Launched CO2 Zero Emission Bus Operation Service in Iida City, Nagano Prefecture

Fleet EV Initiative LCC (hereinafter, “FEVI”), which was established as a joint venture company between Chubu Electric Power Co., Inc. (hereinafter, “Chubu Electric”) and Marubeni Corporation (hereinafter, “Marubeni”), hereby announces the launch of an EV bus operation service that has achieved effectively zero CO₂ emissions. This service is part of the proof of concept for the optimal operation of an EV bus that has been conducted in Iida City, Nagano Prefecture since January 15th, 2021.

In operating this service, Chubu Electric Power Miraiz Co., Inc. will provide electricity with a non-fossil certificate derived from "Mega Solar Iida *1" as a CO₂ free alternative *2, and will operate a “CO₂ Zero Emission Bus”, which will emit virtually no CO₂.

Through this operation, FEVI will endeavor to create new value for bus operators by verifying the CO₂ reduction effect by charging the EV bus with electric power derived from renewable energy resources, and by evaluating the environmental value and market transactions.

* 1 Location: Iida City, Nagano Prefecture, Output: 1,000 kW, Estimated annual power generation: 1 million kWh (for about 320 ordinary households), Start of operation: January 2011

* 2 An alternative with CO₂-free value derived from renewable energy power sources, which emit no CO₂ during the power generation process.

This operation is based on the "Basic Agreement on Demonstration of Utilization of New Mobility for Regional Development" signed by Iida City (Mayor: Ken Sato), Shinnan Koutsu Corporation., Ltd. (President: Kazuo Nakajima) and Chubu Electric on February 14, 2020.

FEVI will contribute to the realization of a sustainable society through the electrification of vehicles for logistics and transportation companies. The company will also contribute through CO₂ reduction and will make proposals for BCP measures with the power storage function of electric vehicles and further utilization of renewable energy resources.