Asuene Establishes First Overseas Subsidiary, "Asuzero Singapore Pte. Ltd.," Aiming to Become Asia's No. 1 Climate Tech Company

TOKYO,Nov. 14,2022 -- Asuene Inc.,a leading climate tech company in Japan,has established its firstoverseas subsidiary in Singapore,Asuzero Singapore Pte. Ltd. (hereinafter"Asuzero Singapore"). Positioning the subsidiary as a central hub for itsbusiness expanding in APAC,Asuene starts full-scale provision of "Asuzero,"the cloud-based climate platform for measuring,reporting and reducing carbonemissions,as well as a one-stop service for decarbonization.

Asuzero has been introduced to more than 500 companies in Japan. Its nexttarget is to become Asia's No. 1 climate tech,and Asuene's ever-evolvingservice lines now include English support and the product Life Cycle Assessment(LCA) function.

The "Singapore Green Plan 2030" was released by the Government of Singapore in2021,setting clear targets for sustainability in Singapore,including CO2emission reduction targets and promotion of green finance. The government hasapproved a budget to raise the carbon tax in 2022,and the entire country isworking toward achieving carbon neutrality. The Singapore Exchange (SGX) hasalso announced that it will gradually require listed companies to disclose GHGemissions for Scope1-3 (*1) and climate-related reports based on TCFD from 2023.

Companies based in Singapore are often responsible for the entire APAC regionas a hub for business activities. Asuene has established Asuzero Singapore tocontribute to decarbonization of entire Asia by driving forward CO2-measuring and reduction initiatives from Singapore.

In the Series B round in 2022,Asuene was evaluated for its high potential forbusiness development in APAC,and raised US$20 million from Pavilion Capital,an investment company under the Singapore government and Temasek,Axiom AsiaPrivate Capital,Salesforce Ventures,Masayuki Mochida from Tybourne CapitalManagement and others.

"Pavilion Capital has been supporting Asuene's Singapore/Southeast Asianexpansion by providing market intelligence and connecting them with localplayers," said Chee Kong Choun,head of Japan Investments at Pavilion Capital."We are confident of their knowledge,products and services,and approach tothe decarbonization of SaaS space,and we wish them the best in bringingJapanese best practices in ESG to the region,and at the same time leveragingon regional insights to eventually go global."

"Singapore has developed initiatives and policies to combat climate change andis promoting them on a national level," said Kohei Nishiwada,co-founder CEO ofAsuene. "We are pleased to develop our business in Singapore to acceleratedecarbonization in enterprise management. We look forward to bringing ourone-stop decarbonization solutions,including Asuzero,the climate cloudplatform for measuring,reporting and reducing carbon emissions,andSustainability Transformation (SX) consultation,to our customers in APAC. Wecontinue to take on the challenge to become Asia's No. 1 climate tech company."

Today many countries impose carbon tax on a per-product basis,and the demandto calculate carbon footprint of products is growing. Through the product LCA function,Asuzero Singapore supports companies in their decarbonization management by measuring and reducing CO2 emissions throughout the supply chain.

About Asuzero Singapore

Company name: Asuzero Singapore Pte. Ltd.

Services: Cloud-based climate platform for measuring,reporting and reducingcarbon emissions

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

CEO: Kohei Nishiwada

Established: November 2022

Address: 180 Cecil Street #12-01,Singapore 069546

About Asuene

Asuene is a leading climate tech company in Japan with the mission,"Making abetter world for next generations." Its cutting-edge service Asuzero is acloud-based climate platform for measuring,reporting and reducing carbonemissions for enterprises,and visualizes such emissions throughout the supplychain for Scope 1-3 in the global standardized frameworks,Greenhouse GasProtocol (*2). Asuene also provides comprehensive SX consultation,includingglobal initiative alignment assistance for TCFD,CDP,SBTi and PCAF.

Image:https://kyodonewsprwire.jp/prwfile/release/M107387/202211019068/_prw_PI1fl_6xedndkx.jpg

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 downstreamemissions

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

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