Suburban Propane Partners LP and Iwatani Corporation of America collaborate on opportunities to advance investments in hydrogen infrastructure and transportation services in the US.
In addition to their work on accelerating the market penetration of Propane+rDME, Suburban Propane and Iwatani will also explore investment and development opportunities to expand the distribution network for hydrogen in the US. Iwatani’s parent company is Japan’s only fully integrated supplier of hydrogen, with the largest share of hydrogen production, distribution and hydrogen refuelling stations in Japan. Leveraging its parent company’s expertise, Iwatani has embarked on an ambitious growth program to establish a vertically integrated hydrogen business in the US.
In March 2022, Suburban Propane announced its purchase of a 25% equity stake in Independence Hydrogen, Inc., a veteran-owned and operated developer of a hydrogen ecosystem from production to distribution that will deliver locally-sourced hydrogen to local markets in the US.
Suburban Propane also announced the creation of a new subsidiary, Suburban Renewables, as part of its long-term strategic goal of building out a renewable energy platform and fostering innovative solutions to support the economy-wide transition to a sustainable energy future.
Michael Stivala, President and CEO of Suburban Propane, said, “The collaboration of Iwatani’s market leadership in both the propane and hydrogen markets in Japan partnered with our leadership in the US propane industry and our collective commitment to innovation, we are excited to help accelerate the transition to cleaner energy alternatives.”
Joseph Cappello, Chairman and CEO of Iwatani Corporation of America, said, “As Japan’s leading provider of LPG and hydrogen, we intend to continue to demonstrate our company’s commitment to decarbonisation and providing an array of solutions that accelerate the transition to zero-emission sources of energy across the markets in which we operate.”