PNB-INSPiRE Ethical Fund 1 Investment Business Limited Liability Partnership (“PIEF”) acquired the stock of Green Earth Institute Co.,Ltd (“GEI”) through third-party allocation.
This is the second investment since PIEF had previously acquired GEI’s stock through third-party allocation in September 2017.
GEI is a venture company who develops bio-process platform producing various chemical products including carbon neutral bioethanol and amino-acids made from non-food biomass such as leaves and stems of plants, and is committed to commercialize it through a bio-related patent developed by and exclusively licensed from RITE (Research Institute of Innovative Technology for the Earth). With this patent, it becomes possible to generate useful substances under non-proliferating environment as it utilizes the inherent nature of certain bacteria, and to realize more efficient production of low-cost green chemical products from non-food biomass which conventional fermentation technologies were not available to do.
GEI initiated commercial plant production for Alanine, an amino acid necessary for improvement of liver function and sustainable exercises, and bioethanol for cosmetics made from woody biomass, and since the last fall, GEI started mass production of valine, an essential amino acid for energy metabolism in muscles. Additionally, GEI is accelerating joint research and development with several chemical manufacturers who belive in GEI’s distinguished biorefinery technology, one such example is in August last year, GEI entered into a capital and business alliance agreement with DIC Corporation, a leading global producer of printing ink and organic pigments.
In addition to PIEF, GEI issued new shares as part of the Series C rounds through third-party allocation to Electric Power Development Co. (J Power) who operates power generation businesses both domestically and globally, and INTERWOOS CO., LTD. Inc. who provides business development consultation and professional human resource recruitment services, accelerating GEI’s business development. Particularly, J-Power as an energy company that conducts a wide range of businesses in the areas of energy and environment, by obtaining their capital participation, while taking advantage from the PIEF network GEI will be able to combine energy business and chemical manufacturing to create a complex business model that utilizes abundant non-food biomass sources in Southeast Asia
As it now becomes premiant that the fossil-resource-based society is reaching its limit, due to global issues such as climate change from greenhouse gas emissions and serious marine pollution cased by plastic waste, the importance of GEI’s biorefinery technology to resolve both resource and food issues becomes increasingly crucial. We at the INSPiRE group see this investment as an opportunity to provide stronger support.
More specifically, while promoting the robust networks of the PNB group, a participant of PIEF and the largest government-affiliated investment company in Malaysia, we will continue to support overseas business development, particularly in ASEAN, though business alliances with PNB’s subsidiaries such as Sime Darby (the world’s largest palm plantation) and the Federal Land Development Authority of Malaysia (Lembaga Kemajuan Tanah Persekutuan; FELDA).
About Green Earth Institute Co.,Ltd.
Headquarters: 7-3-1 Hongo, Bunkyo-ku, Tokyo
CEO: Tomohito Ihara
Capital: 452.7 million JPY
PNB Inspire Partners Corporation