The agreement enables Moixa to launch GridShare in the rapidly growing Japanese battery market. Itochu will have exclusive marketing rights in Japan for the Gridshare Client. GridShare is software that uses AI technologies to perform optimal control of energy for customers in various layers, including general consumers, power producers, and power transmission and distribution utilities.
Itochu, which is ranked 215th in the Fortune 500, will also help fund international expansion by investing £5 million ($7 million) in Moixa. Itochu will also work with Moixa to promote GridShare to address the growing market for battery management services.
GridShare optimizes the performance of batteries and can also manage large fleets of devices to help support solar generation, control vehicle charging and deliver services to the electricity grid.
Koji Hasegawa, General Manager of Industrial Chemicals Department at ITOCHU, said, “Moixa’s GridShare will help our customers get more value for their home batteries and will offer solutions to help our partners manage Japan’s low-carbon transition.”
The Itochu partnership further strengthens Moixa’s relationships in the country, following investment last year from the country’s largest utility, Tokyo Electric Power Company, and a partnership with Hitachi to develop a smart energy grid in the Isles of Scilly.
Simon Daniel, CEO of Moixa, said, “Itochu is a major player in the global battery market and this partnership provides a real opportunity for us to expand our business in Japan and provide GridShare technology to many global battery companies.”
Moixa will now seek to expand its GridShare partnerships with Japanese utilities and electric vehicle manufacturers and to market services to electricity networks. It is also planning trials in the US and Europe this year.
GridShare is currently delivering services across the UK for contracts supported by major utilities, network operators and public bodies such as the European Regional Development Fund, the Department for Business Energy and Industrial Strategy, the Department for Energy and Climate Change and Innovate UK.
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