Capital and Business Alliance with AAKEL, Provider of support services for corporate and municipal decarbonization

Chubu Electric Power and Aakel Technologies Inc. (CEO: Ryoji Miyawaki, "AAKEL") agreed to a business alliance for the development of services in the mobility business, and Chubu Electric Power now has acquired shares in AAKEL by subscribing to a portion of the third-party allotment of new shares conducted by AAKEL.

AAKEL is a climate tech company that aims to realize a decarbonized society by mainly developing services for companies and municipalities, such as "eCarbon," which visualizes CO₂ emissions and proposes strategies to reduce emissions, and "eFleet," which uses AI to centrally manage and automate the efficient charging and operation of electric vehicles ("EVs").

Through this capital and business alliance, Chubu Electric Power will accelerate the development of new solution services that combine the technologies and services of both companies, including the functional enhancement of OPCAT, our optimal charging management system for commercial EVs, in order to contribute to the decarbonization of society and customers through the spread of EVs toward the achievement of carbon neutrality by 2050.

The investment will be made from Chubu Electric Power Community Support Fund, a corporate venture capital established in April 2019 as an internal fund to speed up investment in venture companies and venture investment funds with cutting-edge technologies and innovative business models.

<Reference>AAKEL Overview