On April 23, Iwatani and Cosmo Energy Holdings (Cosmo HD) entered into a capital and business alliance.

The two companies previously had a trading relationship for the procurement and sale of LPG and LNG, and in March 2022 they entered into a basic agreement to study a collaborative relationship in hydrogen business, which was the beginning of joint business ventures in hydrogen filling stations and engineering. Then on December 1, 2023, Iwatani acquired Cosmo HD stocks. After an investigation by the Fair Trade Commission, the company acquired an additional 250,000 shares, giving Iwatani 20.07% of the shareholder voting rights for Cosmos HD. This made Cosmos HD an equity affiliated company of Iwatani, strengthening the business and capital connections between the two companies.

Under this capital and business alliance, the two companies will be able to combine their management resources to provide new businesses, products, and services under the following two themes. The first theme is “Initiatives to realize a decarbonized society” and the second is “Strengthening of the relationship of the two companies in existing business sectors.” In relation to the decarbonized society initiative, there are four concrete assumptions, as shown in the diagram. For one of these, hydrogen energy, the companies formed a basic agreement on hydrogen business on March 8, 2022, even before entering into the capital and business alliance. In February 2023, Iwatani Cosmo Hydrogen Station LLC was established with the aim of collaborating in the hydrogen filling station business, and in November 2023, Cosmo Iwatani Hydrogen Engineering LLC was established to enable collaboration in hydrogen-related engineering business. As for hydrogen filling stations, the first FC truck hydrogen filling station in Japan was established in a truck terminal in Heiwajima, Tokyo, where operation has already been started. (Refer to separate article.)

The new business alliance adds to this the intent to expand the preparation of hydrogen filling stations using the service station network belonging to Cosmos HD. In addition, there are expectations for developments using the resources of both companies in the production of renewable-energy-derived green hydrogen and in the development of next-generation fuels, such as SAF.

In addition to these new areas, collaboration is expected in existing business areas, such as energy, industrial gases, and materials (chemical products and resources). Here, LP gas procurement will be strengthened, industrial gas production will be strengthened using the abilities of refineries, such as the procurement of materials gases including liquid carbon dioxide and dry ice, and the production and sales of chemical products and resources, such as rechargeable battery materials, will be strengthened.

Both companies have established a collaboration promotion committee headed by the representative director of each company, and the first committee meeting was held in Tokyo on April 30.