Nabtesco Corporation, a global leader in railway braking systems and motion control technologies based in Japan, is one of Emerald’s CVC-as-a-Service clients. As part of this partnership, Emerald works closely with Nabtesco to scout, evaluate, and engage with promising start-ups aligned with their strategic priorities. One such case — Nabtesco’s collaboration with the French clean-tech company Tallano Technologies — is a powerful example of how Emerald actively guides and supports its corporate clients throughout the entire innovation journey.
We spoke with Tetsuya Mori, who was instrumental in making this collaboration a success, to learn more about how Emerald helped bring this unlikely transcontinental partnership to life — and what it means for the future of cleantech in rail transportation.
How did Nabtesco get involved with Tallano? Was it through Emerald’s deal flow? What’s the story behind this connection?
Yes, Emerald introduced Tallano Technologies to Nabtesco Railroad Company during one of our regular deal flow calls in July 2022. At the time, Tallano was developing TAMIC®, a proprietary brake particle capture system designed for automobiles and trains — an especially compelling technology for addressing fine particulate emissions from braking, a critical but often overlooked source of pollution.
The potential fit was clear. Tallano’s solution had the potential to align with Nabtesco RR’s long-term goals around sustainability and environmental stewardship. But while interest was piqued, moving from curiosity to collaboration would take more than a single call.
Once Nabtesco expressed interest, how did Emerald help the collaboration move forward?
When we first connected Nabtesco with Tallano, the RR division showed clear interest — but also hesitancy. This was their first time engaging with a start-up, particularly a European one, and they were unsure about how to navigate the process.
To build momentum, I recommended starting with a non-disclosure agreement (NDA) to formalize their interest and enable deeper technical conversations. Emerald then facilitated a series of in-person meetings at Nabtesco’s campus in Kobe between internal stakeholders and Tallano’s leadership.
At that point, Tallano had already completed a successful proof of concept (PoC) with SNCF, the French national rail operator, using their TAMIC® system on a Disc Brake Unit (DBU). That result gave Nabtesco the confidence to proceed with a bench test using their own proprietary Tread Brake Unit (TBU), which is the standard in Japan. After multiple technical discussions, the two companies signed a memorandum of understanding (MOU) in April 2023 and aligned on a PoC framework.
To further strengthen the partnership, I helped arrange a technical site visit: Nabtesco’s engineering team travelled to Paris to meet Tallano’s team and visit SNCF’s testing facilities. This visit proved critical in building mutual trust and understanding. By December 2024, they completed the bench test with over 70% efficiency in particle reduction — a significant validation milestone.
Is this the first real-world deployment of Tallano’s technology? How does Japan fit into the global picture?
Despite its strong technical promise, the TAMIC® system had not been commercially implemented — even in France. This isn’t due to technical limitations but economic ones: determining who should pay for clean air remains a complex challenge.
In this context, Nabtesco’s partnership with Tallano is highly significant. The Japanese market hasn’t historically emphasized brake dust emissions, and no regulations currently mandate their reduction. Yet Nabtesco’s leadership recognized the environmental value of TAMIC® and pursued the opportunity proactively.
The PoC with Nabtesco — and the potential follow-on implementation with JR Hokkaido, who is now actively considering field trials — represents a critical beachhead not just for Tallano in Asia, but globally. Creating early success stories with enthusiastic partners is key to mainstreaming this kind of environmental innovation.
Any other moments where Emerald’s involvement proved pivotal?
Absolutely. While I was initially there to support Nabtesco’s business development team, over time, Tallano’s leadership also began relying on me to help bridge cultural and communication gaps with Nabtesco. One particularly delicate situation arose when Nabtesco’s engineers filed a patent application that inadvertently overlapped with Tallano’s existing IP — a major issue, especially given the agreement in the MOU.
Because I had built strong trust on both sides, Tallano turned to me for guidance. I was able to help de-escalate the issue, clarify misunderstandings, and facilitate a resolution that preserved the relationship. That ultimately allowed the partnership to proceed — and for the collaboration to be publicly announced as a significant step forward.
Conclusion: Emerald’s Role in Enabling CVC Success
This case underscores how Emerald’s CVC-as-a-Service model goes beyond sourcing start-ups. We act as a bridge, a guide, and a hands-on partner — helping our clients not only identify opportunities but also navigate cultural nuances, overcome technical hurdles, and build enduring partnerships. Thanks to this collaboration, Nabtesco is now positioned as a cleantech innovation leader in Japan’s rail sector — and Tallano has taken a key step toward global impact.
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