Sumitomo Corp. (Tokyo), through its U.S. subsidiary Sumitomo Corporation of Americas, announced a strategic investment in Independence Hydrogen to develop additional decentralized hydrogen production and distribution projects in the United States.
Independence Hydrogen, Inc. is a privately held company that manufactures and distributes gaseous hydrogen in a decentralized hydrogen (DeHy) business model. The company operates a hydrogen production facility in Petersburg, Virginia that recycles hydrogen, otherwise vented into the atmosphere as a waste product, into fuel cell grade hydrogen for customers in the material handling, mobility, remote critical infrastructure, and industrial gas sectors.
Independence Hydrogen focuses on a decentralized hydrogen model (Source: Sumitomo)
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 underserved segment. We are confident that our robust collaboration with Suburban Propane and Hivers & Strivers will serve as a cornerstone for further expansion.”
“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.”