Additional investment in NEWGREEN - No-water rice cultivation at new trial sites

In April 2024, Chubu Electric Power agreed to a business alliance with NEWGREEN Inc. (Representative Directors: Daisuke Yamanaka and Hiroki Nakajo; Location: Tokyo; hereinafter "NEWGREEN") to commercialize rice production using dry field direct seeding and water-saving cultivation methods (hereinafter "this cultivation method"), and acquired shares in NEWGREEN.(Press release issued on April 30, 2024)

Today, our company invested approximately 300 million yen in NEWGREEN's third-party allocation of new shares, thereby acquiring additional shares in NEWGREEN.
Moving forward, we will work with NEWGREEN to visualize the environmental value created by reducing greenhouse gas (GHG) emissions through this cultivation method, as we aim to build a supply chain for rice with added environmental value.

In addition, since last fiscal year, Chubu Electric Power has begun field trials of this cultivation method in the Chubu area. The current fiscal year, we are proceeding with trials of this cultivation method at three new trial sites in Aichi, Mie, and Nagano Prefectures.
To expand the cultivation area, we'll use DX tools and drones for these trials to verify efficient cultivation systems and check cultivation methods under different environmental conditions.

Through the production of rice using this highly productive and decarbonizing cultivation method, Chubu Electric Power will build a food infrastructure to solve social issues in the agricultural sector thus contributing to the realization of a sustainable and livable society and the achievement of the SDGs.

<Reference 1> Overview of this fiscal year's trial sites

<Reference 2> Company Profile of NEWGREEN