1、1Energy Report 2022We help you in every step of your innovation journeyPartnering with the largest organizations worldwide gives us a line of sight to identify the main pain points affecting each industry.We then focus on sourcing the best startups that can provide the best solutions to these challe

2、nges.By collaborating with startups,corporations increase operational efficiencies,decrease costs,find new product lines,and become more innovative from the core.450+Corporate Partners50+Offices Worldwide50,000+Carefully curated international startups in our networkGlobal ReachOne of our greatest am

3、bitions is to make our ecosystem accessible wherever you are.With offices across the world,were proud to be the worlds largest innovation platform by geographic reach.$12bn Plug and Plays startup community has raised$12bn in venture funding JOIN THE PLATFORM PNPTC.COM/JOINWe connectthe best technolo

4、gy startups and the worlds largest corporations.MunichParisAmsterdamBeijingTokyoClevelandValenciaFrankfurtStuttgartSingaporeJakartaAbu DhabiNanjingShanghaiMadridMilanNorthwest ArkansasBangkokKyotoSo PauloDetroitNorth DakotaBen GuerirGenevaViennaTopekaOsakaJohannesburgSeoulTorontoZhengzhouChicagoShen

5、zhenBarcelonaIstanbulWuhanWuxiHamburgAntwerpCairoAlbertaSilicon Valley HeadquartersNur-SultanRiyadhHyderabadSavannahBaselModenaUzbekistanUnited Kingdom2IndexOverview of Carbon Neutrality TrendsTrends in Technology Development and Innovation for Decarbonization in the Energy IndustryIntroductionCorpo

6、rates x Startups Case StudyStartups Introduction in DecarbonizationClosing Remarks458141720Energy Report 20223IntroductionThe number of countries that have pledged carbon neutrality within a fixed timeframe has increased rapidly from 2019 to 2021.Last year,resource-enriched countries such as Austral

7、ia and Saudi Arabia also declared Net Zero targets.Countries are moving more toward decarbonization,following the lead of the European Union counties to the whole international community.So,what brought these changes to the international community in just two years?One of the reasons is the impact o

8、f the COVID-19 pandemic.As a result of the pandemic,the move toward a decarbonized society became more than just a response to climate change risks.It has now become one of the most critical measures for economic recovery and stimulus.Decarbonization is expected to become a new economic growth drive

9、r and measure to improve employment.In this context,the energy industry,from which greenhouse gas(GHG)emission takes up about 85%of the total,is at the core of the decarbonization field.Governments are encouraging innovation and revitalization in the energy industry by easing policies and providing

10、grants for a drastic transformation.Investors,especially in Europe and the United States,have been investing in innovation in the decarbonization market.These environmental changes have enabled many startups to enter the deep tech energy market,a field that usually requires large R&D expenditures an

11、d capital investments.In addition,other industries are entering and investing in the market more rapidly compared to the past.Existing players are being required to quickly adjust their business portfolios to maintain their position in the market.To enhance the speed of innovation,which is often lac

12、king due to the Not Invented Here or NIH bias,they must focus on complementing capabilities and creating new businesses through strengthened collaboration with startups.In this report,well discuss domestic and international policy trends focusing on decarbonization-related technologies,underlying te

13、chnologies to achieve carbon neutrality,and collaborations between large companies and startups in the energy industry.Well also introduce several startups with outstanding decarbonization technologies selected in Plug and Play Japans accelerator program.Energy Report 20224Overview of Carbon Neutral

14、ity TrendsXThis chapter will discuss trends in the international community regarding carbon neutrality and Japans priority measures toward carbon neutrality in 2050.Movements in the international community On November 13,2021,the Glasgow Climate Pact agreement was adopted at the United Nations Clima

15、te Change Conference(COP26),attended by approximately 200 countries.The UN Secretary-General Antonio Guterres described the Glasgow Climate Pact agreement as a reflection of the state of interests,contradictions,and political will in the world today.”Coal-fired power was determined to be“phased out.

16、”While the Glasgow Climate Pact agreement is seen as a compromise,we can see significant progress and achievements by the international community in reducing CO2 emissions during the two years between COP25 and COP26.Increased carbon neutrality pledges with a fixed timeframe As shown in Figure 2,as

17、of December 2019,121 countries have pledged to achieve carbon neutrality by 2050.However,this doesnt mean weve reached a global agreement.If we look at the CO2 emissions from these countries,it only takes up about 18%worldwide.Also,these countries are either EU countries or small countries outside E

18、urope.However,by the end of COP26,countries responsible for 88%of the worlds total CO2 emissions,including all G20 countries,had pledged carbon neutrality by a fixed timeframe.These countries include major countries such as China,Japan,and the U.S.and fossil fuel resource-rich countries such as Aust

19、ralia and Saudi Arabia.This is definitely one of the major achievements of COP26.Energy Report 2022Fig.2 Created based on Ministry of Economy,Trade and Industry,COP26 Outcomes and Future Trends”(p.13)(https:/www.rite.or.jp/news/events/pdf/kihara-ppt-kakushin2021.pdf)Enhancing cooperation and commitm

20、ent among major countries to reduce methane emissions The Global Methane Pledge(GMP)has been launched.GMP calls for a 30%reduction in methane emissions,a type of greenhouse gas,by 2030 compared to 2020.More than 100 countries have agreed to this goal following the United States and the European Unio

21、ns leadership.Moreover,the United States and China,which have been under economic conflict,issued a joint declaration during COP26 agreeing to cooperate more closely on climate change measures and take action on a range of issues,including reducing methane emissions,transitioning to clean energy,and

22、 accelerating decarbonization2.In addition,14 countries,including Japan($10bn/5 years)and the United States($4bn/year until 2024),have pledged new commitments to support developing countries in achieving the goal of$100 billion per year for developed countries.Policy development in Japan Japan needs

23、 to fundamentally change its industrial structure in order to achieve Net Zero by 2050.The next decade will be the decade of competition,as it will require large-scale investments by the private sectors in technology development,demonstration experiments,and commercialization3.In December 2020,the M

24、inistry of Economy,Trade,and Industry(METI)announced the Green Growth Strategy through Achieving Carbon Neutrality in 2050.In June 2021,a revised version with more specifics was released.In the energy industry,efforts to achieve Net Zero by 2050 are not seen as a cost but rather an opportunity for g

25、rowth,bringing new business opportunities.The number of initiatives intended to boost economic growth and employment is also increasing.METI has committed to actively supporting activities for carbon neutrality in 2050 by selecting 14 priority fields,which are expected to grow,and setting specific g

26、oals for each industry.Energy Report 20226Fig.3 Cited from Ministry of Economy,Trade and Industry,Green Growth Strategy(Overview)”(p.1)(https:/www.meti.go.jp/english/policy/energy_environment/global_warming/ggs2050/pdf/ggs_overview_all.pdf)Other aspects of the Green Growth Strategy include tax incen

27、tives to stimulate investment toward carbon neutrality,guidance policy calling for the financing of innovative technologies,regulatory reform,and standardization to accommodate new technologies to create demand and reduce prices.The strategy also outlines specific policy instruments to encourage pri

28、vate sectors.As of December 2021,the Green Innovation Fund has already started to support 18 specific projects in the Green Power,Energy Structure Transformation,and Mobility-Related Industrial Structure Transformation.Depending on each players performance in the energy industry over the next 10 yea

29、rs,their market position after 2030 will change dramatically.Some companies may surprisingly become major players;on the other hand,current major players may become much less impactful than they currently are.The future of those companies depends on their challenges during this decade.Energy Report

30、20227Fig.4 Created based on:Ministry of Economy,Trade and Industry,The New Energy and Industrial Technology Development Organization,Green Japan,Green Innovation (https:/green-innovation.nedo.go.jp/en/project/)Trends in Technology Development and Innovation for Decarbonization in the Energy Industry

31、As shown in the METIs Green Growth Strategy Through Achieving Carbon Neutrality in 2050(Figure 5),to achieve Net Zero by 2050,demand for decarbonized power sources will arise associated with the expansion of electrification in the manufacturing,transportation,and business/household sectors.For indus

32、tries like steel,chemicals,mobility,and clean fuels are also necessary,along with electrification.In case of the unavoidable use of fossil fuels,carbon offset activities,such as afforestation or DACCS,will be required.Fig.5 Citation:Ministry of Economy,Trade and Industry,Agency for Natural Resources

33、 and Energy,Japans Energy 2020:10 Questions for Understanding the current energy situation.”(p.6)(https:/www.enecho.meti.go.jp/en/category/brochures/pdf/japan_energy_2020.pdf)However,the realization of this vision depends on developing several key underlying technologies.The areas Plug and Play Japa

34、ns Energy vertical focuses on are:Clean power supply Clean fuel CO2 Separation,Recovery,and Utilization Energy Report 20228Clean power supplyImproved efficiency of renewable energy uses The Ministry of Economy,Trade and Industrys Outlook for Energy Demand in FY2030 sets a target for renewable energy

35、 to account for 36-38%of total electricity generation in 2030.This is almost double the 19.8%share in 20204.Furthermore,despite the fact that electricity demand is expected to increase in 2050,the current situation is such that the target for renewable energy is set at 50-60%.Many people believe tha

36、t itll be difficult to achieve the target even with the prospect of offshore wind power,which is currently under construction,because of the problem of suitable sites for installing renewable energy sources.To get as close as possible to this goal,we believe that further efficient use of existing re

37、newable energy facilities is important,as well as innovations that increase the efficiency of power generation,such as perovskite solar cells.Energy Storage System(ESS)and Distributed Generation Optimization(VPP)technologies are key to this.Next-generation storage battery In order to increase the ef

38、ficiency of renewable energy use,long-term stable power sources are expected to be combined with storage batteries,etc.According to Yano Research Institutes Research on the Global Market for Stationary Storage Batteries(ESS),the market for power grid applications and industrial and commercial applic

39、ations,in particular,is expected to grow significantly.In 2030,the market for stationary batteries alone is expected to reach 101,662 MWh,about three times the 2020 level,and according to the IEA,the storage battery market size will reach$278bn in 2027,and by 2050,storage batteries will account for

40、60%of the$1.2trn clean technology market5.However,the core minerals of lithium and cobalt are extremely expensive components in storage batteries,and research and development of new high-performance materials are essential to reduce the overall cost of storage batteries and improve their performance

41、 and quality.Since they use rare metals such as nickel and cobalt and large amounts of energy,itll be important to promote reuse and recycling.Renewable energy is great as its both a clean power source and the source of green hydrogen.Still,limitations such as geographic advantage and limited site a

42、rea require more than just cleaner power,as shown in Figure 5.Energy Report 20229Clean power supplyDistributed power supply optimization The amount of electricity generated from renewable energy sources is greatly affected by weather conditions,and a base power source such as thermal power generatio

43、n is necessary to respond quickly to changes in demand and ensure a stable supply of electricity.Virtual Power Plant(VPP)technology makes it possible to realize a stable supply of renewable energy.A virtual power plant(VPP)is an energy resource on the customer side,a power generation facility direct

44、ly connected to the power grid,and a storage facility that is controlled by the owner or a third party(including reverse power flow from the energy resource on the customer side)to provide the same functions as a power plant.In addition,the amount of demand on the demand side can also be adjusted,en

45、abling more flexible and efficient adjustment of the supply-demand balance.This technology can be said to contribute to a decarbonized society by replacing thermal power generation through the optimization of renewable energy sources to achieve a stable supply and maximum utilization of renewable en

46、ergy sources.Along with technological innovations,new business models are also emerging to expand the use of renewable energy.Power-X Corporation is planning a business model in which offshore wind power is stored in batteries on site and transported by ship to be provided.In addition to the benefit

47、s of disaster resilience,offshore wind installations can be extended to locations where wind resources are abundant.Other startups,such as SolarDuck(Netherlands),are also challenging the potential of offshore floating solar power generation to expand the use of renewable energy.Of course,the economi

48、cs and feasibility of this project will need to be watched on an ongoing basis.New decarbonized power supply-fusion technology Until about two years ago,it seemed most people thought of fusion power generation as a pipe dream that would still cost a lot of money and time.The total cost of ITER,a joi

49、nt research and development project that began in 1985 and involved seven countries(Japan,Europe,the U.S.,Russia,South Korea,China,and India)is estimated to be$25bn(about 2.85trn yen),and its said to be difficult to complete.Last year,however,fusion technology suddenly became a reality with frequent

50、 news stories such as the nearly$2bn investment in fusion startups by Jeff Bezos and Bill Gates.Currently,there are about 35 fusion startups globally(three in Japan),and at least five or more have disclosed concrete plans for commercialization by 2030.Of course,there is no guarantee of success,and l

51、ong-term,large-scale investment is still required.Nevertheless,private funding and startups are expected to drive not only the realization of commercialization but also the evolution of related technologies and the creation of diverse business models.Energy Report 202210Clean fuelGreen hydrogen Curr

52、ently,there are three types of hydrogen,and the production process of gray hydrogen,which is made from fossil fuels,emits CO2.“Blue hydrogen recovers the CO2 emissions and reduces them to zero using CCS/CCU technology.CO2-free hydrogen produced by water electrolysis using renewable energy sources is

53、 called green hydrogen,”which is the hydrogen fuel with the highest environmental value.Green hydrogen is expected to decarbonize various sectors in order to achieve Net Zero in 2050,such as power generation(fuel cells,turbines),transportation(automobiles,ships,aircraft,railroads,etc.),and industry(

54、steelmaking,chemicals,oil refining,etc.).Although there are also high expectations for green ammonia and methanation(which can utilize existing supply chains and infrastructure)and e-fuel(which can be easily transferred to existing vehicle engines),green hydrogen is required in the production proces

55、s for all these fuels.Currently,the production cost of gray hydrogen is 1-2 euros per kilogram,while green hydrogen is at the 3-8 euros per kilogram level(there are regional differences).Further cost reduction is necessary for viable economics7.The economics of green hydrogen is determined by two pr

56、imary factors:the cost of renewable energy and the cost of hydrogen production.Regions with access to low-cost and abundant renewable energy resources will,of course,have an advantage in hydrogen costs.For example,compared to Japans hydrogen cost target of 20 yen/Nm3 in 20508,some regions in the Mid

57、dle East,Africa,Russia,the United States,and Australia are considered leading locations for hydrogen production,which is expected to be about 12 to 17 yen/Nm3(*9).Other than this regional factor,the cost of water electrolysis equipment and its efficiency is also an important key.Many startups are wo

58、rking in this area,and their new technological developments are expected to reduce the cost of hydrogen production.For instance,Enapter has developed an AEM(Anion Exchange Membrane)water electrolyzer that uses proprietary technology and is modular,that can scale effectively.According to their strate

59、gy,R&D and production plans are underway to achieve one-tenth of the current cost by 2030,which will be a remarkable technology for accelerating green hydrogen cost reduction.Industrial sectors such as steelmaking,chemicals,and petroleum refining will have difficulty achieving 100%electrification.In

60、 the mobility field,while electric vehicles are expected to become more widely used,fuel-driven cars,ships,and aircraft are predicted to remain as such.In these fields where its difficult to shift to electrification,innovation in CO2-free clean fuels is essential.Energy Report 202211Clean fuelBiofue

61、l As mentioned in the previous section,the mobility field,especially in ships and aircraft,is a field where fossil fuel use remains necessary due to high technical hurdles to achieving electrification.As a result,switching to green fuels is necessary.Luckily,its relatively easy to replace existing f

62、ossil fuels with biofuels due to the resemblance of both types of engine design.There are basically three types of biofuels:bioethanol as a substitute for gasoline,biodiesel as a substitute for diesel oil,and biojet fuel for aircraft,which is particularly becoming a really hot area of focus lately.T

63、he reason for this is that the International Civil Aviation Organization(ICAO),an organization affiliated with the United Nations,has recently established long-term low-carbon goals and has approved the use of bio-jet fuel as one of the means to achieve these goals,thus the market size is expected t

64、o expand more10.The IEA predicts that about 40%of aircraft will be powered by bio-jet fuel by 2050 11.Currently,the main issues related to the widespread use of biofuels are their high cost and concerns about stable supply.Since biofuels are derived from forests and cultivated plants,technological d

65、evelopment and innovation are required to reduce production costs while also taking the natural environment into consideration.Moreover,as with the utilization of other biomass resources,the key will be whether the supply volume is sufficient to meet the demand for a stable supply over the long term

66、.Energy Report 202212CO2 separation,recovery,and utilizationDifferent countries and regions have different approaches to achieving carbon neutrality,but its expected that theyll eventually continue to use fossil fuels for a certain period.In Japan,even if zero CO2 emissions are achieved by 2050,foss

67、il fuel is assumed to be used in areas where decarbonization will be difficult(Figure 5).Also,before we finally reach 100%utilization of clean power sources and clean fuels,the CO2 emitted by fossil fuels must be captured to the maximum extent possible and offset through storage(CCS)or utilization(C

68、CU).According to Lux Research,CO2 can be converted into six products:building materials,chemicals,carbon additives,fuels,polymers,and proteins.The global market size for CO2 utilization is projected to reach$70bn in 2030 and$550bn in 204012.Furthermore,NEDO forecasts that the CO2 separation and reco

69、very market alone will be worth 12trn yen per year by 205013.NEDO has decided to allocate up to 38.23bn yen from the Green Innovation Fund to develop CO2 separation and recovery technology.The fund has earmarked about 200bn yen for investments in CO2 utilization,such as plastics and concrete areas14

70、.There are many elemental technologies for CO2 capture and utilization,and recently direct air capture(DAC)technology has been attracting much attention.Capturing and utilizing CO2 in the exhaust gas will reduce CO2 emissions to zero.DAC technology makes it possible to directly separate and captures

71、 CO2 from the atmosphere,enabling harmful emissions and achieving even higher environmental value.While DAC technology is regarded as a dream technology,at the current stage,significant cost and energy consumption improvements are needed for commercialization.The application and experimental test of

72、 the use of CO2 separated and recovered by DAC is gaining momentum in the field of e-fuel,where automakers are taking the lead.E-fuel is defined by Concawe(Conservation of Clean Air and Water in Western Europe)as synthetic fuel obtained by reacting green hydrogen obtained by water electrolysis using

73、 renewable energy,with CO2 recovered from industrial emission sources or directly from the air.”This e-fuel is an important technology for reducing CO2 emissions in the fuel sector.However,to achieve true carbon neutrality,air-derived CO2 by DAC or biomass-derived CO2 technology is necessary.Current

74、ly,major European automakers Audi and Porsche,which have advanced gasoline engines,are developing e-fuel by combining with DAC technology.For example,Porsche and Siemens are leading the Haru Oni project,which will produce carbon-neutral fuel with green hydrogen from wind power in the Magallanes Regi

75、on of southern Chile and CO2 captured by DAC.This project will begin in mid-2022,and the production capacity is expected to be expanded in two phases:approximately 55 million liters by 2024 and 550 million liters by 2026.In addition to Siemens and Porsche,Enel,ExxonMobil,Gasco,and ENAP are also part

76、icipating in the project,and their future expansion development is worth expecting15.Energy Report 202213Corporates x Startups Case StudyThe energy sector has always been a difficult field for startups to enter due to high barriers such as:Requiring large R&D expenditures and capital investments Hig

77、h industry safety standards Stable supply And,a high level of risk management However,following the reforms of gas deregulation and electricity deregulation,the energy industry is gradually opening up.With the evolution of digital technology and the push for a decarbonized society,the energy industr

78、y is facing a fundamental transformation phase in its existing industrial structure and supply chain,and the era of free competition has begun.This change is attracting investment in the energy industry,and startups are finding more opportunities to enter the deep tech sector,which is inherently dif

79、ficult to enter,and areas that require large capital investments.Existing players are likely to be unable to keep up with changes in the overall market with their old-fashioned self-focused approach,and theyre now seeking collaborative opportunities with startups.Collaboration between major companie

80、s and startups is expected to have a positive impact on the energy industry as a whole and contribute significantly to accelerating innovation.Plug and Play Japans corporate partners,Electric Power Development Co.,Ltd(J-POWER)and Chiyoda Corporation(Chiyoda Corp),are actively collaborating with star

81、tups with an open mind as key players in the energy industry.This report will introduce the efforts of these two companies and representative examples of their collaboration.Energy Report 202214J-POWER owns hydroelectric,thermal,geothermal,wind,and other power plants throughout Japan,which it sells

82、to electric power companies and others throughout the country using transmission and substation facilities owned by its group company,J-POWER Transmission Network Co.,Ltd.They have been actively investing and expanding businesses not only in Japan but also overseas since the early 2000s.J-POWER is c

83、urrently engaged in innovation activities,business collaborations and PoCs,and investments with many startups.Especially in the operation and maintenance of power generation facilities and on-site safety management,J-POWER actively collaborates with startups that possess superior AI technology.We be

84、lieve that strengthening the internal innovation promotion structure and thorough communication with the field on-site are the key success factors for the above J-POWER projects.In a rapidly changing business environment,including climate change issues,J-POWER believes its important to take new acti

85、ons with a sense of speed for the companys medium to long-term growth.In October 2018,the company established an innovation team in the Corporate Planning Department to collaborate with startups and industrial companies to build a structure that enables rapid decision-making.Furthermore,in February

86、2021,the DX Promotion Strategy Department was established to accelerate DX promotion by supporting the business divisions initiatives and acting as a coordinator both internally and externally.With this structure,the company can respond quickly to collaborations with startups and accelerate innovati

87、on activities.Theres a limit to what innovation activities can be promoted by the innovation team alone,so its necessary to convince the field on-site team and obtain their cooperation.For example,in the case study with ACES,the J-POWER member himself made a demonstration video using ACES AI technol

88、ogy and introduced it to the field on-site team with a very thorough communication effort.The team also quickly shared the project achievements with the HR department and asked them to announce them throughout the company,thereby expanding awareness of the project and increasing motivation for AI im

89、plementation within the company.J-POWER will continue to expand the awareness of business departments and the field on-site through a series of such small successes.Energy Report 2022Examples of collaboration with startups Speech recognition AI startup Hmcomm(Japan):OM(Operation&Maintenance)sophisti

90、cation by developing an inspection report documentation application using voice AI analysis at a wind power plant.Natural Language Understanding(NLU)and conversational AI startup Allganize(USA):Application of chatbots to employee inquiry response work,using Machine Reading Comprehension(MRC)AI and s

91、mart search for power plant failure cases.AI x Image recognition startup ACES(Japan):Using Image Processing AI Technology to detect hazardous areas and workers at work sites.AI startup GAUSS(Japan):Using natural language processing AI technology to check safety measures during work planning and prep

92、aration.15Chiyoda Corp is a leading Engineering,Procurement,and Construction(EPC)firm in Japan,and has extensive experience in the design,procurement,and construction(under lump-sum contracting services)of large-scale energy plants,including petroleum refineries,petrochemicals,and liquefied natural

93、gas,both domestically and internationally.In recent years,to respond to rapid changes in the domestic/international energy industry and the needs of their clients,Chiyoda Corp has been working to develop technologies and businesses for digital transformation(DX),new energy,and decarbonization soluti

94、ons to improve the value of their services.To accelerate innovation activities and collaboration with startups to create new value in the mentioned areas,Chiyoda Corp joined Plug and Play Japan in May 2021,in addition to their activities at Plug and Play Headquarters in Silicon Valley,US.Recently,th

95、e collaboration agreement with Blue Planet Systems Corporation(US)and Mitsubishi Corporation for the production of concrete raw material(aggregate)using CO2 has been covered in many news articles.Among the areas of CO2 capture and utilization,its use in concrete is particularly promising,and some pr

96、edict that construction materials will account for 86%of CO2 utilization sales by 2040,making it the largest segment of CO2 utilization14.Since 2012,Blue Planet Systems Corporation has been developing a technology to capture CO2 from exhaust gasses as calcium carbonate to produce aggregate,a raw mat

97、erial for concrete.Chiyoda is participating in Blue Planets demonstration project in Silicon Valley and is leveraging Chiyodas chemical and engineering expertise to establish and commercialize the technology.Energy Report 2022*At this point,the focus is on demonstration testing and commercialization

98、 in the US,but its expected to expand into Japan as well.16Energy Report 2022Startups Introduction in DecarbonizationBy the end of this report,wed like to introduce five amazing startups in the energy sector:CO2 footprint visualization solution,biomethanation,green hydrogen production water electrol

99、yzer,and waste-to-energy solution,all of which are currently attracting a lot of attention in the decarbonization sector.Persefoni has created an AI,SaaS-based intelligent carbon footprint management and reporting platform for organizations and investee companies that enables simplified sustainabili

100、ty reporting and disclosure.The platform is enabled through a centralized,cloud-based application that allows organizations to replace manual processes and calculation methods with a user-friendly,collaborative,digital approach.Built on top of the Greenhouse Gas Protocol for Carbon Accounting,Persef

101、oni provides a real-time carbon footprint by enabling organizations to make the most of their existing data and create plans to incorporate new data.By using the platform,users will be able to measure and understand their carbon footprint and eventually be able to reduce their carbon footprint and s

102、implify the process of both internal reporting and external disclosure.https:/ is commercializing a breakthrough,scalable technology that converts electricity into methane(the primary component of natural gas).By using CO2 as a feedstock gas,the company can efficiently convert electricity into renew

103、able natural gas for power storage,transportation fuel,or even power transmission through natural gas networks.Electrochaea has developed a commercially viable and disruptive solution for utility-scale energy storage,grid balancing,and carbon reuse.Its proprietary process converts low-cost residual

104、electricity and CO2 into pipeline-grade renewable gas,which can be injected directly into the existing natural gas grid.https:/ Report 2022Startups Introduction in the DecarbonizationEnapters mission is to replace fossil fuels with affordable green hydrogen using modular Anion Exchange Membrane(AEM)

105、electrolyzer technology that is scalable for power,industrial,heating,and transportation applications.The companys AEM electrolyzer is a fully modular,stackable hydrogen production system,with each unit producing 500 NL per hour of 99.95%pure on-site green hydrogen.With the optional dryer module,a p

106、urity of 99.999%can be achieved.EL 2.0 and Dryer 2.0 are independent machines,each with its own control system,and the best way to control them is through the Enapter energy management system,which allows for complete monitoring and control via a web dashboard and mobiles.Enapters AEM electrolyzers

107、are preferred because the electrolyte is less corrosive than traditional alkaline electrolysis and the membrane electrode assembly allows for flexible operation similar to Proton Exchange Membrane(PEM)systems.The advantage of AEM over PEM systems is its capability to use non-platinum group metal cat

108、alysts and other low-cost stack materials,which solves the concern for the sustainability of the technology.Moreover,the companys core competitive advantage is the ability to miniaturize the electrolyzer,mass produces it,and ultimately commoditize it,which makes AEM a sustainable way of producing gr

109、een hydrogen.https:/ Report 2022Startups Introduction in the DecarbonizationZeroboard develops and provides“Zeroboard”,a cloud service that streamlines companies CO2 emissions calculation,reduction management,and compliance with reporting and market disclosure systems.The platform calculates and vis

110、ualizes CO2 emissions based on the GHG Protocol,an international standard,by simply entering or configuring the necessary information,reduction management(simulation function for the cost-effectiveness of various decarbonization solutions),and reporting in a variety of formats(TCFD disclosure,Energy

111、 Conservation Law,Global Warming Law,prefectural ordinances).The system is unique in that it enables efficient data collection through data linkage with external systems and primary information acquisition from suppliers in the calculation of supply chain emissions,and has already formed partnership

112、s with banks(MUFG),electricity and gas companies cush as Kansai Electric Power,and local governments such as Odawara City.By increasing the number of data linkages,theyre providing network effects to user companies.Another attractive point is that the entry model is priced from 5,000 yen/month per s

113、ite,making it easy for small and medium-sized enterprises to adopt.https:/zeroboard.jp/Zeroboard（Japan）Enexor develops to convert organic,plastic,and biomass waste into electricity and thermal energy at low cost.By deploying its technology,the company aims to solve the problem of plastic waste recyc

114、ling.The technology features 12 different waste-to-energy conversions,is modular,and is easy to transport and install.The remote monitor system ensures that all units are operating optimally at all times.The technology provides the value of a stable supply of green energy from waste and also CO2 neg

115、ative emissions value.https:/ Report 2022Closing RemarksAfter the reforms of gas and electricity deregulation,the energy industry became more open.Compared to the market when it was still dominated by infrastructure companies,in the past two to three years,weve seen a fundamental change in the entir

116、e industry.The realization of carbon neutrality may be the beginning of a truly free competition era within the energy industry.The entire energy supply chain will change dramatically as fossil fuel use is drastically reduced and distributed power sources such as renewable energy increase.Consumers

117、are also becoming more environmentally conscious.With an increasing number of consumers having the awareness and values in favor of clean energy and living an eco-friendly lifestyle,weve now entered an era in which consumers choose their energy source.With changes in the overall industry,the investm

118、ent environment,and consumer behaviors,the startup ecosystem in the energy sector is more active than ever before.We hope that the entry and growth of startups will positively stimulate major energy companies that are still conservative and will contribute significantly to the acceleration of innova

119、tion in the industry as a whole.20Insurtech Report 202221References1.“Statement by UN Secretary-General Antnio Guterres on the Occasion of the Closing of COP 26(Glasgow,United Kingdom,13 November 2021)”.United Nations Information Center.2021/11/22.https:/www.unic.or.jp/news_press/messages_speeches/s

120、g/43093/2.“UN chief welcomes China-US pledge to cooperate on climate action”.UN News.2021/11/10.https:/news.un.org/en/story/2021/11/1105512 3.“COP26 Meeting Outcome Key Points”.Ministry of Foreign Affairs of Japan.2021/11/16.https:/www.mofa.go.jp/mofaj/files/100261264.pdf 4.“2020 Energy Supply and D

121、emand Results(Preliminary Report)”.Ministry of Economy,Trade and Industry.2021/11/16.https:/ 5.“World Energy Outlook 2021”.International Energy Agency.https:/ 6.“What is VPP/DR?”.Agency for Natural Resources and Energy,Ministry of Economy,Trade and Industry.https:/www.enecho.meti.go.jp/category/savi

122、ng_and_new/advanced_systems/vpp_dr/about.html 7.“Green Hydrogen Economy”.PwC Consulting.https:/ 8.“Green Growth Strategy for Carbon Neutrality in 2050”.Ministry of Economy,Trade and Industry.2021/6/18.https:/www.meti.go.jp/press/2020/12/20201225012/20201225012.html 9.“Green Hydrogen Economy”.PwC Con

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124、21”.International Energy Agency.https:/ 12.“CO use:expected to reach$550 billion in 2040”.Lux Research.https:/ 13.“Technology Trends in the CCUS/Carbon Recycling/Biomonozukuri Field”.NEDO.2020/7/7.https:/www.meti.go.jp/shingikai/energy_environment/green_innovation/pdf/001_07_01.pdf 14.“38.2 Billion

125、Yen for CO2 Capture/METIs Green Innovation Fund Budget”.Denki Shimbun.2021/12/24.https:/ 15.“Porsches Answer to the Next Generation of Power Sources.eFuel Production to Start in 2022!”GENTROQWeb.2021/9/12.https:/motor-fan.jp/genroq/article/8243/16.“Mitsubishi Corporation and Blue Planet Systems Corp

126、oration Sign Collaboration Agreement to Achieve a Carbon-Circulating Society”.Chiyoda Corporation Press Release.2021/2/5.https:/ and Play Japan was established in 2017,as a subsidiary of Plug and Play which is a global innovation platform headquartered in Silicon Valley.We aim to build a world-class platform that drives innovation and connects industry-leading corporations with domestic and international startups in order to support them in expanding their possibilities from Japan to the world,and from the world to Japan.For inquiries about this ebook contact-https:/ https:/ https:/