Recent News
SCOA Investment in Vast Medical Holdings; Marks Entry into U.S. Healthcare Market with Goals to Improve Patient Outcome
New York, N.Y. & Coral Springs, Fla. – July 17, 2024 – Sumitomo Corporation, through its U.S. subsidiary Sumitomo Corporation of Americas (SCOA), announced an investment in Vast Medical Holdings, which owns Quest Health Solutions (Quest). This transaction marks Sumitomo Corporation Group’s entry into the U.S. healthcare market and represents a strategic move to enhance interventions and manage the needs of chronic-care patients.
Freeport LNG and SCOA Sign Heads of Agreement for Liquefaction Tolling Services
Under the Heads of Agreement, SCOA has agreed to negotiate for a 20-year liquefaction tolling agreement (TLA).
Michelin and Sumitomo Corporation to Create Second-Largest Wholesale Player in the U.S. and Mexico
For additional information on the JV, visit www.drivingmobilityforward.com
Sumitomo Corporation Acquires Tight Oil Producing Asset in Eagle Ford
Sumitomo Corporation is pleased to announce that its subsidiary company, Summit Discovery Resources II LLC has reached an agreement with IOG Gonzales 1835 LLC, an entity managed by IOG Capital, LP, Covington Equity Investments LLC and 1836 Resources, LLC to acquire certain producing Eagle Ford properties in South Texas.
Sumitomo Corporation Group Announces Partnership with TruTag Technologies
Sumitomo Corporation of Americas ("SCOA") and Sumitomo Corporation (together "Sumitomo Corporation Group"), an integrated global trading and investment enterprise, is pleased to announce its investment in TruTag Technologies ("TruTag") through the Presidio Ventures SCOA Fund, LLC, Sumitomo's platform for investing in startups. TruTag is the first investment made through the Presidio Ventures SCOA Fund.
TruTag is the world leader for precision fabrication of nano-porous silica, advanced mobile hyperspectral imaging, and data management to provide a complete product identity and supply chain security solution to improve the safety, traceability, and authenticity of branded products across broad industries. Applications include edible on-product identity solutions for food and medicine; and secure labels and documents for businesses and governments. In addition, TruTag's advanced spectral and spatial imaging products are expanding into agricultural management, smart farming, machine vision, biomedical imaging and point-of-care diagnostics.
"Sumitomo Corporation of Americas is excited to partner with TruTag and their impressive technology platform," said Tom Wada, General Manager of Sumitomo Corporation of Americas' Silicon Valley office. "We are confident that our deep-rooted relationships and existing partnerships across numerous industries will provide TruTag tremendous expansion, while deeply enhancing security and traceability throughout the supply chain of these networks."
TruTag Technologies and Sumitomo will collaborate to bring TruTag's technology platform to diverse markets and industries where Sumitomo has deep business experience and relationships across the world. The partnership will adapt TruTag's technology platform for product identity, traceability, and supply chain management of various Sumitomo divisions worldwide.
"We are looking forward to collaborating with Sumitomo Corporation of Americas to build a globally-focused and comprehensive product identity partnership that will have a tremendous impact on Sumitomo's existing markets as well as drive successful expansion of TruTag's technology platform into exciting new industries. We are excited to work with a company of Sumitomo's caliber and to mutually provide an industry-leading product identity platform across diverse markets with significant real-world impact to brand protection, product traceability, and consumer safety," said Michael Bartholomeusz, Chief Executive Officer of TruTag Technologies.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has nine offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world's leading traders of goods and services. As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide. Its core business units include Tubular Products, Environment and Infrastructure, Steel and Non-Ferrous Metals, Transportation and Construction Systems, Chemicals and Electronics, Media and IOT Applications, Real Estate, Mineral Resources and Energy, and Food. For more information, visit www.sumitomocorpofamericas.com.
About the Presidio Ventures SCOA Fund, LLC
Founded in 1998, Presidio Ventures is the wholly-owned early-stage investment vehicle for Sumitomo Corporation Group. Through Presidio Ventures, Sumitomo Corporation and Sumitomo Corporation of Americas invest in new and innovative technology companies to grow their products and services and create potentially new business models or partnerships with existing businesses. In April of 2017, Sumitomo Corporations of Americas opened an office in Silicon Valley to work in lockstep with Presidio, harnessing their decades of expertise and human networks to permeate the VC community within the Valley. From this partnership came the Presidio Ventures SCOA Fund, LLC, an investment vehicle established in July of 2017, which allows the partnership to make quick decisions and accelerate new business creation, as well as strengthen, streamline and expand existing businesses.
About TruTag Technologies
TruTag Technologies, Inc. is a leading security and technology solution provider serving businesses and governments around the world. TruTag has the most advanced precision-fabricated, cGMP nano-porous silica manufacturing operation in the world for a variety of applications and security solutions, including product identity for food, medicine, secure labels and documents. The company's highly-specialized nano-porous silica particles extend to precision drug delivery systems for the biopharmaceutical industry. TruTag's nano-fabrication technology platform is complemented by its advanced hyperspectral imaging solutions, which can be applied to a broad array of market applications from medical diagnostics to machine vision.
TruTag Technologies has been recognized by the SPIE Prism Awards, Frost & Sullivan, the Edison Awards, Fast Company, and R&D 100, and was selected a Technology Pioneer by the World Economic Forum as one of the most influential technology companies in the world. Learn more at www.TruTags.com.
Sumitomo Corporation Acquires 65% Stake in Agro Amazonia Produtos Agropecuarios in Mato Grosso
New York, NY – February 2nd, 2015 -- Sumitomo Corporation (“Sumitomo”) and Agro Amazonia Produtos Agropecuários Ltda (“Agro Amazonia”) announced their agreement to have Sumitomo acquire a 65 percent share of Agro Amazonia, a distributor of farm and livestock supply located in the State of Mato Grosso, the largest granary and producer of soybean, cotton, maize, sunflower and beef cattle in Brasil..
Sumitomo Corporation Enters North American Railcar Axle Machining Business
New York, New York – April 5, 2016 – Sumitomo Corporation together with Sumitomo Corporation of Americas (collectively referred to as “the Sumitomo Corporation Group”) have entered into a 50/50 joint venture agreement with Greenbrier Rail Services (“GRS”), the railcar wheel and axle maintenance unit of The Greenbrier Companies, a leading supplier of transportation equipment and services to the railroad industry.
Nippon Sharyo USA and Sumitomo Corporation of Americas Achieve One Thousand Passenger Rail Car Mark
ROCHELLE, ILLINOIS, April 27th, 2015—On March 17th, 2015, Sumitomo Corporation of Americas (SCOA) and Nippon Sharyo USA (Nippon Sharyo) celebrated contract fulfillment for manufacturing 1000 rail cars for public transit agency customers throughout North America. In recognition of this momentous milestone, the partnership hosted a special ceremony with guest speakers, customers and employees at its Rochelle, Illinois facility.
Sumitomo and TouGas Oilfield Solutions announce Strategic Partnership and Investment
TouGas Oilfield Solutions announced today that SUMITOMO DEUTSCHLAND GMBH, a wholly owned subsidiary of its ultimate parent company Sumitomo Corporation, has finalized a strategic partnership and investment agreement with TouGas.
World’s First Large-Scale Power Storage System Made From Reused EV Batteries Completed in Japan
Tokyo, Japan – February 7, 2014 – Sumitomo Corporation has developed and installed the world’s first large-scale power storage system which utilizes used batteries collected from electric vehicles.
Sumitomo Corporation of Americas Purchases SPS Tower in Downtown Minneapolis
Minneapolis, Minnesota – February 6, 2019 – Sumitomo Corporation of Americas (SCOA) announced today their purchase of SPS Tower, a 31-story LEED certified office building in the heart of Minneapolis’ commercial business district (CBD). The building boasts an 84% occupancy level throughout its 655,070 square feet of rentable space.
Anchored by major tenants SPS Commerce, Inc. and Accenture, LLP, SPS Tower is connected to three adjacent buildings via a pedestrian skyway and just a few minutes’ walk to the city’s LRT and bus lines. Additionally, the building sits atop a four-level underground parking garage made up of 630 spaces with easy access to major highways. Recently renovated, the property’s amenities include a conference center, fitness center, shipping and mail services, food services and car washing and detailing.
We are very pleased to have completed this deal and gain ownership of SPS Tower. This is our first real estate investment in Minneapolis and we believe the expertise we’ve cultivated throughout our several years within the U.S. real estate market will allow us to bring insights and improvements related to building management and tenant relationships. We look forward to providing a high-quality office environment for the tenants of Minneapolis,” said Yurika Sugimoto, Real Estate Manager in the Commercial Real Estate Unit at Sumitomo Corporation of Americas.
Minneapolis is an economic powerhouse in the northern Midwest region of the U.S. with a population of 3.6 million people. The city is home to a large number of Fortune 500 companies, including Target, Best Buy and 3M. The CBD’s large office rental submarket paired with the highest average rent in the city makes this area an optimal investment opportunity. ###
Presidio Ventures Makes Strategic Investment in Lilac Solutions
Presidio Ventures, a SCOA Group Company, has joined a Series B funding round for Lilac Solutions, Inc., a lithium extraction technology company headquartered in Oakland, CA. Lilac will use the funds from this round to continue expansion of its global team, build a dedicated factory in the United States to produce the company’s unique ion-exchange beads, and deploy Lilac’s lithium extraction technology at multiple projects throughout the United States, South America, and Europe.
SCOA Makes Strategic Investment in Hydrogen Fuel Provider OneH2
SCOA announced today its investment in OneH2, a hydrogen fuel company headquartered in Longview, North Carolina. SCOA’s investment will help the company deploy full turnkey hydrogen solutions, creating a national fuel production and distribution network to serve transportation markets at a competitive price.
OneH2 is a hydrogen production and distribution company providing fuel primarily for forklifts nationwide. The company delivers hydrogen fuel that is ready for immediate use, already converted to high-pressure gaseous fuel that takes only minutes to dispense. Their solution is both mobile and scalable.
The new growth capital provided by SCOA and other investors will be used to provide modular hydrogen production units, storage and dispensing at the point of refueling, which is often on-site at logistics and distribution centers to provide fuel for forklift and truck fleets. Looking ahead, the company sees significant opportunity working with retail points of sale such as truck service centers and gas stations as adoption of hydrogen for truck and passenger vehicle fleets continues to build. The ultimate goal is that the modular units combined with the company’s investments in fuel production hubs will form an efficient and highly scalable hydrogen fuel network.
“We are thrilled to announce our participation in OneH2’s effort to provide solutions in the emerging hydrogen fuel space,” said Kazuki Yamaguchi, Senior Vice President and General Manager, Energy Group, Sumitomo Corporation of Americas. “Globally, Sumitomo Corporation is engaged in several hydrogen projects and we look forward to drawing on our experience and collaborating with OneH2. We believe that innovations in the hydrogen value chain are necessary for hydrogen to become a widely used fuel source, and the ecosystem OneH2 is creating will help propel those innovations into the market.”
SCOA is an avid investor in hydrogen technology and OneH2 marks the company’s first foray into the commercial hydrogen space. With its integrated global network, ties to emerging technologies and longstanding relationships throughout the transportation market, SCOA is well positioned to help OneH2 achieve its growth goals. Furthermore, this investment aligns with SCOA’s company values and is a strategic move by SCOA to aid in building a more sustainable society.
###
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has eight offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. As an integrated business enterprise, the firm has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for distribution of products and global communications through a network of offices worldwide. Its core business units include Tubular Products, Environment and Infrastructure, Steel and Non Ferrous Metals, Transportation and Construction Systems, Chemicals and Electronics, Media and IOT Applications, Real Estate, Mineral Resources and Energy, and Food. For more information, visit www.sumitomocorp.com.
About OneH2
OneH2, Inc., headquartered in Longview, North Carolina, is a privately held, vertically integrated hydrogen fuel company. OneH2 is emerging as a leader in providing scalable hydrogen fuel systems coupled with cost effective delivered hydrogen fuel for use in transportation markets. For more information about OneH2, Inc. visit the Company's website at www.oneh2.com.
SCOA Signs Sales Agreement to Market EcoVAP’s Groundbreaking Wastewater Solutions
SCOA has signed a non-exclusive sales agreement with EcoVAP, Inc. a leader in advanced water reduction solutions for agricultural, municipal, and industrial users. EcoVAP’s patented and patent-pending water technologies provide both environmentally friendly and cost-effective alternatives to conventional water elimination and recovery practices; Sumitomo Corporation of Americas will introduce the company’s industrial water elimination technology to its diverse global network.
Closing of Asset Sale in Marcellus Shale Project
Closing of Asset Sale in Marcellus Shale Projectubsidiary in U.S.A., Summit Discovery Resources LLC (SDR), participated in the Project on September 2010.
Project Overview
Location： Butler County, Pennsylvania in U.S.A., etc.
Operator： PennEnergy Resources, LLC
SDR Net Working Interest ： ~ 30％
Outline of SDR
Company name： Summit Discovery Resources LLC
Head Office: Houston, Texas, in U.S.A.
Investors： Sumitomo Corporation, 70%, Sumitomo Corporation of Americas, 30%
Minera San Cristóbal Project Awarded High Commendations in Operations by CEEC for Grade Engineering® Technology
Minera San Cristóbal, one of the largest silver, zinc and lead mines in the world and wholly-owned subsidiary of Sumitomo Corporation, was part of a project awarded High Commendations by the Coalition for Energy Efficient Comminution (CEEC).
SCOA Joins Series A Financing for Cell-Based Seafood Company BlueNalu
New York, NY – SCOA announced today its investment in BlueNalu, a leading innovative food company producing seafood directly from fish cells.
SCOA Invests in Origin Wireless
Sumitomo Corporation, through SCOA, announced today its investment in Origin WirelessTM, a developer of advanced wireless sensing technologies for various “Smart Life” applications. SCOA’s investment will help Origin accelerate its integration with 5G mobile, enhancing the company’s solutions portfolio.
SCOA Acquires Stake in Unmanned Aerial Systems Analytics Provider
SCOA announced today its stake in OneSky Systems, Inc., the leading developer of Unmanned Traffic Management (UTM) and Urban Air Mobility (UAM) platforms, designed to enhance mission planning with advanced safety-of-flight analysis.
SCOA to Increase Investment in Sintavia
SCOA has entered into an agreement to increase its investment in Sintavia, the Aerospace and Space industry’s leading Tier One metal additive manufacturer, based in Hollywood, Florida.
Read More...
Sumitomo Corporation of Americas Purchases Collier Center in Downtown Phoenix
SCOA announced today their purchase of the Collier Center, a 2.8 acre commercial complex located in downtown Phoenix, Arizona.
SUMITOMO CORPORATION GROUP INVESTS IN MICROGRID INNOVATOR LO3 ENERGY
SC and SCOA announced today their investment in LO3 Energy, Inc. (“LO3 Energy”), a U.S.-based developer and operator of blockchain-powered peer-to-peer (P2P) energy platforms. This funding will support LO3 Energy’s commercialization of blockchain-based community microgrids.
Sumitomo Corporation of Americas Invests in Elementum 3D, Inc.; Furthers Reach into Additive Manufacturing
New York, NY – January 13, 2019 – Sumitomo Corporation of Americas (“SCOA”) announced today its investment in Elementum 3D, Inc. (“Elementum” or “the Company”), an additive manufacturing research and development company that specializes in the creation of advanced metals, composites and ceramics. Elementum holds a patent for a metal powder blended with ceramics that enables faster printing speed, stronger mechanical properties and a wider usage of metal grades that have not traditionally been suitable for additive manufacturing. This investment will help expand the marketing and sales of Elementum’s proprietary powder.
Sumitomo Corporation Announces Alliance with Bell in Air Mobility Industry
Sumitomo Corporation announced today its alliance with Bell, a Fort Worth, Texas-based company known as the premier provider of vertical lift aircraft and one of the leading companies in the up-and-coming air mobility industry.
Built Robotics and Sunstate Equipment Announce Partnership to Provide Autonomous Equipment Rentals
SCOA and SC are pleased to announce a groundbreaking partnership between one of the company’s most recent investments, Built Robotics, and SCOA group company Sunstate Equipment Co. (“Sunstate”). This partnership is the first of its kind within the construction industry and will provide autonomous construction equipment for rent to contractors around the nation.
SCOA Sells Turquoise Nevada Solar Project
Sumitomo Corporation of Americas is pleased to announce the sale of its Turquoise Nevada solar project in northern Nevada to Greenbacker Renewable Energy Company LLC. The 60.65-megawatt (DC) Turquoise Nevada project will sell power through a Power Purchase Agreement (PPA) with NV Energy through the state’s GreenEnergy Rider program.
Sumitomo Corporation of Americas joins BiTA; Aims at Using Blockchain Technology to Supercharge Current Portfolio
Sumitomo Corporation of Americas (“SCOA”) today announced it has joined the Blockchain in Transport Alliance, an organization dedicated to determining best practices and standards for Blockchain in the transportation and logistics industries.
SCOA Makes Strategic Investment in Sintavia
SCOA announced today that it made a minority investment in Sintavia, LLC, a leading Tier One metal additive manufacturer based in Davie, FL.
Summit Cosmetics Corporation Announces Expansion of its Green Portfolio; Signs Global Distribution Agreement with NXTLEVVEL Biochem
Summit Cosmetics Corporation (SCC), a global cosmetic ingredient developer and distributor, announced today that it has executed a Global Distribution Agreement with NXTLEVVEL, a commercial scale manufacturer of next generation biomass derived chemicals, for the distribution of its NXT SOLV product line to the Beauty and Personal Care industry.
Sustainable Coffee Still Flying High
SC Guatemala Exports Bird-Friendly® Coffee to Japan
Since 2001, SC Guatemala has expedited the export of coffee from Mexico, Central America and Andes countries to the Japanese market, but its most sustainability-aligned coffee is its Bird Friendly® (BF) Coffee, which continues to hold its place as the standard for environmentally-conscious coffee exports from Central and South America.
BF Coffee is organic-certified coffee grown on farms with a shade cover that provides substantial habitat for migratory and resident birds in tropical landscapes. Created in the late 1990’s by the staff of the Smithsonian Migratory Bird Center (SMBC) at the National Zoological Park in Washington D.C., the BF certification mark and seal of approval is based on ornithological research across several Latin American countries.
Sumitomo became involved with BF coffee when Mr. Takuro Sasaki of Sumitomo Corporation in Japan visited a coffee farm in Guatemala in 2003. “The grower told me that they were planning to obtain the Bird Friendly® certification under the program established by SMBC,” Mr. Sasaki told VISIONS in 2008. “That was my first contact with Bird Friendly®. The farm was forest-like and organic so I could easily understand how the Bird Friendly® farm was environmentally friendly.”
According to the Smithsonian National Zoological Park website, the underlying rationale for these bird-friendly coffee farms is that if the habitat is there, then birds will use it and benefit from it – even if it is an agricultural setting. Many farms in Latin America meet the criteria and do provide large areas of suitable habitat for many birds.
After returning home to Japan from the coffee farm, Mr. Sasaki wondered whether Sumitomo could import this coffee to the Japanese market. “Actually, I was looking for a new concept,” Mr. Sasaki explained. “The basic concept of Bird Friendly® is environmentally friendly. There were not many food products with this kind of concept in Japan at that time. Although there were organic products, they sounded safe and healthy rather than eco-friendly. And at this time, the Japanese were getting more interested in environmental issues. Therefore, I had a confidence that the concept of Bird Friendly® would work in exports to Japan.”
Mr. Sasaki added, “The criteria of certifying coffee organic is the same as the other organic products under the JAS (Japanese Agricultural Standard) organic regulation in the Japanese market. The original criteria established by SMBC requires at least 40% shade cover and at least a 12-meter-high main canopy, as well as 11 different tree species composing the shade canopy.”
Mr. Sasaki contacted SMBC and met with Dr. Robert Rice who was a research scientist of SMBC and established the Bird Friendly® program. This meeting sprung this unique and strong partnership. After six months of negotiation, Mr. Sasaki and Mr. Rice reached an exclusive agreement for the commercialization of this coffee in the Japanese market. As part of the introduction of Bird Friendly® coffee to Japanese consumers, Sumitomo joined exhibitions like the Eco-Products Exhibition and marketed the coffee to bird watchers and bird associations such as the Wild Bird Society of Japan (WBSJ).
“Bird-Friendly® coffee supports fair and stable prices for coffee producers,” said Lisset Morales de Najera, who currently manages the Bird-Friendly Coffee business exports for SC Guatemala, “as well as healthy environments for communities, greater biodiversity and protection for bird habitats, and equal access to markets for Bird Friendly coffee producers. 75% of the world’s coffee is farmed with practices that leave no place for birds, or worse, actively destroy forest habitat. When forests disappear, migratory songbirds disappear too. Bird-Friendly® farms are 100% organic certified — no harmful pesticides — so they are better for the people and the planet.”
Najera has kept abreast of the entire coffee processing method by continuing her coffee education through courses provided by ANACAFE Guatemala (National Association of Coffee from Guatemala).
“It is very important for me as trader and manager of food business working with green coffee exports to learn more about quality, origin, roasting level, different flavors and cupping profile that are unique to our micro-climates in Guatemala. I see this knowledge as providing a value-added service for our customers who will buy these coffees in Japan.”
Learning the process of production, harvest, wet-mill, dry-mill, packing and exportation gave Najera an even deeper understanding small-medium and large scale of producers of coffee in many countries of production.
“Every bit of our soil is enriched to give us the smell and taste of a cup of coffee that we enjoy during morning, after lunch and during dinner,” Najera said. “After diving into knowledge of the complete process, you never will be the same, because your mind changes to work for the mutual benefit, community growth and sustainable development goals for every producer that you know.”
BF Coffee is organic-certified coffee grown on farms with a shade cover that provides substantial habitat for migratory and resident birds in tropical landscapes. Created in the late 1990’s by the staff of the Smithsonian Migratory Bird Center (SMBC) at the National Zoological Park in Washington D.C., the BF certification mark and seal of approval is based on ornithological research across several Latin American countries.
Sumitomo Corporation of Americas Announces its Participation in Japanese Hydrogen Forum
SCOA announced today its participation in the Japanese Hydrogen Forum, which is comprised of a group of leading Japanese affiliated companies with hydrogen businesses in the U.S. that are intent on providing the latest information regarding technology and policy in hydrogen energy sectors, including state-of-art integrated hydrogen solutions to support the adoption from governments throughout the country.
Sumitomo Corporation Andes and Promigas Enter Agreement to Accelerate Hydrogen Mobility in Colombia
Bogota, Colombia - Sumitomo Corporation Andes S.A.S. (SCAN), a subsidiary of Sumitomo Corporation, one of the world’s largest traders and investors in goods and services, together with Promigas, a leading energy distributor and transporter in South America, announced today their intent to collaborate on the development of Hydrogen mobility solutions in Colombia.
Sumitomo Corporation of Americas Establishes SCOA Real Estate Partners
Sumitomo Corporation of Americas (“SCOA”), the largest subsidiary of Sumitomo Corporation (SC), today announced the establishment of a new investment company, SCOA Real Estate Partners (SREP,) focused primarily on the development of residential and industrial projects.
SCOA Makes Strategic Investment in IoT Software Company ClearBlade
New York, NY - SCOA announced today its investment in ClearBlade, an Internet of Things (IoT) company headquartered in Austin, Texas. SCOA’s investment will help the company expand its operations internationally and provide SCOA and affiliated companies’ access to ClearBlade’s world-class software.
SCOA Sponsors Syzygy Plasmonics’ Pilot Program to Demonstrate Sustainable Fuels Production System
SCOA announced today its participation as a sponsor for Syzygy Plasmonics’ pilot program with the nonprofit research institute RTI International, to demonstrate sustainable fuel production at the RTI facility in Research Triangle Park, North Carolina, USA.
Sumitomo Corporation of Americas Opens office in Phoenix, AZ; Will support Business Development for Semiconductor Industry
New York, NY – Sumitomo Corporation of Americas announced today the opening of its Phoenix, Arizona office in the Regus building in the north side of Phoenix. This office will support the further development and operations of SCOA’s semiconductor business.
SCOA Teams Up with North Dakota to Develop Clean Energy Projects & Achieve Net-Zero
New York, NY - Sumitomo Corporation of Americas (“SCOA”) announced today its partnership with the state of North Dakota to evaluate and develop businesses within the energy transition market, with the intent to accelerate decarbonization in the state and even beyond.
Presidio Ventures Makes Strategic Investment in Ori
New York, NY -- Presidio Ventures, a Sumitomo Corporation of Americas (“SCOA”) Group Company, has joined together with existing investors Khosla Ventures, Alphabet, Ingka Investments (of the IKEA Group) and Geolo Capital to participate in Ori’s recently closed round of equity financing. Led by South Korean conglomerate, Eugene Group, this funding positions the rapidly growing Boston/NY based startup for expansion in the APAC market.
Syzygy Enters Joint Development Agreement with LOTTE Chemical, LOTTE Fine Chemical and Sumitomo Corporation of Americas to Deliver Fully Electric Chemical Reactor Technology in the Race to Produce Clean Hydrogen
Syzygy Enters Joint Development Agreement with LOTTE Chemical, LOTTE Fine Chemical and Sumitomo Corporation of Americas to Deliver Fully Electric Chemical Reactor Technology in the Race to Produce Clean Hydrogen
The adoption of this innovative technology positions LOTTE and Sumitomo as leaders in the hydrogen industry and advances goals to decarbonize Korea
Sumitomo Corporation of Americas Invests in TAE Technologies; Funds Next-Gen Fusion Reactor to Accelerate Decarbonization
New York, NY – Sumitomo Corporation of Americas (“SCOA”) announced today its investment in TAE Technologies ("TAE"), a fusion power company and world leader in hydrogen-boron fusion research. The investment will help fund the construction of TAE’s next research reactor, “Copernicus” and accelerate SCOA’s implementation of fusion power in Japan and Asia as part of the company’s strategy to help realize a carbon-neutral society.
Acquisition of Nativa to Expand Agricultural Input & Service Business in Brazil
Cuiaba, Brazil – Sumitomo Corporation has reached an agreement with shareholders of NATIVA AGRONEGÓCIOS & REPRESENTAÇÕES LTDA. and NATIVA AGRÍCOLA E REPRESENTAÇÃO LTDA. (collectively, “Nativa”), an agricultural supplies distributor in southeastern Brazil, to acquire all shares of Nativa to make it a wholly owned subsidiary.
Presidio Ventures Makes Strategic Investment in Web3 Pro, Inc.; Will Leverage Sumitomo’s Network to Enhance Value of Enterprise NFT Platform
Presidio Ventures, a Sumitomo Corporation of Americas Group Company, has joined a bridge round for Web3 Pro, Inc., a white-label enterprise Non Fungible Token (NFT) platform company headquartered in Palo Alto, CA. Web3 Pro will use the funds from this round to continue expansion of its global team, build a next generation enterprise-grade suite of software in the NFT and Web3 area, and enter into numerous industry verticals including entertainment and music and sports.
Minto Metals Signs Four Year Concentrate Offtake Extension For Its Minto Mine
WHITEHORSE, YT – Minto Metals Corp today announced it has recently completed a detailed review of proposals received from various offtake companies with respect to the processing and purchase of the copper concentrate produced at the Company’s Minto Mine. In connection with the completion of this process, Minto Metals has entered into a more favourable offtake extension agreement with Sumitomo Corporation, contracted through Sumitomo Canada Limited.
Nestlé Brazil and SC Brazil Form Partnership Focused on Decarbonization of Dairy Farms
Sao Paolo, Brazil - SC Brazil and Nestlé Brasil signed a memorandum of understanding during the Brazil Japan Business Forum, held in São Paulo. The event, which discussed environmental cooperation initiatives to comply with the Paris Agreement, was attended by Vice-President Geraldo Alckmin and Prime Minister of Japan Fumio Kishida.
Strategic Biofuels Announces Strategic Investment from Magnolia Sustainable Energy Partners
Columbia, LA - Strategic Biofuels, a leading sustainable aviation fuels (SAF) project developer, announced today a strategic investment commitment from Magnolia Sustainable Energy Partners (M-SEP), a newly formed Japanese-based investment consortium created by SCOA Sumitomo Corporation of Americas (SCOA) and JX Nippon Oil & Gas Exploration Corporation (JX). The investment from M-SEP will be used to further advance the company’s flagship Louisiana Green Fuels (LGF) project, an ultra-low carbon negative SAF plant located in Caldwell Parish, Louisiana.
Maritime Industry Leaders to Explore Ammonia as Marine Fuel in the U.S. West Coast
Oakland, CA - American Bureau of Shipping, CALAMCO, Fleet Management Limited, Sumitomo Corporation and TOTE Services, LLC (“TOTE Services”) today announced the execution of a Memorandum of Understanding (MOU) to jointly conduct a feasibility study (hereinafter “Study”) with the aim to be one of the pioneers in establishing a comprehensive and competitive supply chain for the provision of clean ammonia ship-to-ship bunkering in the US West Coast. This Study will be conducted at the Port of Oakland, Benicia and nearby major ports in U.S. West Coast.
SCOA and Invest Alberta Sign MOU to Accelerate Energy Transition throughout Province of Alberta, Canada
SCOA and Invest Alberta announced today the signing of a Memorandum of Understanding to partner together to support SCOA's development of clean energy initiatives throughout the province of Alberta, Canada. The partnership will serve as a catalyst for developing energy transition opportunities within Alberta which has one of the world's most advanced regulatory systems in place to drive emission reductions whilst also offering excellent incentives to companies looking to develop new projects.
SCOA Commits $50,000 to Brazilian Red Cross To Support Brazil Disaster Relief Efforts
New York, NY – Sumitomo Corporation of Americas (“SCOA”) is committing USD $50,000 to the Brazilian Red Cross to support the disaster relief efforts related to the recent torrential rains in the Southern State of Brazil. This significant damage caused by the relentless heavy rains has impacted Southern State of Rio Grande do Sul Brazil since late April 2024.
SCOA and Strategic Biofuels Announce Major Investment Commitment
Strategic Biofuels, the leader in developing deeply negative carbon footprint renewable fuel plants, and Sumitomo Corporation of Americas (SCOA), a subsidiary of Sumitomo Corporation, a leading Fortune 500 global trading and business investment company dedicated to sustainability, announced today that they have entered into a Joint Development Agreement for the Louisiana Green Fuels (LGF) project at the Port of Columbia in Caldwell Parish, Louisiana.
SC makes investment in Brazilian insect protein production and biotechnology company Cyns to Support Next Generation Sustainable Feed Production
Sumitomo Corporation, through Sumitomo Corporation do Brasil S.A. announced today a joint investment in a Seed round for Cyns, a biotechnology company located in Sao Paulo, Brazil, to unlock the next chapter of black soldier fly (BSF) farming in Latin America. Lambarin Investimentos, a Brazilian family office and wealth management firm, has also joined the Seed Funding Round together with Sumitomo.
SCOA Makes Donation to Red Cross Directed toward Hawaii Disaster Relief Efforts
SCOA has made a donation to the American Red Cross to support the disaster relief efforts related to the wildfires that spread across Hawaii, predominantly devastating the Lahaina community and surrounding areas in Maui during the month of August.
SCOA and Rapyuta Robotics, Inc Form Strategic Partnership
SCOA and Rapyuta Robotics, Inc. announced today their partnership to provide groundbreaking fulfillment operations technologies to warehouses across the United States.
Industry Leaders Share Initial Results of Pioneering Effort to Decarbonize Global Supply Chains June
New York, NY – In an effort to drive mitigation and decarbonization, Sumitomo Corporation of Americas, Bayer, JBS, AMAGGI, Rumo, and SINAI Technologies announced today the initial results of their first-of-its-kind collaboration to collect, allocate, and share primary emissions data across global supply chains. These results are the first step in the CarbonPrime initiative, which is now open for other companies and private sector participants to join going forward.
Sumitomo Corporation Group Establishes Renewable Energy Development Company in the U.S.
SC through SCOA together with Advantage Capital (AC) — a U.S. impact investment firm that is also working on the development of the renewable energy business — has established Perennial Renewables LLC (PR), a limited liability company that develops renewable energy projects with a focus on solar power generation.
Allotrope Partners LLC, Axens North America and Sumitomo Corporation of Americas to Study Commercial Production of Low Carbon Biofuel Using Woody Biomass from Forest Thinning in California
Allotrope Partners LLC (“Allotrope”), Axens North America (“Axens”), and Sumitomo Corporation of Americas (“SCOA”) announced the signing of an agreement to develop a Joint Study for a commercial plant producing cellulosic bioethanol, utilizing the Axens Futurol™ process, produced from woody biomass through Allotrope Cellulosic Development Company LLC (“ACDC”), a project development company based in the State of California.
SCOA and Carbon Opportunities Fund Lead the Way with First Transaction of Tokenized Carbon Assets reflected in the Climate Action Data Trust
Washington, D.C. -- In an important step and key milestone for the carbon markets, Carbon Opportunities Fund and Sumitomo Corporation of Americas (SCOA) announced one of the first transactions of tokenized carbon credits leveraging the Climate Action Data Trust (CAD Trust) built on the Chia blockchain.
Click here to read
SC Expands Market Presence and Function in U.S. Sulfuric Acid Business with Acquisition of Saconix
Sumitomo Corporation of Americas (SCOA) together with its parent, Sumitomo Corporation Japan (SC) announced its acquisition of Saconix LLC (Saconix), a company engaged in the procurement, sale, storage and distribution of sulfuric acid in the Western U.S. and the Gulf Coast region, expanding its market presence in the Sulfuric Acid business in North America.
SCOA & Reconciliation Energy Transition Inc. Announce Exclusivity Agreement for Carbon Transportation and Sequestration Project in Alberta, Canada
Calgary AB and New York, NY - SCOA and Reconciliation Energy Transition Inc. (“RETI”) are pleased to announce they have entered into an agreement whereby RETI has granted to Sumitomo the exclusive right to acquire a significant equity interest in the East Calgary Carbon Transportation & Sequestration Project (the “CTS Hub”).
SCOA Announces Sales Agreement with Rock Identification Hardware and Solutions Provider Hyperspectral Intelligence Inc.
New York, NY – Sumitomo Corporation of Americas (SCOA) today announced the establishment of a non-exclusive strategic sales agent agreement with Hyperspectral Intelligence Inc. (HII), a leading provider of hyperspectral rock identification hardware and data analytics solutions for the mineral exploration and mining sector.
Sumitomo Corporation of Americas Diversifies into Distributed Energy with Solar and Storage Investment, Opportunity to Expand Globally
Sumitomo Corporation, through Sumitomo Corporation of Americas (hereinafter collectively referred to as, “Sumitomo Corporation Group”) announced today a tax equity investment in a diverse portfolio of solar photovoltaic (PV) plus battery energy storage projects, led by Pacifico Power. Sumitomo Corporation Group is expanding its Green Power Platform business* as evidenced by this investment which will be Sumitomo Corporation Group’s first in distributed generation.