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new york, September 6, 2022 /PRNewswire/ — Sumitomo Corporation of America (“SCOA”) today announced its partnership with the state. North Dakota To assess and develop businesses in the energy transfer market, with the aim of accelerating decarbonisation in the region and even beyond.
North Dakota It is a national leader in various industries including energy, agriculture, advanced manufacturing and technology. What’s more, with a stable tax and regulatory environment and a variety of economic development programs, North Dakota boasts a favorable ecosystem for new business development.
“We are happy to work with a great situation North Dakota And the creative leadership team,” he said Tomonori Wada, President and CEO, Sumitomo Corporation of Americas. “Local government is motivated to drive innovation and transform the energy transition market, and has created an environment conducive to nurturing such innovation. Our shared values and goals of carbon neutrality make this partnership a promising recipe for success.”
SCOA’s business development team brings financial strength, a large network of global resources and a deep seat of expertise in a variety of industries to this partnership. The agreement, which was announced through the Memorandum of Understanding (MOU) signed between the two parties, is non-binding and is only for the purpose of facilitating mutual cooperation and development of projects in the state. North Dakota.
“We are committed to partnering with the private sector to grow and expand our economy, and SCOA is well positioned to help. North Dakota Creating the necessary infrastructure to support clean energy initiatives; North Dakota Gov. Doug Burgum he said. “This partnership has great potential to enhance our research and development, evaluation and business modeling in this sector and accelerate our progress in developing clean energy sources and moving towards carbon neutrality by 2030.”
Both parties will study a wide range of options covering sustainable aviation fuel supply chain development, CCS/CCUS project development, hydrogen/ammonia supply chain development, geothermal utilization, CI (carbon intensity) scaling and agricultural optimization and digital transformation. Although these areas are of critical interest, the group does not limit their efforts and is open to other relevant industries and opportunities.
The MOU proposes an initial period of 10-12 months during which the parties will define key goals and opportunities, identify opportunities, assess the market and develop initial strategies based on feasibility studies.
About Sumitomo Corporation of America
Established and headquartered in 1952 New York City, Sumitomo Corporation of Americas (SCOA) has eight offices in major US 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 master organizer of multinational projects, an accelerator of ideas, an important global investor and financier, and a powerful force in distributing products and international relations through offices around the world. Its main business segments include tubular products, environment and infrastructure, ferrous 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
In Care Of North Dakota
For more information about the situation North DakotaVisit https://www.nd.gov
Source Sumitomo Corporation of America
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