Cosmo Engineering and Iwatani Establish a Joint Venture to Collaborate in the Hydrogen-related Project Engineering Business
~Aiming to Participate in Hydrogen Supply Chain-related Facility Design and Construction~
November 6, 2023
Cosmo Engineering Co., Ltd.
Cosmo Energy Holdings Co., Ltd.
Iwatani Corporation
Cosmo Engineering Co., Ltd. (hereafter, “Cosmo Engineering”), a subsidiary of Cosmo Energy Holdings Co., Ltd., and Iwatani Corporation (hereafter, “Iwatani”) are pleased to announce the establishment of new company, Cosmo Iwatani Hydrogen Engineering LLC (hereafter, “the Joint Venture”), on November 1 for the purpose of collaborating in the hydrogen-related project engineering business.
The Joint Venture will undertake hydrogen-related projects involving large-scale hydrogen supply chains by leveraging Cosmo Engineering's hydrogen facility-related engineering technologies and Iwatani's hydrogen supply network and the product appeal of its hydrogen-related equipment.
Hydrogen is expected to be widely used in power generation, industry, transportation, and other sectors as a key carbon-neutral technology as it does not emit carbon dioxide when used. Through the hydrogen-related project engineering business formed by the establishment of this Joint Venture, Cosmo Engineering and Iwatani will further support the societal uptake of hydrogen fuel and the expansion of hydrogen demand to help make the decarbonization of society a reality.
■Joint venture overview
| Company name | Cosmo Iwatani Hydrogen Engineering LLC |
| Established | November 1, 2023 |
| Address | 2-5-8 Higashi Shinagawa, Shinagawa-ku, Tokyo |
| Investment ratio | Cosmo Engineering 60%, Iwatani 40% |
| Representative managing director | Takeyuki Kiyosawa (Cosmo Engineering) |
| Managing director | Shigehiro Yabuno (Iwatani) |