November 16, 2020
Others
Investment in the open innovation fund operated by European venture capital Emerald Technology Ventures - Promoting open innovation with overseas startups to quickly create next-generation businesses -
Idemitsu Kosan Co.,Ltd. (Headquarters: Chiyoda-ku, Tokyo, Representative Director: Shunichi Kito, hereinafter referred to as the Company) has joined the open innovation fund operated by Swiss cleantech venture capital Emerald Technology Ventures (Headquarters: Zurich, Switzerland, hereinafter referred to as Emerald). We have recently decided to invest in Additionally, we will establish a European open innovation promotion base in Switzerland. We will accelerate open innovation not only in Japan but also with overseas startups, and strengthen our efforts to expand our growth businesses, create next-generation businesses, and develop technologies that contribute to reducing GHG (greenhouse gas).
This open innovation fund, operated by Emerald, has a portfolio of industrial innovations in materials chemistry and clean tech that contribute to solving social issues such as improving energy efficiency and reducing CO2 emissions. Based on our investment in the fund and our partnership with Emerald, we will leverage the synergy between Emerald's technical knowledge, market insight, and access to overseas startups, and the technology and business network that we have cultivated. By incorporating innovative technologies from startups, we aim to build a business portfolio that can respond flexibly and robustly to changes in the environment.
Furthermore, in order to accelerate global open innovation, we plan to establish a European open innovation promotion base in Baselstadt, Switzerland.
In our Medium-term Management Plan (covering period: FY2020-2022), our company recognizes the business environment of 2030 as ``changes in energy demand structure,'' ``progress in technological innovation,'' and ``changes in lifestyle and social demands.'' With the aim of "realizing a resilient business portfolio" that can respond flexibly and robustly to changes in the environment, we have prioritized the promotion of "expansion of growth businesses *1" and "creation of next-generation businesses *2". . Furthermore, in order to "build a business platform that adapts to the demands of society," we have set GHG reduction targets as specific goals to achieve "harmony with the global environment and society," and are promoting initiatives to achieve them. . In order to solve these priority issues, we are working to promote open innovation that utilizes external technologies and ideas, in addition to leveraging our collective strengths by linking our group's technologies.
We will continue to take on the challenge of creating new value by promoting open innovation both domestically and overseas.
*1 Growth businesses: Functional materials business such as lubricants, Advanced materials & Performance Chemicals, electronic materials, agri-bio, all-solid lithium-ion battery materials, and renewable energy business.
*2 Next-generation businesses: Businesses that focus on social changes, diversifying customer needs, reducing environmental impact, etc., such as distributed energy businesses and circular energy businesses.
[Emerald Technology Ventures Overview]
| Company Name | Emerald Technology Ventures |
|---|---|
| Year of establishment | the year of 2000 |
| Head office location | switzerland zurich |
| Business details | Open innovation venture capital business |
| URL | www.emerald-ventures.com |
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Idemitsu Kosan Co.,Ltd. Public Relations Department Public Relations Division