1.5 Billion JPY Financing for Expansion of EV Charging business

Syndicated loan to promote SDGs

ENECHANGE Ltd. (Head Office: Chuo-ku, Tokyo; Representative Director & CEO: Yohei Kiguchi; Representative Director & COO: Ippei Arita) has entered into syndicated commitment line agreements totaling 1.5 billion JPY in order to secure working capital for the rapid growth and expansion of its EV Charging business. With Sumitomo Mitsui Banking Corporation (as the coordinator), participating institutions include Sumitomo Mitsui Trust Bank, Shoko Chukin Bank, and other regional banks, including Chiba Bank, Kiyo Bank, Yamanashi Chuo Bank and San ju San Bank.

In this fundraising, the recent business expansion and future potential of the EV Charging business were highly evaluated, and we succeeded in setting up the funding line at a low cost. With this procurement, the cumulative amount of funds raised, including borrowings, for the EV charging business is approximately 2.1 billion JPY.

Background

At the “5th GX*1 Conference” held on December 22, 2022, GX executive committee for the transportation sector stated, “We will support the development of EVs and charging ports while encouraging improved performance of EVs toward compliance with ambitious standards for 2030.” The expansion of charging ports is seen as an important issue in Japan.

Since its launch in November 2021, the EV Charging business has received orders for 1,467 charging ports*2 throughout Japan, and is expected to achieve its target of 3,000 charging ports by June of 2023.
The EV Charging business has been recognized as an initiative that will not only lead to the decarbonization of Japan and the promotion of the SDGs, but also to the revitalization of local communities, leading to the broad support from financial institutions.

*1 Green Transformation; To transform the industrial structure and social economy by converting to green energy that does not produce greenhouse gases.
*2 From the Company’s financial results presentation for FY22 Q3

Outline of the Syndicated Loan

Total amount: 1.5 billion JPY
Date of contract2: December 27, 2022
Coordinator: Sumitomo Mitsui Banking Corporation
Participating Financial Institutions: Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, The Shoko Chukin Bank, Ltd., The Chiba Bank, Ltd., The Kiyo Bank, Ltd., The Yamanashi Chuo Bank, Ltd., San ju San Bank,Ltd.
Use of funds: Investment in EV Charging business

About ENECHANGE EV Charging Service

The ENECHANGE EV Charging service provides the installation of EV charging facilities at minimal upfront cost, making it ideal for charging at public locations such as commercial facilities, lodging facilities, and other public destinations. To improve convenience for EV drivers, we promote the development of domestic EV charging infrastructure by providing EV charger hardware, applications for users, and charging management systems for site hosts.

ENECHANGE EV Charging Service website: https://ev-charge.enechange.jp/ (*Japanese Only)

ENECHANGE EV Charge, Charge 2

About ENECHANGE Ltd.

ENECHANGE is an energy technology company with the mission of Changing Energy For A Better World, and promotes a carbon-free society through digital technology. Founded in 2015 and listed on the Tokyo Stock Exchange Mothers in 2020 (securities code: 4169), ENECHANGE works in the 4Ds of Energy: Deregulation, Digitalization, Decarbonization, and Decentralization. We offer a range of SaaS solutions for energy companies and are experiencing rapid growth. 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, SMAP Energy Limited, which has developed analytical technology for energy data and provides us with links to a global network.

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

For press inquiries, please contact
ENECHANGE Ltd. Public Relations
pr@enechange.co.jp