PowerX Co., Ltd.
PowerX Co., Ltd. raises additional funds of 2.7 billion yen for the construction of its own storage battery factory and business expansion Invested by major domestic electric power and non-life insurance companies
PowerX, Inc. (Minato-ku, Tokyo, Director and Representative Executive Officer, President and CEO: Masahiro Ito, hereinafter referred to as the Company), which develops new businesses in the spread of natural energy and the evolution of power storage and power transmission technology, has added We are pleased to inform you that we have raised 2.7 billion yen. As of today, we have procured a total of
approximately 9.9 billion yen. The funds raised this time will be used for manufacturing storage battery products at the storage battery factory “PowerBase” under construction in Tamano City, Okayama Prefecture, and for research and development of products.
Investors participating in this fundraising (titles omitted) ・ JA Mitsui Leasing Co., Ltd.
・ Sompo Japan Insurance Inc.
・ Shoei Steamship Co., Ltd.
・ Tatsumi Shokai Co., Ltd.
・ Shikoku Electric Power Co., Inc.
・ Anchor Ship Partners Group
・ Other operating companies
Our future business development
In 2022, the second year since our founding, we will start accepting pre-orders for the battery-type ultra-rapid EV charger “Hypercharger” and the large-scale stationary storage battery “Mega Power”. Exceeded GWh (3.3 million kWh, equivalent to approximately 186.1 billion yen), and the pre-orders received will be manufactured at our affiliated factory in Tokushima and at the “Power Base” located in Tamano City, Okayama Prefecture, which is currently under construction. As soon as the production line is launched, orders will be formally placed, and we plan to start shipping.
In addition, the EV charging station business, which was announced in October last year, is scheduled to start sequentially at 10 locations mainly in Tokyo from this summer. In addition, we will announce detailed specifications for the electric carrier “Power ARK” business in the first half of this year, and will further accelerate
preparations for the completion and demonstration experiment of the first boat scheduled for 2025.
Comments from investors participating in this round
・JA Mitsui Leasing Co., Ltd. Representative Director and President Executive Officer Takahito Shinwake
“Our company is working on decarbonization, such as supporting the introduction of renewable energy equipment, in order to deal with the worsening global warming and climate change issues and realize a sustainable society. As the demand for storage batteries increases as they become more popular, we will invest in this time with the desire to create an unprecedented battery infrastructure and arbitrage business by collaborating with PowerX, which is challenging Japan’s largest storage battery business. Got it.”
・Sompo Japan Insurance Co., Ltd. Managing Executive Officer Satoshi Takayama “Our company sympathizes with PowerX’s mission of ‘realizing the explosive spread of natural energy’ and has decided to invest in PowerX. Together with our investment partners, we will support PowerX, which is advancing the development of , and contribute to the realization of a carbon-neutral and sustainable society.
・Tatsumi Shokai Co., Ltd. President Toyoki Nishi
“Our company and our group, which operates the logistics and shipping business, aim to enter the transportation business related to offshore wind power generation under the slogan ‘Dreams come true, connect to the future.’ We are very pleased to be able to work with PowerX, which provides natural energy utilization solutions using high-performance storage batteries such as EV and ultra-fast EV charging stations.” ・ Shikoku Electric Power Co., Ltd. Director Vice President Executive Officer Hisashi Shirai
“We have high hopes that the storage batteries and EV quick chargers developed by PowerX will greatly contribute to resolving Japan’s energy problems. We will work to realize a carbon society.”
・Anchor Ship Partners Group Representative Tetsuro Shinoda
“Our group aims to be a solution provider for the maritime industry in Japan, and has been providing solutions to industry stakeholders based on the idea of ’connecting shipping and finance.’ We believe that energy solutions using storage batteries will play an important role in realizing a decarbonized society. We will contribute to the expansion of PowerX’s business and the realization of a decarbonized society by leveraging our knowledge and network with regional financial institutions.”
Comment from Masahiro Ito, Director, Prefectural Representative Executive Officer, President and CEO, PowerX Co., Ltd.
“I am very grateful that many companies have invested in us following our Series A funding and loans from financial institutions. We will accelerate our efforts to realize the spread of renewable energy, such as the production and shipment of products and the development and expansion of EV charging station services.”
PowerX Co., Ltd. Company Profile
Company name: PowerX, Inc.
Established: March 22, 2021
Representative: Masahiro Ito, Director, Representative Executive Officer, President and CEO
Financing amount: 9.9 billion yen (including capital reserves and bank loans) Location: Midtown Tower 43F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6243 Business description: Manufacture and sale of large storage batteries, development of EV charging station services, and development and manufacture of electric carriers
*This press release is for the sole purpose of providing information on the PowerX business, and is not intended to solicit securities under the Financial Instruments and Exchange Act.
Details about this release:
PowerX Co., Ltd.