West Holdings and GreenBee announced to enter Capital and business alliance.
~ Leverage AI and IoT to drive GX efforts. ~

West Holdings Corporation (President: Eiichiro Egashira, hereinafter "West Group") and GreenBee, Inc. (President & CEO: Sadanori Iwamoto, hereinafter "GreenBee") announced today to enter into a capital and business alliance on July 12, 2024.

1. Background

　Decarbonization efforts are most important topic for all companies and regions under Japanese Government’s commitment of reducing CO2 emissions by 46% by FY2030 compared to FY2013 and achievable of Carbon neutrality*1. West Group has focused its management resources on two businesses areas that are 1) Development of Industrial solar power plants for self-consumption usage and 2) Sales of Non-FIT solar power plants. West Group has made a start for growth by focusing on each business and steadily expanding its construction capacity. However, the market demand is enormous, and the key point for the future is how to capture this demand. GreenBee is the company who is good at solving customer’s needs and challenges with DX services*2 by utilizing AI, IoT, Cloud computing, etc., and has started providing GX services*3 in the renewable energy field since this fiscal year. This time, West Group and GreenBee have entered a capital and business alliance with the aim of ensuring the capture of enormous market demand by mixing the strengths of both companies.

*1 Carbon neutral means to reduce overall greenhouse gas emissions to zero. The same amount of emissions that had to be emitted can be "absorbed" or "eliminated" to achieve zero emissions.
*2 DX services are the services that use digital technology to solve customers' needs and challenges
*3 GX stands for Green Transformation, an initiative to shift to economic activities using pure renewable energy instead of relying on fossil fuels. GX service is a one-stop service that provides the services needed to achieve decarbonization.

2. Details of Capital Alliance

West Group will acquire a portion of GreenBee's outstanding shares.

3. Details of Business Alliance

◆Joint development of "West Sustainable Supreme Suggestion" In Industrial solar power plant development business, West Group and GreenBee will jointly develop a DX system to improve sales efficiency by creating a database of big data accumulated by the West Group, including opinion data, construction records, on-site experience and know-how, and utilizing the latest technologies such as apps, cloud computing, AI, and IoT. In addition, we will introduce strategic and innovative methods utilizing drones, LiDAR, etc. as field survey method.
　Specifically, we will create a proposal with high power generation efficiency using AI and IoT based on a simple simulation of power generation, measurements of roof and ground area using a drone and building strength measurements, and optimal solar module placement considering power generation and demand.

◆Introduction of advanced services to the West Sustainable Standard
“West Sustainable Standard" is a total package product that supports the West Group's carbon neutral initiatives for its customers. The two companies will jointly develop a supply-demand management system that automates operations by using AI to maximize the effective operation of renewable energy recharging and discharging, and by automatically predicting and confirming the deterioration of power generation and maintenance alerts such as equipment replacement, based on equipment information.

◆Promoting efforts to "make renewable energy, transport renewable energy, and store renewable energy.”
We will support the promotion of GX (Green Transformation) efforts in Japan and around the world with AI and IoT. We will consider developing systems such as a portal site for simple simulation of solar power plants, power generation forecasting and supply-demand forecasting for self-commissioning, and supply-demand management for optimal operation of storage batteries.

4. Company Profile

[About West Group]
West Group is a company that aims to become Japan's No. 1 fabless renewable energy power company, with a vision of achieving decarbonization without relying on fossil fuels by promoting renewable energy and energy conservation, especially solar power generation.

Company name : WEST HOLDINGS Co.
Head Office Address : 1-15-24 Kusunoki-cho, Nishi-ku, Hiroshima City, Hiroshima Prefecture
Representative: Eiichiro Egashira, President and Representative Director
Capital : approximately 2 billion Japanese yen
Date of Establishment : March 1, 2006 (Founded: October 27, 1981)
Business Outline : Installation and sales of photovoltaic power generation equipment
　　　　　　　(planning and development, procurement, construction, O&M (operations and maintenance), etc.)
　　　　　　　Planning and development of non-FIT power plants, supply of non-FIT power sources, planning, development and construction of large storage batteries, etc.
Home Page:https://www.west-gr.co.jp/

［About GreenBee]
With the mission of "building a sustainable future with digital technology," GreenBee is committed to creating new value in three core businesses: the GX Service Business, which provides energy management services for a decarbonized society; the DX Service Business, which contributes to improving workflow; and the Technology Licensing Business, which licenses products that utilize GreenBee's proprietary technologies.

Company Name : GreenBee Inc.
Location of Head Office : 2-3-1 Shinkawa, Chuo-ku, Tokyo, Japan
Representative: Sadanori Iwamoto, President and C.E.O.
Capital : 10 million Japanese yen
Date of Establishment : March 16, 2007
Business Overview : Technology software and services utilizing image/video processing technology, AI, IoT, and big data.
Home Page:https://www.greenbee.co.jp/

5. Contact information

West Holdings Corporation Hiroshima Head Office TEL: 082-503-3900
GreenBee, Inc.　URL https://www.greenbee.co.jp/
TAKAHASHI, ISHIZU
e-mail: press@greenbee.co.jp
TEL: 03-6262-8660　FAX:03-5540-0211
8F., Central Square, 2-3-1 Shinkawa, Chuo-ku, Tokyo 104-0033, Japan