This partnership is set to enhance the accessibility and reliability of hydrogen as a clean energy source for various sectors.
Sumitomo Corporation, through its U.S. subsidiary Sumitomo Corporation of Americas, announced a pivotal strategic investment in Independence Hydrogen. This collaboration is poised to significantly advance the development of decentralized hydrogen production and distribution projects throughout the United States, marking a crucial step towards a more sustainable energy future.
Independence Hydrogen, a veteran-founded and operated privately held company, is at the forefront of manufacturing and distributing gaseous hydrogen through its innovative decentralized hydrogen (DeHy®) business model. The company currently operates a cutting-edge hydrogen production facility in Petersburg, Virginia, where it employs a unique process of recycling hydrogen that would otherwise be vented into the atmosphere as a waste product. This recycled hydrogen is then transformed into high-quality, fuel cell-grade hydrogen, serving a diverse clientele in the material handling, mobility, remote critical infrastructure, and industrial gas sectors.
The core strength of Independence Hydrogen lies in its initial emphasis on smaller-scale and decentralized hydrogen supply and transportation. This approach directly addresses long-standing concerns regarding reliability and cost within the hydrogen market, while simultaneously offering unparalleled speed to market. Hydrogen, as a versatile fuel, presents numerous advantages across various applications, including extended range, rapid refueling capabilities, and consistent environmental performance without degradation due to low charge.
"Sumitomo Corporation Group maintains a long-term, favorable outlook on hydrogen development," stated Tsutomu Sakamoto, General Manager of Energy Innovation Initiative Americas. "We firmly believe that Independence Hydrogen's distributed business model approach will unlock substantial growth in an underserved market segment. We are confident that our robust collaboration with Suburban Propane and Hivers & Strivers will serve as a cornerstone for further expansion and innovation in this vital sector."
Echoing this sentiment, Dat Tran, CEO of Independence Hydrogen, expressed enthusiasm about the partnership. "Sumitomo has a storied history of sustainable business success and brings deep and broad experience in the energy, and specifically, hydrogen sector," said Tran. "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 and contribute to a greener economy."
This investment underscores Sumitomo Corporation Group's commitment to fostering energy transformation and supporting innovative solutions that contribute to a decarbonized society. By backing Independence Hydrogen's decentralized model, Sumitomo aims to make hydrogen more accessible and economically viable, thereby accelerating its adoption across critical industries.
