ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Sep 26, 2018 12:00 JST
Source:
TRENDE
TRENDE Raises JPY 730 Million in Series A Funding
TOKYO, Sep 26, 2018 - (JCN Newswire) - TRENDE Inc., an online renewable energy retailer selling electricity to residential customers in Japan, today announced it has closed a JPY 730 million Series A funding round led by TEPCO Ventures with strategic investments from Showa Shell Sekiyu K.K. and Dubai Electricity and Water Authority (DEWA).
TRENDE is a spinout from Tokyo Electric Power Company Holdings, Inc., the largest utility in Japan serving millions of homes and businesses. The company is led by serial entrepreneurs Tadatoshi Senoo and Jeffrey Char, and takes an environmentally responsible approach to provide consumers with clean and affordable energy. With this investment TRENDE will continue to grow its technical team and build upon its early success in the market.
Tadatoshi Senoo, CEO of TRENDE said, "The Japanese energy industry is undergoing a fundamental transformation empowered by new technologies and business models. We are delighted to partner with these global energy companies to lead this digital transformation for the benefit of our customers in Japan."
The company's Ashita Denki service offers customers 2 simple and affordable flat rate plans. In addition, the company's Hot Denki service incentivizes customers to become prosumers. TRENDE installs, operates and maintains solar panels on homeowners' rooftops and shares the cost savings with its customer. The customer does not incur any upfront costs and immediately enjoys a lower energy tariff. Moreover, at the end of the contract term TRENDE transfers ownership of the solar panels to the customer.
TRENDE expects its Ashita Denki and Hot Denki services to accelerate the widespread adoption of solar power in Japan. At which point, the company aims to leverage blockchain technology to create a peer-to-peer (P2P) marketplace for producers and consumers of renewable energy.
"We look forward to partnering with TRENDE to drive the transformation of the Japanese energy industry," said Misao Hamamoto, Senior Executive Officer Energy Solution Business COO at Showa Shell. "We believe that TRENDE will redefine the energy ecosystem in Japan with its customer-centric business model and innovative P2P platform."
"TRENDE, an upcoming Japanese electricity retailer and technology company presents a unique opportunity to forge a strong partnership between a world class utility and a dynamic startup," said H.E. Saeed M Al Tayer, MD & CEO at DEWA. "I'm confident that both DEWA and TRENDE will provide each other several strategic benefits."
About TRENDE
TRENDE Inc. is an online renewable energy retailer selling electricity to residential customers in Japan via its Ashita Denki (
https://ashita-denki.jp/
) and Hot Denki (
https://hotdenki.jp
) service websites. TRENDE is a Tokyo Electric Power Company Holdings, Inc. group company. For more information, please visit
http://trende.jp/
.
About TEPCO Ventures
TEPCO Ventures is a Tokyo-based wholly-owned subsidiary of Tokyo Electric Power Company Holdings, Inc., Japan's largest electrical utility. TEPCO Ventures cooperates with other members of the TEPCO Group as well as new ventures to create additional value for society while strengthening the group's overall business portfolio and earning power.
https://www.tepcoventures.co.jp/en/
.
About Showa Shell
Showa Shell Sekiyu K.K. is listed on the Tokyo Stock Exchange and has roots dating back more than 100 years in the downstream energy business. Showa Shell Sekiyu Group's goal is to support its customers and society as an energy solutions provider supplying safe and sustainable energy, with Oil and Energy Solutions Business as its two main businesses.
http://www.showa-shell.co.jp/english/index.html
About Dubai Electricity and Water Authority
Dubai Electricity and Water Authority (DEWA) is a leading global utility that was formed in 1992 to provide Dubai's citizens and residents with a continuous and reliable supply of electricity and water. Today DEWA provide services to more than 800,000 customers with a satisfaction rate that reached more than 95%. DEWA has collaborated with several global utilities and is investing in leading startups across the globe.
https://www.dewa.gov.ae/en
Source: TRENDE
Sectors: Energy, Alternatives, Alternative Energy, PE, VC & Alternatives
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST
More Latest Release >>
Related Release
TRENDE selected to join 11 leading edge companies focused on solving the world's greatest challenges at Unreasonable Impact Asia Pacific 2020
12/1/2020 4:00:00 PM JST
Cleantech Group Names TRENDE Inc. a 2020 APAC 25 Company
9/16/2020 8:00:00 PM JST
TRENDE Secures Series B Funding, While Establishing Strategic Partnership with ITOCHU
6/18/2020 11:00:00 AM JST
TRENDE, Toyota and UTokyo Experiment with Next-generation Electricity System
5/28/2019 7:00:00 PM JST
The University of Tokyo, Toyota and TRENDE to Begin Testing Next-generation Electricity System
5/23/2019 2:03:00 PM JST
TRENDE Announces Formation of Advisory Board
10/1/2018 3:00:00 PM JST
More Press release >>