidabilit脿 e costi. La collaborazione include gli investitori fondatori Suburban Propane e Hivers & Strivers, quest'ultimo ha investito oltre 80 milioni di dollari in imprese guidate da veterani dal 2009.
Sumitomo Corporation (TYO: SSUMY) ha anunciado una inversi贸n estrat茅gica en Independence Hydrogen, una empresa fundada por veteranos que se especializa en la producci贸n y distribuci贸n descentralizada de hidr贸geno en Estados Unidos. Independence Hydrogen opera una planta en Petersburg, Virginia, que recicla hidr贸geno residual para convertirlo en hidr贸geno de calidad para pilas de combustible, destinado a diversos sectores.
La asociaci贸n tiene como objetivo expandir el modelo de negocio DeHy庐 de Independence Hydrogen, que se centra en el suministro y transporte de hidr贸geno a peque帽a escala y descentralizado para abordar problemas de fiabilidad y costos. La colaboraci贸n incluye a los inversores fundadores Suburban Propane y Hivers & Strivers, siendo este 煤ltimo quien ha invertido m谩s de 80 millones de d贸lares en empresas lideradas por veteranos desde 2009.
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Sumitomo Corporation (TYO : SSUMY) a annonc茅 un investissement strat茅gique dans Independence Hydrogen, une entreprise fond茅e par des v茅t茅rans sp茅cialis茅e dans la production et la distribution d茅centralis茅es d'hydrog猫ne aux 脡tats-Unis. Independence Hydrogen exploite une installation 脿 Petersburg, en Virginie, qui recycle l'hydrog猫ne r茅siduel en hydrog猫ne de qualit茅 pour piles 脿 combustible destin茅 脿 divers secteurs.
Le partenariat vise 脿 茅tendre le mod猫le commercial DeHy庐 d'Independence Hydrogen, ax茅 sur une fourniture et un transport d'hydrog猫ne d茅centralis茅s 脿 plus petite 茅chelle afin de r茅pondre aux probl茅matiques de fiabilit茅 et de co没ts. La collaboration inclut les investisseurs fondateurs Suburban Propane et Hivers & Strivers, ce dernier ayant investi plus de 80 millions de dollars dans des entreprises dirig茅es par des v茅t茅rans depuis 2009.
Sumitomo Corporation (TYO: SSUMY) hat eine strategische Investition in Independence Hydrogen angek眉ndigt, ein von Veteranen gegr眉ndetes Unternehmen, das sich auf die dezentrale Produktion und Verteilung von Wasserstoff in den USA spezialisiert hat. Independence Hydrogen betreibt eine Anlage in Petersburg, Virginia, die Abfallwasserstoff in Brennstoffzellen-Qualit盲t recycelt und f眉r verschiedene Branchen bereitstellt.
Die Partnerschaft zielt darauf ab, das DeHy庐 Gesch盲ftsmodell von Independence Hydrogen zu erweitern, das sich auf kleinere, dezentrale Wasserstoffversorgung und -transport konzentriert, um Zuverl盲ssigkeits- und Kostenprobleme zu adressieren. Zu den Gr眉ndungsinvestoren geh枚ren Suburban Propane und Hivers & Strivers, wobei Letztere seit 2009 眉ber 80 Millionen US-Dollar in von Veteranen gef眉hrte Unternehmen investiert haben.
- Strategic entry into the growing hydrogen fuel market through decentralized production model
- Partnership leverages Independence Hydrogen's existing operational facility and recycling capabilities
- Alignment with established partners Suburban Propane and Hivers & Strivers for market expansion
- Early-stage investment in an emerging market with uncertain demand
- Potential competition from larger-scale hydrogen production facilities
Independence Hydrogen, Inc. is a veteran-founded and operated, privately held company that manufactures and distributes gaseous hydrogen in a decentralized hydrogen (DeHy庐) business model. The company operates a hydrogen production facility in
Independence Hydrogen's initial focus on smaller scale and decentralized hydrogen supply and transportation solves reliability and cost concerns, while offering speed to market. Hydrogen as a fuel has advantages in many applications, allowing for longer range, quick refueling, and no low-charge or environmental performance degradation.
"Sumitomo Corporation Group has a long-term favorable view of hydrogen development", said Tsutomu Sakamoto, General Manager of Energy Innovation Initiative Americas. "We strongly believe that Independence Hydrogen's distributed business model approach will unlock growth in an聽underserved segment.听We are confident that our robust collaboration with Suburban Propane and Hivers & Strivers serve as a cornerstone for further expansion."聽
"Sumitomo has a storied history of sustainable business success, and brings deep and broad experience in the energy, and specifically, hydrogen sector," said Dat Tran, CEO of Independence Hydrogen. "We are extremely excited to work with Sumitomo, along with the expertise and support of our foundation investors, Suburban Propane and Hivers & Strivers, to accelerate the growth of our business."聽
About Sumitomo Corporation
Sumitomo Corporation (TYO: 8053) is an integrated trading company with a global network of 127 offices in 63聽countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group's business activities span nine sectors: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions, and Energy Transformation Business. Sumitomo Corporation is dedicated to creating value for society under the corporate message of "Enriching lives and the world," based on Sumitomo's business philosophy passed down for over 400 years.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in
About Independence Hydrogen
Independence Hydrogen regionally produces and distributes clean gaseous hydrogen in
About Suburban Propane
Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in
About Hivers & Strivers
Hivers & Strivers invests in early-stage ventures led by
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FAQ
What is the strategic investment between Sumitomo Corporation (SSUMY) and Independence Hydrogen?
How does Independence Hydrogen's DeHy庐 business model work?
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