Notice Concerning Capital and Business Partnership with ITOCHU ENEX CO.,LTD. and Issuance of New Shares through Third-party Allotment

ENECHANGE Ltd. (Head Office: Chuo-ku, Tokyo; CEO: Tomoya Maruoka, hereafter “ENECHANGE”) and ITOCHU ENEX CO., LTD. (Head Office: Chiyoda-ku, Tokyo; Representative Director President and CEO: Tomofumi Yoshida,  hereafter “ITOCHU ENEX”) have entered into a capital and business partnership agreement with the objective of forming a capital and business partnership (hereafter “this Capital and Business Partnership”). Additionally, we announce the issuance of new shares to ITOCHU ENEX through a third-party allotment .

Background of the Capital and Business Alliance

ENECHANGE, with its mission of “Changing Energy For A Better World,” has been operating the “Energy Platform Business” to assist consumers in selecting optimal electricity and gas providers since its founding in April 2015. In addition, it has launched the “Energy Data Business,” offering cloud-based DX services to electricity and gas companies. In November 2021, ENECHANGE expanded into the EV Charging Service Business by establishing ENECHANGE EV Charge, focusing on developing EV charging infrastructure critical to promoting electric vehicles (EVs) and achieving a decarbonized society.

The company continues to improve charging infrastructure services to enhance convenience for EV users. Through this capital and business partnership, we aim to foster growth potential and future opportunities for both parties. This will be achieved by combining ENECHANGE’s expertise and management resources in the “Energy Platform Business,” “Energy Data Business,” and “EV Charging Service Business” with ITOCHU ENEX Group’s extensive knowledge as an energy infrastructure provider, its vast customer network, and its business development capabilities. Synergies will be pursued as outlined in the “Overview of This Capital and Business Partnership” below.

Both companies, under a long-term partnership, will promote the enhancement of value chains in the fields of electricity, gas, and mobility, striving to strengthen a system that can provide solutions to a wide range of needs from daily life to industry. Additionally, they aim to leverage the strengths of their existing businesses to transform business expansion and profitability structures from a mid- to long-term perspective, accelerating the realization of growth strategies for strengthening competitiveness by deepening customer engagement, digitalizing business models, and establishing new revenue bases.

Outline of the Capital and Business Partnership

1. Implementation of customer acquisition promotion initiatives and joint marketing using our energy platform (which includes our electricity and gas comparison site and offline sales network, hereinafter referred to as “our platform”).
2. Expansion of energy-related products and services to enhance the added value of our platform.
3. Joint development and external sales of core systems in the retail sector (electricity, gas, and mobility), and joint outsourcing of operations for retail businesses.
4. Joint development and provision of energy (energy-saving) consulting systems and related services.
5. Collaboration aimed at expanding the EV charging service business (promoting the spread and support of EV charging port networks, as well as expanding energy-related products and services for installation sites). *1

*1 As stated in the announcement dated Jan 24, 2025, Notice Concerning the Establishment of a Subsidiary for Joint Venture of EV Charging Business between ENECHANGE Ltd. and Our Subsidiaries, Share Transfer Agreement with CHUBU Electric Power Miraiz Company, Incorporated, and Change in a Subsidiary, ENECHANGE are advancing the separation of the EV charging service business. However, as for the development and construction of a distributed energy network utilizing EV charging infrastructure, and integrated cloud services in the EV sector for external sales, such as energy management solutions using this infrastructure, we aim to develop and construct these within our “Energy Data Business”.

Synergy in Collaboration (Concept Image)

ITOCHU ENEX CO.,LTD.

Since its founding in 1961, ITOCHU ENEX has committed to the stable supply of energy as “The Best Partner for Life and Society” delivering essential energy such as petroleum products, LP gas, and electricity across the country. We will continue to meet the evolving needs of the times and contribute to the realization of a decarbonized society and the resolution of various challenges faced by customers and society through energy.

ENECHANGE Ltd.

ENECHANGE is an energy technology company that promotes a carbon-free society through digital technology with the mission of Changing Energy For A Better World. We offer services based on data utilization in the field of the 4Ds of Energy: Deregulation, Digitalization, Decarbonization, and Decentralization. Our company’s roots come from an energy data lab at the University of Cambridge, UK – a country where liberalization is mature. ENECHANGE has a UK subsidiary, ENECHANGE Innovation Limited, as well as a global network and analytical technology for energy data.

URL: https://enechange.co.jp/en/

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ENECHANGE Ltd.
pr@enechange.co.jp