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CHITOSE Group Obtains Funding from Japanese Government(NEDO) for Green Innovation Fund of 400M USD Scale

2023.03.27

CHITOSE Group Obtains Funding from Japanese Government(NEDO)
for Green Innovation Fund of 400M USD Scale

Chitose Laboratory Corp., the core company of the CHITOSE Group(hereinafter “CHITOSE”), submitted the theme of “Building a global industry originating in Japan based on the direct use of CO2 through photosynthesis” for “The Green Innovation Fund Project (hereinafter ‘GI Fund’) / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material”.
This theme has been selected as a prospective implementing agency by the Japanese government-funded New Energy and Industrial Technology Development Organisation (hereinafter “NEDO”).
The total project cost is approximately 400M USD, and the implementation period is scheduled from FY2023 to FY2030.

CHITOSE is collaborating with other companies/organizations in various positions and industries through the “MATSURI” project to build a new algae-based industry to replace the petroleum-based industry. CHITOSE is working on the development of bio-products, the construction of the world’s largest 5-hectare microalgae production facility and the demonstration of long-term large-scale production (*1) in Malaysia.
The GI Fund project theme that we have been selected as a prospective implementing agency, will develop the algae production technology on a 100 ha production scale with a focus on both economic rationality and environmental sustainability, also the development of a wide range of applications such as chemical products, toiletry, fuels, feeds and foods using microalgal biomass produced directly from CO2 as a raw material.
Through these business activities, CHITOSE will promote the establishment of a global industry originating from Japan based on algae, and contribute to the realization of zero carbon emission by 2050 as advocated by the Japanese government.

This GI Fund will be implemented with 34 partner companies of the MATSURI project operated by CHITOSE, Sumitomo Mitsui Banking Corporation (SMBC), Kyoto University, Hiroshima University, Nagaoka University of Technology, Nagoya University, and Institute of Microalgal Technology, Japan (IMAT).
In addition, CHITOSE will start raising private funds in order to accelerate this project through the GI Fund.

MATSURI partners’ enthusiasm and expectations for the GI Fund for this project
*in no particular order

● ENEOS Holdings, Inc.
ENEOS will take on the challenge of researching and developing hydrocarbon products such as fuels, and oils made from algae that grow by absorbing CO2, in order to realize a carbon neutral society.

● Amano Enzyme
By participating in the MATSURI project with its unique technology, Amano Enzyme will contribute to the establishment of a new industrial structure that supports the circular economy.

● NGK INSULATORS, LTD.
With our unique ceramic membranes, we promote the development of effective separation technologies for the production process of products using microorganisms. We contribute to the creation of the bio-industry and the promotion of its implementation in society.

● NH Foods Ltd.
Our company believes that the industrial application of algae, which can directly utilize CO₂, will play a significantly important role in the realization of a carbon-neutral society. We are very honoured to be part of the project for social implementation and will work on promoting it.

● SHISEIDO CO.,LTD
Under its corporate mission “BEAUTY INNOVATIONS FOR A BETTER WORLD,” Shiseido aims to contribute to a better society by strengthening its circular manufacturing and cross-industry collaboration. The acquisition of this GI fund will further promote the development of this technology.

● KOSÉ Corporation
KOSÉ Corporation, who creates beauty and cosmetics, aims to achieve a decarbonized society in cooperation with the GI Fund led by MATSURI and in collaboration with various partners participating in MATSURI.

● Kao Corporation
Our company has high expectations for the potential of oils and fats obtained from microalgae as a future alternative raw material for natural oils and fats (e.g. palm oil) used in consumer products. Through this opportunity, we will explore the potential of microalgae oils and fats that can be used as a raw material for consumer necessities, and to understand its capability.

● Musashi Paint Holdings Co., Ltd.
Our company would like to develop algae-derived bio-paints in partnership with MATSURI partners, and create businesses that can serve customers worldwide with ‘colour and function’.

● Fuyo Kaiun
It is essential for us being engaged in shipping industry to make sincere efforts to reduce greenhouse gas emissions to zero and we also recognize it as our responsibility to future generations continuing to live on the Earth.
Looking forward to early development of innovative carbon-neutral fuels for merchant ships, that would be achieved through the MATSURI project we believe.

● MITSUBISHI KAKOKI KAISHA, LTD.
The Mitsubishi Kakoki Group has newly launched a closed photobioreactor system for cultivating microalgae as one of its efforts to realize a carbon-neutral society. As one of the companies participating in the MATSURI project, we will continue to develop and propose new solutions using algae and contribute to the creation of a sustainable society.

● SAKATA INX
To achieve our long-term strategic vision “SAKATA INX VISION 2030,” our company will take on the challenge to build new industries and a sustainable society through the use of microalgae with the MATSURI project.

● MORESCO Corporation
MORESCO aims to be a company that “delivers sustainable one-of-a-kind products”, by combining the blending and synthesis technology that we have developed heretofore with resources derived from microalgae.

● Hitachi Plant Services Co.,Ltd.
As a total engineering company, Hitachi Plant Services will contribute to structuring a carbon-neutral algae industry together with MATSURI partners.

● ZACROS(FUJIMORI KOGYO CO., LTD.)
We will challenge the realization of a decarbonized society by utilizing our proprietary culture bag-related technologies (material selection, processing technologies, etc.) that enable mass cultivation of human cells and bioplastics produced by algae.

● Tokuyama Corporation
Tokuyama aims to transform itself into a value-creating company by providing products and services that contribute to solving social issues. By pursuing the potential of microalgae, our company will contribute to the realization of a sustainable society.

● Mitsubishi Chemical Corporation
Mitsubishi Chemical aims to provide chemical products from algae through the GI Fund. We lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet.

● NIPPON FINE CHEMICAL CO., LTD.
Through MATSURI, our company aims to create new environmentally friendly values, realize ‘KIREI’ on the earth, in society and in the future, and make all people around us ‘Smile’.

● Tosoh Corporation
In order to achieve carbon neutrality by 2050, plastic products will be developed using microalgae-derived raw materials provided by the MATSURI project.
● Nissan Chemical Corporation
Nissan Chemical would like to move forward together with MATSURI PJT to achieve carbon neutrality as set forth in its long-term business plan “Atelier 2050.”

● KYODOYUSHI CO., LTD
Through its participation in this project, our company will contribute to the realization of a recycling-oriented society by working towards the low-carbonisation of lubricants, which are indispensable for the effective use of valuable energy resources.

● Ikeda Tohka Industries Co.,Ltd.
The various products produced by our company are widely used in everyday dining situations and contribute to the safety, security and stable supply of food. Our company joined the MATSURI project because we wondered whether sustainable development could be achieved with only the current products derived from the agricultural, fisheries and livestock industries. With a wide variety of MATSURI partners, our company aims to create a carbon-neutral society in 2050.

● Zeon Corporation
Zeon believes that the commercialization of microalgae and its utilisation is one of the elements necessary to realise a carbon-neutral society. Our company is seriously committed to value co-creation, valuing the three words: “Let’s try first”, “Let’s connect” and “Let’s polish up”.

● MORIROKU HOLDINGS COMPANY, LTD.
Through the MATSURI project, the Moriroku Group will jointly focus on
creating new value through the development of environmentally friendly
products and other efforts to realize a carbon-neutral society.

● Nikko Chemicals Co., Ltd.
Through this project, with the partnership companies, our company will provide a variety of materials derived from algae on a global scale to boost MATSURI. We expect that this project, as an advanced initiative from Japan, will become a leader in environmentally friendly manufacturing.

● Niterra
The development of the algae business is expected to play a major role in the realisation of a decarbonised society.
Our Group is committed to contributing towards a sustainable society through this MATSURI project.

● TABÉRUMO CORPORATION
Through our business, we have developed technologies for manufacturing food-grade microalgae raw materials and developing algae products for food use.
Through the Green Innovation Fund project (GI Fund), we will contribute to building a carbon-neutral industry in the food field, including a protein supply system that is predicted to be in short supply due to global population growth and changes in eating habits.

About the commissioned and subsidised projects which have been adopted
● Business/Project name:
Green Innovation Fund project (GI Fund) / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material

● Adopted theme:
Building a global industry from Japan based on the direct use of CO2 by photosynthesis

● Theme overview:
Using microalgae, with sunlight as the energy source and CO2 as a direct feedstock, the commercial production of chemicals such as bioplastics and functional materials, fuels, foods and feeds, with the aim of realizing zero carbon emission by 2050.

● NEDO disclosure information on this matter
Details of the public call:
https://www.nedo.go.jp/koubo/EF2_100190.html (Japanese)
Adoption announcement:
https://www.nedo.go.jp/koubo/EF3_100190.html (Japanese)
Press release on the adoption: https://www.nedo.go.jp/news/press/AA5_101619.html (Japanese)

Note:
(*1) Commissioned by NEDO has commissioned Chitose Laboratory Corp to implement Chitose Laboratory Corp., Ltd. since 2020.
– Press release on adoption: https://chitose-bio.com/jp/news/3514/ (Japanese)
– Press release on the start of operation: https://chitose-bio.com/jp/news/5124/ (Japanese)

About MATSURI
https://matsuri-partners.chitose-bio.com/en
The MATSURI project aims towards the establishment of an advanced microalgae-based industry. CHITOSE has considerable expertise in large-scale microalgae production technologies, and is leading the MATSURI project collaborating with Japanese progressive enterprises. As what MATSURI means in Japanese, CHITOSE keeps leading a festival to develop a sustainable society.

[Video] A story with a heart for the future, the MATSURI project for building the ‘algae’ industry:
The world’s largest microalgae production facility will accelerate from here!
https://matsuri.chitose-bio.com/pages/gallery

CHITOSE Group Overview
https://chitose-bio.com/
CHITOSE Group is a family of biotechnology companies leading the global bioeconomy. To live in abundance beyond the next millennium using the ability of living things, CHITOSE pursues the possibilities of biotechnology through technological and business development collaborating with its business partners all over the world.

About CHITOSE BIO EVOLUTION PTE. LTD. (head office that oversees entire Group)
Established in October, 2011
Head Office located in Singapore
CEO: Tomohiro FUJITA, Ph. D.

About CHITOSE Laboratory Corp. (responsible for the project)
Established in November, 2002
Head Office located in Kanagawa Prefecture, Japan
CEO: Tomohiro FUJITA, Ph. D.
COO: Rie KUGIMIYA

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