- Press Release
Sumitomo Mitsui Trust Bank joins the Decarbonized Tech Fund
ENECHANGE Ltd. (Head Office: Chiyoda-ku, Tokyo; Representative Director & CEO: Yohei Kiguchi; Representative Director & COO: Ippei Arita) is pleased to announce that Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank) is officially joining as a limited partner (L.P.) of Japan Energy Fund’s Decarbonized Tech Fund.
In addition to ENECHANGE, BIPROGY Inc. (formerly known as Nihon Unisys, Ltd.) and Toshiba Energy Systems Corporation are participating in the Fund. The participation of SuMi TRUST Bank brings the total number of L.P.s to four.
SuMi TRUST Bank plans to invest a cumulative total of 500 billion yen by fiscal 2030 in businesses and funds that contribute to accelerating the decarbonization of our society. The Bank also plans to use this as a catalyst to solicit funds from institutional investors to increase its investment scale to 2.5 trillion yen, and this investment into Japan Energy Fund’s Decarbonized Tech Fund is part of that plan.
Yohei Kiguchi, Founder and CEO of Japan Capital and ENECHANGE Ltd.
In order to reach net zero globally, it is essential to invest in a wider range of climate-tech companies around the world. We are pleased to be working with Sumitomo Mitsui Trust Bank to further accelerate our investment activities and bring us one step closer to a decarbonized society. We believe that the access to Sumitomo Mitsui Trust Bank’s broad network will further encourage our portfolio companies to enter the Japanese market.
Kengo Noguchi, Executive Vice President, Investor relations, Sumitomo Mitsui Trust Bank, Limited
We are very pleased to be able to contribute to global decarbonization through our participation in this overseas decarbonization tech-specific fund, and through our partnership with ENECHANGE Corporation, we will continue to work towards the realization of a sustainable and decarbonized society.
Overview of Decarbonized Tech Fund
The Decarbonized Tech Fund aims to accelerate the realization of a decarbonized society by investing in critical enabling technologies. The Fund primarily invests in climate tech that helps decarbonize the grid (generation and demand side), electrify transport (e.g., electric vehicles and surrounding infrastructure) and capture carbon. It does so by sourcing leading overseas ventures to invest in, prioritizing those that have the potential to accelerate the decarbonization of the Japanese economy.
Japan Energy Fund – Summary
|Fund Name||Japan Energy Capital 2 L.P. (“Japan Energy Fund” (JEF))|
|Date of establishment||September 30, 2021|
|Investment method||Capital call method|
|Investment target||Energy tech ventures from overseas|
|Fund Target size||50 million US dollar|
|Operation period||Until September 2031|
|General Partner||Japan Energy Capital limited liability company|
*as of 2022.06.01
BIPROGY Inc. (former Nihon Unisys Limited.)
Toshiba Energy Systems & Solutions Corporation
Sumitomo Mitsui Trust Bank, Limited
●Press release concerning establishment of decarbonized tech fund “Establishment of the Decarbonized Tech Fund, specialized in overseas energy venture companies”(2021.09.30)
●Press release on investments of Decarbonized Tech Fund
“ENECHANGE invests in Swiss-headquartered venture Akselos, a digital twin technology company for offshore wind, through its associated decarbonization tech fund”(2022.05.09)
About Sumitomo Mitsui Trust Bank, Limited
SuMi TRUST Bank was founded in 1925 and was established in 2012 as a core entity of SuMi TRUST Group, the only trust bank group in Japan. We provide optimal solutions to our clients by demonstrating our comprehensive strengths that combine banking businesses and trust related businesses such as asset management and asset administration, pensions, real estate, and stock transfer agency. We also support the business activities of our clients who tackle the realization of carbon neutrality by providing solutions related to sustainability such as sustainable finance and impact equity investment, and contribute to solving problems for our clients and society.
About 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, U.K., a country where liberalization is mature. ENECHANGE has a British subsidiary, SMAP Energy Limited, as well as a global network and analytical technology for energy data.
※This press release is not intended as an offer or solicitation by ENECHANGE Ltd., BIPROGY Inc., Toshiba Energy Systems Corporation, or Sumitomo Mitsui Trust Bank, Limited to provide investment management services or to solicit specific investment products. ENECHANGE Ltd., BIPROGY Inc., Toshiba Energy Systems Corporation, and Sumitomo Mitsui Trust Bank, Limited are not soliciting investment in the aforementioned funds, etc. via this press release.