Asuene Raises US$20 million in Series B Round, Aiming to Become Asia's No.1 Climate Tech Company through Significant Investment

TOKYO,Oct. 27,2022 --Asuene Inc.,the leading climate tech company in Japan,has raised US$20 million in total Series B round. This brings the cumulative total of investments and loans to US$23 million since the company's inception in October 2019.

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In this round,a total of US$20 million was raised from 14 venture capitals and financial institutions,including Pavilion Capital,an investment company under the Singapore government,and Axiom Asia Private Capital,a leading private equity fund in Asia,as new investors. In addition,in the second close,Asuene welcomed Salesforce Ventures which is known for investing in leading SaaS companies globally,and Masayuki Mochida from Tybourne Capital Management as new investors.

The procured funds will be used to strengthen the recruitment of talented personnel,expand system functions to improve the usability of measuring carbon emissions throughout the supply chain,and enhance system specifications for the global market.

"Through this financing,we expect to recruit and train human resources,expand system functions,and enhance system specifications for global expansion,with a focus on the cloud service 'Asuzero,'" said Chee Kong Choun,head of Japan Investments at Pavilion Capital. "We also expect that the initiatives and efforts of Asuene will enhance measuring and managing the progress of programs and plans related to CO2 emissions reduction."

"Asuene is the leading CO2 and renewable energy platform in Japan and showing very strong growth," said Chris Loh,managing partner of Axiom Asia. "We strongly believe in the company's mission,'Making a better world for next generations,' and the importance of building a sustainable world. We have high confidence in the company's services and are very excited to work together with the highly capable management team through its next phase of growth."

"The issue of climate change is imminent,and as listed companies on the Tokyo Stock Exchange Prime Market are required to disclose more information on their climate change measures,companies need to take stronger measures to combat climate change," said Takuya Hosomura,principal of Salesforce Ventures. "Based on the business they have developed,Asuene can provide such companies a 'one-stop solution for decarbonization' with visualization,target management,and the reduction of CO2 emissions. We are honored to support the company working with its clients to realize 'a better world for the next generations.'"

Asuene will promote decarbonization in all industries,both domestic and international,and create social impact through business growth as a leading climate tech company.

"We are very grateful to all of our existing shareholders for their additional investment in this series B round,and to our new investors who have strengths in B2B SaaS,global finance,ESG,and investments in Asian market," said Kohei Nishiwada,co-founder CEO of Asuene. "We will invest all the funds and resources to become the overwhelming No. 1 climate tech company,providing a one-stop solution for decarbonization management."

About Asuene

Asuene is a leading climate tech company in Japan with the mission,"Making a better world for next generations." Its cutting-edge service Asuzero is a climate cloud platform for measuring,reporting and reducing carbon emissions for enterprises,and visualizes the emissions throughout the supply chain for Scope 1-3 (*1) in the global standardized frameworks,Greenhouse Gas Protocol

(*2). Asuene also provides comprehensive Sustainability Transformation (SX) consultation including global initiative alignment assistance for TCFD,CDP,SBTi and PCAF. Asuzero's contracted orders continue to grow at a significant rate,with an average monthly growth of over +120% and now introduced in 450+ companies.

URL: https://earthene.com/asuzero/en

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Notes:

(*1) Definitions of Scope 1,2 and 3:

Scope1: Direct emissions from owned or controlled sources

Scope2: Indirect emissions from the generation of purchased energy

Scope3: All indirect emissions (not included in scope 2) that occur in the value chain of the reporting company,including both upstream and downstream emissions

(*2) Greenhouse Gas Protocol: Global standardized frameworks to measure and manage greenhouse gas (GHG) emissions

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