Sumitomo Mitsui Trust Bank joins the Decarbonized Tech Fund
London, 8 June, 2022 - Japan Energy Fund 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.