Zürich, Switzerland: Emerald has welcomed JERA Co., Inc. (JERA), the largest power generation company in Japan, to join Emerald’s energy fund as a limited partner. The collaboration aims to help JERA achieve its Zero CO2 Emissions 2050 aims amid a fast-changing environment for decarbonization.
JERA was founded in 2015 as a 50-50 joint venture between TEPCO Fuel & Power, a wholly owned subsidiary of Tokyo Electric Power Company Holdings, and Chubu Electric Power. Its mission is to provide cutting edge energy solutions on a global scale. JERA seeks to establish new energy supply models for Japan, while also offering energy supply models established in Japan for other countries that face similar energy issues, creating real impact in the energy space around the world.
JERA’s Zero CO2 Emissions 2050 sees it achieving zero CO2 emissions by 2050, with a 60% cut relative to FY2013 emissions by 2035. Its strategy is based on three approaches:
- Complementarity between Renewable Energy and Zero CO2 Emission Thermal Power Generation
- Establishment of Roadmaps Suitable for Each Country and Region
- Smart Transition
The first approach is an offshoot of Japan’s overarching decarbonization strategy, in which a liquid, non-emitting fuel like ammonia or hydrogen is combusted to provide a stable source of electricity. This requires extensive build-out of clean fuels supply chains, including factories for producing green or blue hydrogen and transport systems to move the fuel around.
JERA is charting a path toward this low-carbon future via JERA Ventures, its corporate venture capital arm with a $300 million budget, launched in 2023. JERA Ventures’ mandate includes investing in technologies that enhance and speed the transformation of the energy system, with an eye toward combating climate change. Its investment in Emerald aims to leverage Emerald’s extensive expertise in new energy technology, including its tie-ups with startups that work at the cutting-edge of sectors like wind, batteries and more.
Some of Emerald’s other partnerships in Japan:
Steel Company Yamato Kogyo joins Emerald as Limited Partner
Mitsubishi Heavy Industries joins Emerald as a Limited Partner
Mitsui Fudosan Joins Emerald’s Industrial Transformation Fund
Mitsubishi Chemical Group Joins Emerald’s as Limited Partner