PowerX Raises 2.46 Billion JPY in the First Half of Series C Funding

TOKYO, JAPAN ― PowerX, Inc. (Head Office: Minato, Tokyo, Japan; Director, President & CEO: Masahiro Ito, hereafter PowerX) today announced the completion of raising 2.46 billion yen in the first half of its Series C funding. The funding was achieved through a third-party allotment capital increase with existing and new investors. As a result, the total funds raised by PowerX to date, including this round, is approximately 25.92 billion Japanese yen.

Investors Participating in this Funding Round

-New Investments in Series C Round:
Toda Corporation
SMBC Nikko Securities Inc.
One other financial institution, among other
-Additional Investments from Existing Shareholders:
Frontive Holding
Spiral Capital, Inc.
Chugin Capital Partners Co., Ltd
Employee stock ownership plan and others

Business Progress and Future Outlook

PowerX is steadily progressing in the shipment and deployment of its battery energy storage products and services. Since the mass production of our battery-powered ultrafast EV charger, the “Hypercharger,” began last autumn, more than 60 units have been shipped, with chargers now widely deployed across Japan at car dealerships, roadside stations, and commercial buildings.

Additionally, production of our stationary energy storage systems is set to increase at our partner factory in Tamano City, Okayama Prefecture, in response to the large-scale installation of grid storage battery projects expected to begin later this year. As a result, our production pace will rise from one unit every two days to one unit per day. In the energy supply business, we have also started providing renewable energy to office buildings in the Tokyo area, marking another important step achieved this summer.

Looking ahead, we will continue to focus on supporting the transition to a decarbonized society by delivering innovative battery energy storage solutions from our domestic production and development hubs in Japan.

Comment from Director, President & CEO: Masahiro Ito

“We are truly grateful for the investment from some of Japan’s leading companies in the first half of our Series C round.PowerX has entered a growth phase, and we are steadily advancing mass production, shipments, and product operations to meet increasing demand. As Japan accelerates its adoption of renewable energy, large-scale batteries must offer not only competitive pricing and performance but also the reliable maintenance and support that domestic production provides. To meet these needs, our entire team is refocusing and strengthening our efforts as we continue to push forward.”