Sumitomo Electric to expand US flow battery business

URLhttps://www.energy-storage.news/sumitomo-electric-
SourceEnergy Storage News
Date Published02/14/2023
Author NameAndy Colthorpe
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Sumitomo Electric Industries
Parent companySumitomo Electric Industries, Ltd.
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2023
Capital investment ($):7.6
Country(ies) from which reshored:Japan
State(s) reshored to:CA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredvanadium redox flow battery (VRFB)
What domestic positive factors made reshoring more attractive?Eco-system synergies, Government Incentives, Infrastructure, Proximity to customers/market, clean energy
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