Image of Participation in the proof of concept by NR-Power Lab

Participation in the proof of concept by NR-Power Lab

Investment Date: June 13, 2024 (Press Release Date)

We will provide funding and support for the development and future commercialization of a hybrid energy storage system designed to offer a battery hub with leasing functionality for external users. This project is being conducted by NR-Power Lab Co., Ltd. ("NR-Power Lab"), a joint venture between NGK Insulators, LTD. and Ricoh Co., Ltd.

Key Objectives

In this proof of concept, NR-Power Lab will pursue two main objectives: installing NAS® and lithium-ion batteries to develop operational logic for an optimized hybrid system called "StorageHub," and developing a business model for this system aimed at commercialization. A profitable business model is essential for promoting the hybrid energy storage system with battery hub functionality and its compelling business concept. We anticipate that this proof of concept will validate the commercial potential and help establish a scalable business model.

Future Actions

We plan to continue expanding our investments in the growing energy storage market and contribute to the promotion of hybrid energy storage systems with battery hub functionality for leasing purposes.

Posted on June 17, 2024