Green Earth Institute Co., Ltd. (GEI), an investee of PIEF, has implemented a third-party allocation of new shares to be underwritten by AIR WATER INC., Sojitz Corporation, Sony Innovation Fund by IGV, and Norinchukin Bank. (no specific order)
AIR WATER is engaged in a wide range of businesses including industrial gas, chemicals, medical care, energy, agriculture and food, logistics, seawater, and aerosols. In collaboration with GEI, the company will develop materials to solve environmental issues and advance into the environmental industry.
Sojitz Corporation is expanding its business domain to various countries and regions globally as a general trading company. In the chemical industry, Sojitz has a client network as well as a sales & procurement network that spans over 5,000 companies worldwide. Through this investment in GEI, Sojitz aims to build new businesses in the biochemical field.
Sony Innovation Fund by IGV decided to make this investment in recognition of GEI’s advanced technology in producing chemicals from non-edible biomass, which is expected to grow the biofinary market significantly in the future.
Norinchukin Bank is a national financial institution based on a cooperative organization of agricultural, forestry and fishery businesses. In cooperation with GEI, Norinchukin Bank will present solutions for environmental and social issues surrounding the agricultural, forestry and fishery industries.
Through this capital increase, GEI aims to further develop its biorefinery business by expanding its pipeline of new green chemicals and promoting global and domestic business development, while making use of the business network and highly specialized knowledge of the above-mentioned partners.
For more information, please visit the websites:
Green Earth Institute Press Release
AIR WATER Press Release
Sojitz Corporation Press Release
Sony Innovation Fund Press Release
Norinchukin Bank Press Release