Mitsubishi
Canvas Category OEM : Diversified
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries in approximately 90 countries and regions worldwide, as well as a global network of around 1,700 group companies. MC has 10 Business Groups that operate across virtually every industry: Natural Gas, Industrial Materials, Petroleum & Chemicals Solution, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution and Urban Development. Through these 10 Business Groups plus the addition of its Industry DX Group, MC’s current activities have expanded far beyond its traditional trading operations to include project development, production and manufacturing operations, working in collaboration with our trusted partners around the globe.With an unwavering commitment to conducting business with integrity and fairness, MC remains fully dedicated to growing its businesses while contributing to a prosperous society.
Assembly Line
EIG’s MidOcean Energy Announces Strategic Investment from Mitsubishi Corporation
MidOcean Energy, a global liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, announced a strategic investment by Mitsubishi Corporation. Mitsubishi Corp’s investment will accelerate MidOcean’s strategy to create a high quality, diversified, global ‘pure play’ integrated LNG company.
Quaise Energy Raises $21 Million to Accelerate Terawatt-Scale Deep Geothermal Energy
Quaise Energy, the company unlocking terawatt-scale geothermal, announced the closing of a $21 Million Series A1 financing round led by Prelude Ventures and Safar Partners. Mitsubishi Corporation and Standard Investments are among several new investors participating in the round. This latest funding will enhance Quaise field operations and strengthen the company’s supply chain position, while ongoing product development will continue with pre-existing capital.
Quaise is uniquely positioned to harness deep geothermal energy worldwide at 3-20 km below the Earth’s surface. To achieve such a feat, the company has advanced a novel technique to vaporize rock using high-power microwaves in the millimeter range, based on more than a decade of research at MIT and recent testing at Oak Ridge National Laboratory. The original MIT experiments have now been scaled up 100x, with field demonstrations commencing this year.
Mitsubishi Corporation and Amogy with SK Innovation join forces to unlock the potential of Amogy's ammonia cracking technology in Japan and South Korea
Mitsubishi Corporation and Amogy are excited to announce a strategic partnership that will focus on accelerating the adoption of Amogy’s ammonia-to-power and ammonia cracking technology in large-scale hydrogen carrier applications in East Asia, particularly Japan and South Korea.
The joint study set to commence in December 2023 with SK Innovation, will first assess a large-scale deployment of Amogy’s technology, including analysis of costs across the value chain, and explore opportunities for market expansion across the ammonia and hydrogen supply chain. Upon the completion of the initial phase, three companies are looking to explore joint pilot opportunities in the strategic regions.
♻️ Sortera Technologies Closes $30.5 Million in New Funding to Fully Commercialize Its State-of-the-Art Upcycling Facility
Sortera Technologies, Inc., an innovative material sorting company with a recycling platform powered by artificial intelligence, data analytics, and advanced sensors, today announced the close of a $30.5 million Series C funding round led by RA Capital Management-Planetary Health with participation from certain funds and accounts advised by T. Rowe Price Associates, Inc., the Mineral Resources Group, which is a part of Mitsubishi Corporation’s Business Incubation Unit, and Macquarie GIG Energy Transition Solutions. This funding will fuel Sortera’s growth as a major player in the domestic upcycling space.
In just two and a half years of operations, Sortera has demonstrated that its technology platform can accurately and rapidly handle complex sorting of pre-production aluminum and end-of-life mixed metals. Sortera’s first full-scale facility, located in Markle, Indiana, is currently being commissioned to sort up to 220 million pounds of mixed metals per year. By sorting mixed metals into single alloy streams, Sortera enables greater use of recycled material in manufacturing, lowers the costs of metals production, increases the availability of metals for domestic manufacturers, and reduces pollution and greenhouse gas emissions associated with virgin metals production. The resulting high-quality upcycled materials from Sortera’s operation will be put back into the U.S. market, representing a significant contribution to the circular economy movement and to the security of domestic resources. The Series C funds will be used to expand Sortera’s operations in North America and accelerate the company’s growth in the more than $1 trillion metals and recycling markets.
Mitsubishi Corp. to launch $1bn decarbonization fund for startups
Japanese trading house Mitsubishi Corp., together with MUFG bank and others, will launch one of the largest decarbonization funds in Japan, Nikkei has learned. The fund will invest a total of $1 billion in startup companies with promising technologies in areas such as floating offshore wind turbines and sustainable aviation fuel.
Hystar raises USD 26mn to scale up to full commercial operations
Hystar AS, the Norwegian high-tech hydrogen company, today announces a Series B funding round of USD 26mn to rapidly scale-up to full commercial operations with an automated GW-capacity production line by 2025. The injection of capital, raised through equity, will also be used to fuel Oslo-headquartered Hystar’s growth, expansion into new markets, and ability to deliver on larger (100 MW and beyond) projects.
The round was co-led by AP Ventures and Mitsubishi Corporation. Additional investors in the round included Finindus, Nippon Steel Trading, Hillhouse Investment and Trustbridge Partners, alongside existing investors SINTEF Ventures and Firda.
Yokogawa and Mitsubishi Heavy Industries to Undertake AI-enabled Robot System Project for the Nippon Foundation - DeepStar Joint Research & Development Program
The aim of this project is to develop an automatic inspection system that utilizes robots to identify and predict hazards in offshore facilities. The use of a wide variety of robots to enable unmanned operations and thereby reduce the risk of performing inspections on offshore platforms has long been considered; however, the centralized coordination of individual robots is complex as it requires the management of multiple systems and the data that they acquire. Yokogawa has already been engaged in the research and development of a robot service platform that centralizes the management of multiple robots and seamlessly links them with existing control systems. Leveraging the findings of this R&D, this project will build a communications infrastructure and robot system that is well suited for the environment found on offshore platforms, and utilize an AI application to convert for use in offshore platform operations the image and sound data acquired by robots.
Litmus Secures $7 Million Series A Financing From Mitsubishi Corporation
Litmus, an Industrial Edge Computing platform provider, today announced it has completed a $7 million Series A round of financing led by Mitsubishi Corporation. The investment brings Litmus’s total funding since launching its secure Industrial Edge Computing platform to $12.6 million and will help the company quickly ramp up sales and marketing efforts to meet the demand for companies ready to move to Industry 4.0.