Chubu Electric Power Co.,Inc. | Agreement on Capital and Business Alliance with Novars, Startup Developing and Manufacturing Wireless Dry Battery Cell MaBeee® - Press Releases(2019)
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Press Release 2019

Agreement on Capital and Business Alliance with Novars, Startup Developing and Manufacturing Wireless Dry Battery Cell MaBeee®

October 25, 2019

Chubu Electric Power Co.,Inc.

Chubu Electric Power Co., Inc. (President & Director: Satoru Katsuno; head office in Higashi-ku, Nagoya city; “Chubu Electric Power”) and Novars, Inc. (President: Akihiro Okabe; head office in Chiyoda-ku, Tokyo; “Novars”) announced today that the two companies have agreed on a business alliance for developing services in the “watching-over” sector and agreed that Chubu Electric Power will underwrite a portion of the new third-party shares which Novars will allot.

This investment will be contributed by the Chubu Electric Power Community Support Fund, a corporate venture capital fund established in April 2019 as an internal fund for swiftly investing in startups with advanced technology or revolutionary business models as well as other venture capital funds.

In the “Chubu Electric Power Group Management Vision,” the company set out, in addition to the electricity business, to “provide schemes for new communities” as a new growth area and established the Business Creation Headquarters in April 2019 to accelerate the deployment of services related to this. Chubu Electric Power has advanced a variety of initiatives that progressively utilize AI and IoT technologies as well as outside resources.

Novars is a venture business working to develop and manufacture a connected battery integrating a communication module into the battery unit. With its wireless dry battery cell-device MaBeee®, the company possesses the technology to connect a variety of products to the IoT and deploy AI to utilize big data obtained from these devices.

In offering solutions to social problems arising as the birthrate declines and population ages further, both companies will strive to develop and expand services linked to a variety of “watching-over” services for the elderly, a customer need anticipated to increase in the future, and thereby provide greater safety and security in people’s lives.

【Reference】Profile of Novars (Current as of September 2019)

Date of establishment

April 24,2015

Location

6 Ichiban-cho, Chiyoda-ku, Tokyo

Representative

President Akihiro Okabe

Capital

100 million yen

Business description

Development and manufacture of the wireless dry cell battery MaBeee®