Innovation Kyoto 2016 Investment Limited Partnership ("KYOTO-icap No.1 Fund"), with Kyoto University Innovation Capital Corporation ("Kyoto iCAP") (Head Office: Sakyo-ku, Kyoto; Representative Director: Kimi Kusumi) as unlimited liability partner, has made an additional investment in Enecoat Technologies Inc. (Head office: Kamigyo-ku, Kyoto; Representative Director: Naoya Kato), a venture company that utilizes the results of research at Kyoto University.

Outline of ○Investment
Enecoat Technologies is a Kyoto University venture established in 2018 to commercialize the results of a research group led by Professor Atsushi Wakamiya of the Institute for Chemical Research, Kyoto University, and is engaged in business with the corporate mission of contributing to the realization of a carbon neutral society through the practical application of perovskite solar cells, the mainstay of next-generation thin solar cells. The company has positioned its corporate mission as contributing to the realization of a carbon-neutral society through the practical application of perovskite solar cells, which are the mainstay of next-generation thin solar cells.

The purpose of the fundraising is to build strategic partnerships to realize the widespread use of perovskite solar cells and to lay the foundation for long-term growth. The funds raised will be used to develop mass production technology for perovskite solar cells and to improve and expand internal systems for manufacturing and sales, thereby strengthening the business and management base of Enecoat Technologies.

Perovskite solar cells are thin and lightweight, yet they have the same power generation efficiency as existing solar cells and can maintain high power generation efficiency even in low-light environments such as indoors. Enecoat Technologies is a world leader in the race to commercialize perovskite solar cells. Kyoto iCAP highly evaluated these points and underwrote 150 million yen of the 1.59 billion yen third-party allocation of new shares issued by Enecoat Technologies. In addition to Kyoto iCAP, 17 other companies participated in this procurement.

List of underwriters

Future Creation No. 3 Fund	Management Company: Sparks Asset Management Co.
Innovation Kyoto 2016 Investment Limited Partnership (KYOTO-iCAP No.1 Fund)	Management Company: Kyoto University Innovation Capital Co.
KDDI Green Partners Investment Limited Partnership	Management Company: SBI Investment Co.
Nikon-SBI Innovation Fund	Management Company: SBI Investment Co.
Hosiden Corporation
Robot manufacturing start-up support investment limited partnership	Management Company: Future Venture Capital Co.
SMBC Venture Capital No.6 Investment Limited Partnership	Management Company: SMBC Venture Capital Co.
F.C.C. Corporation
MMC Innovation Investment Limited Partnership	Management Company: JMTC Capital LLC
Kansai Innovation Network Investment Limited Partnership	Management Company: Senshu Ikeda Capital Co.
Kyobin Shining Future Support Fund No.2 Investment Limited Partnership	Management Company: Kyogin Lease Capital Co.
NGK Insulators, Ltd.
Mitsubishi UFJ Capital No. 8 Investment Limited Partnership	Management Company: Mitsubishi UFJ Capital Co.
Monozukuri No.2 Investment Limited Partnership	Management Company: Monozukuri Ventures Inc.
Kyoshin Innovation C2 Investment Limited Partnership	Management Company: Kyoshin Social Capital Co. Management Company: Future Venture Capital Co.
Chushin Venture Investment Fund No.6 Limited Liability Partnership	Management Company: Chushin Venture Capital Co.
Two other companies

 

Outline of Enecoat Technologies, Inc.

Establishment	January 2018
Business	Research and development, manufacturing and sales of perovskite solar cells
Head Office Location	Kamigyo-ku, Kyoto
President & CEO	Naoya Kato