CHITOSE-BIO-EVOLUTION
CHITOSE BIO EVOLUTION PTE. LTD., the leader of the global bioeconomy and the headquarters of the CHITOSE Group (hereinafter "CHITOSE"), has successfully concluded a total of 21M USD new share issuances through a third-party allotment with Shiseido Company, Limited, NGK INSULATORS, LTD., Mitsui Mining & Smelting Co. Ltd. (*1), Mitsubishi Kakoki Kaisha.Ltd., Amano Enzyme Inc., Mers Line Pte. Ltd. (*2), Ikeda tohka Industries Co., Ltd. and SHINSHO CORPORATION. The funds raised will be allocated towards the expansion of the microalgae production facility and R&D of product applications in order to accelerate MATSURI, the project to build a microalgae-based industry to replace the petroleum industry. Through these commitments, CHITOSE will contribute to the realization of zero carbon emissions and work together with others toward a prosperous future that will last beyond a thousand years.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230914666208/en/
Microalgae Production Scale Roadmap (Graphic: Business Wire)
*1 Investment by Mitsui Kinzoku-SBI Material Innovation Fund with Mitsui Mining & Smelting Co. Ltd. as a Limited Partnership and SBI Investment as a General Partnership.
*2 Investment by Sun Sail Navigation Pte. Ltd., which belongs to the Mers Line Pte Ltd. group.
Rationale for the Capital Increase & Use of Proceeds
CHITOSE envisions a future in which humankind can live prosperously for the next thousand years and aims to build an unprecedented microalgae-derived industry. Working in collaboration with progressive companies and organizations spanning various sectors and industries, CHITOSE is simultaneously expanding the scale of production and developing multifaceted applications in order to promote the use of microalgae products in fuels, foods, chemical products, cosmetics, and feedstuffs that support people's lives.
In terms of scale-up of microalgae production facilities, following completion of a 0.1 hectare facility in August 2018, CHITOSE successfully inaugurated a 5 hectare-facility named CHITOSE Carbon Capture Central (C4) in April 2023. CHITOSE plans to expand it further to a scale of 2,000 hectares by 2030 and 10 million hectares by 2050. In the current fiscal year, CHITOSE has just launched the 2,000 hectare-project, of which the initial 100 hectare-facility development along with the R&D of various applications have been selected as a commissioned project by the Green Innovation Fund / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material (*3) of NEDO (*4).
*3 About the Green Innovation Fund Project / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material
https://green-innovation.nedo.go.jp/en/project/bio-manufacturing-technology/
*4 New Energy and Industrial Technology Development Organization
Future Procurement Plans
Growing expectations for stable procurement of resources and contribution to sustainable manufacturing enabled us to achieve our target of 20M USD for the current fiscal year during the first half of the year. Responding to strong market demand, CHITOSE intends to continue vigorous dialogue with investors in the second half of the year and beyond.
*Note: All figures are the exchange value of the USD calculated as of September 8, 2023.
Stakeholder’s Comments
Shiseido Company, Limited
"Under our mission of 'BEAUTY INNOVATIONS FOR A BETTER WORLD,' our company is committed to developing cosmetics that are not only good for the skin, but also promotes a healthy and beautiful natural environment. We are working with the CHITOSE Group to build a circular model, maximizing the potential of 'algae,' and integrating it into the earth's system, ensuring resources are not depleted. We will lead the creation of sustainable value, thereby revitalizing the global cosmetics market."
NGK INSULATORS, LTD.
"NGK, a member of MATSURI, is encouraged to develop algae business that contributes to carbon neutrality with our unique ceramic technologies. NGK and CHITOSE Group will extend our collaboration to realize social implementation of the bio industry."
Mitsui Mining & Smelting Co., Ltd.
"Mitsui Mining & Smelting Co., Ltd. is working to co-create a value chain for bio-manufacturing by applying our unique catalyst, separation and purification technologies in order to contribute to the realization of a sustainable society."
Mitsubishi Kakoki Kaisha, Ltd.
"Mitsubishi Kakoki Kaisha believes that algae can be a solution to the global food and energy problems, and this investment is in line with our long-term management vision. We will work closely with the MATSURI project and contribute to the development of the algae business with our technology."
Mers Line Pte. Ltd.
"With the utilization of microalgae, a carbon-free society is just around the corner. We sympathize with the philosophy of CHITOSE Group, 'To live in abundance beyond the next millennium using the ability of living things' and support their activities."
Ikeda tohka Industries Co.,Ltd.
"As a food ingredient manufacturer with over 100 years of history, we harness our cultivated food processing technology to convert algae biomass into a usable form for industries. Through this, we support the creation of a sustainable and carbon-neutral society."
SHINSHO CORPORATION
"Through this investment, we intend to collaborate with CHITOSE Group, in order to build a new resource-recycling business model through carbon recycling and new business development using microalgae."
###
About MATSURI
https://matsuri-partners.chitose-bio.com/en
The MATSURI project aims towards the establishment of an advanced microalgae-based industry. CHITOSE has considerable expertise in large-scale photosynthetic production technologies, and is leading the MATSURI project collaborating with Japanese progressive enterprises. As what MATSURI means in Japanese, CHITOSE keeps leading a festival to develop a sustainable society. If you are interested in MATSURI, please feel free to contact the MATSURI office. Click here to contact us.
Related Information
[Press Release] CHITOSE Group, Successfully Concludes Capital Increase of 7M USD Scale from Shiseido and Forms Strategic Partnership ― Accelerate a Microalgae-based Circular Manufacturing in a Cosmetic Industry —
[Press Release] CHITOSE Group Obtains Funding from Japanese Government(NEDO) for Green Innovation Fund of 400M USD Scale
[MATSURI partner site] Shiseido Company, Limited Joined MATSURI as a Corporate Partner (Japanese)
[MATSURI partner site] Amano Enzyme Inc. Joined MATSURI as an Industry Restructuring Partner (Japanese)
CHITOSE Group Overview
https://chitose-bio.com/
CHITOSE Group is a family of biotechnology companies leading the global bioeconomy. To live in abundance beyond the next millennium using the ability of living things, CHITOSE pursues the possibilities of biotechnology through technological and business development collaborating with its business partners all over the world.
About CHITOSE BIO EVOLUTION PTE. LTD. (head office that oversees entire Group)
Established in October, 2011
Head Office located in Singapore
CEO: Tomohiro FUJITA, Ph. D.
About CHITOSE Laboratory Corp. (responsible for the project)
Established in November, 2002
Head Office located in Kanagawa Prefecture, Japan
CEO: Tomohiro FUJITA, Ph. D.
COO: Rie KUGIMIYA
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230914666208/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kolmar Korea Named One of the TIME’s World’s Best Companies for Sustainable Growth26.12.2024 15:00:00 CET | Press release
Ranks 125th Among 500 Companies Around the GlobeTop 10% in the Environmental Sector Among 3,000 Major Global Companies Kolmar Korea (KRX: 024720) has been recognized by TIME Magazine as one of the World’s Best Companies for Sustainable Growth 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241226863828/en/ Kolmar Korea on TIME's World's Best Companies in Sustainable Growth 2025 (Image: Kolmar Korea) On November 27, TIME, in collaboration with a global market research firm Statista, unveiled a list of the top 500 companies worldwide, demonstrating exceptional sustainable growth. Kolmar Korea took place 125th around the globe and 6th among Korean companies. Notably, it was the only Korean cosmetics company on the list, which featured a total of 23 Korean companies. The rankings were based on an evaluation of revenue growth, financial stability, and environmental impact, each contributing equally to a final score out of 10
Seoul Semiconductor: Philips Lighting Products Ordered to Recall 7-Year-Old Items26.12.2024 08:00:00 CET | Press release
The German District Court of Düsseldorf, on November 19 ruled in favor of Seoul Semiconductor (KOSDAQ:046890) in the patent infringement lawsuits, and also ordered that products manufactured by Philips Lighting and sold since March 2017 be recalled and destroyed. The Court also ruled that a fine of up to €250,000 would be imposed for each violation of this order. On December 17, the German Federal Patent Court also affirmed the validity of these patents, which solidifies the strength of many related patents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241225151382/en/ Application Examples with CRI 70 or Higher (Photo: Seoul Semiconductor) These court orders relate to the core technology used to achieve CRI 70 (Color Rendering Index 70%) or higher, applicable to all home lighting, automotive lighting products, IT flash, and backlights. Since the effects of these judgments are applicable to all products infringing on the pa
ispace-EUROPE and the Italian Space Agency (ASI) Sign Payload Services Agreement to Transport a Laser Retroreflector Array (LaRA2) on the Moon Surface26.12.2024 08:00:00 CET | Press release
Agreement Marks Significant Step Towards Increasing Italy’s Contribution to advancing Lunar Exploration ispace EUROPE S.A. (ispace-EUROPE), the Luxembourg-based subsidiary of ispace, inc., and the Italian Space Agency (ASI) have signed a payload services agreement to transport a Laser Retroreflector Array (LaRA2) to enable accurate position measurements on the Moon via laser ranging experiments, the two organizations announced today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241225137548/en/ The shape of LaRA2, a palm-sized dome (Photo: Business Wire) The agreement marks the first full-scale contract between ispace-EUROPE and ASI, with both organizations looking to joint future lunar development. LaRA2 is a small, robust, and lightweight instrument built to work without any power source and to survive the harsh surface conditions on the Moon for an extended period of time. It features a precise array of retroreflectors
Datopotamab Deruxtecan Application in the EU for Patients with Advanced Nonsquamous Non-Small Cell Lung Cancer Voluntarily Withdrawn24.12.2024 08:00:00 CET | Press release
Daiichi Sankyo (TSE: 4568) and AstraZeneca (LSE/STO/Nasdaq: AZN) have voluntarily withdrawn the marketing authorization application (MAA) in the EU for datopotamab deruxtecan (Dato-DXd) for the treatment of adult patients with locally advanced or metastatic nonsquamous non-small cell lung cancer (NSCLC) based on the TROPION-Lung01 phase 3 trial. The decision to withdraw the MAA was informed by feedback from the Committee for Medicinal Products for Human Use of the European Medicines Agency (EMA). Daiichi Sankyo and AstraZeneca will continue to work to bring datopotamab deruxtecan to patients with lung cancer in the EU who can benefit and are committed to unlocking the potential of this medicine in lung cancer through our robust clinical development program which includes seven pivotal trials in various lung cancer settings. Datopotamab deruxtecan is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo and being jointly developed by Dai
Vertex to Present at the 43rd Annual J.P. Morgan Healthcare Conference on January 1323.12.2024 22:05:00 CET | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that Dr. Reshma Kewalramani, Chief Executive Officer and President, will present at the 43rd Annual J.P. Morgan Healthcare Conference on Monday, January 13, 2025 at 10:30 a.m. ET/7:30 a.m. PT. A live webcast of management's remarks will be available through the Vertex website, www.vrtx.com in the "Investors" section under the "News and Events" page. A replay of the conference webcast will be archived on the company's website. About Vertex Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The company has approved medicines that treat the underlying causes of multiple chronic, life-shortening genetic diseases — cystic fibrosis, sickle cell disease and transfusion-dependent beta thalassemia — and continues to advance clinical and research programs in these diseases. Vertex also has a robust clinical pipeline of investigational
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom