Eku Energy Commits to Japan's Long-Term Energy Transition with Ground-Breaking Ceremony for Hirohara Battery Energy Storage System.

Miyazaki City, Japan — September 24, 2024 — Eku Energy, a global leader in energy storage solutions, has reaffirmed its long-term commitment to Japan by embarking on a new partnership with Tokyo Gas and others. Together, they will contribute to Japan's transition toward net-zero emissions, demonstrating Eku's role as a trusted partner in building safe and sustainable energy infrastructure.

At a ground-breaking ceremony on Tuesday, September 24, Eku Energy’s Japanese subsidiary initiated the construction of the Hirohara Battery Energy Storage System (BESS) in Oh-Aza Hirohara, Miyazaki City, Miyazaki Prefecture. The ceremony was attended by representatives from Miyazaki City, Tokyo Gas and Mitsubishi UFJ Bank (MUFG). Attendees gathered to pray for the safety and successful completion of the project.

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Kentaro Ono, Managing Director of Japan at Eku Energy said:

This occasion marks an important milestone for Eku Energy in Japan and shows our strong commitment to the local market. As Hirohara BESS is just about to commence construction, we are exploring new opportunities to grow our footprint in the region with our Tokyo based team ofspecialist experts to help Japan reach net zero in 2050.

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Japan’s battery energy storage market is expected to grow significantly, with projections estimating a compound annual growth rate of around 17.5% over the next six years alone. The installed capacity of large-scale energy storage in Japan is expected to increase from approximately 4GW/10GWh in 2022 to about 10 GW/27GWh in 2030. *

Construction of Hirohara BESS is scheduled to begin in fall 2024, with commercial operations expected to commence in 2026. As the asset owner, Eku Energy will oversee construction and operations of Hirohara BESS. It is the first project of this kind that MUFG has arranged financing for. Hirohara BESS will supply Tokyo Gas with safe, secure and reliable electricity for 20 years.

With a rated output of 30 MW and a storage capacity of 120 MWh, Hirohara BESS will be capable of providing four hours of electricity to approximately 63,000 households, about one- third of Miyazaki City's population. This project represents a significant step toward reducing carbon emissions and increasing energy security in the region.

Eku Energy, a specialized provider of energy storage projects, is committed to advancing clean energy solutions in Japan and around the world. As global demand for energy storage systems grows to achieve net-zero emissions, Eku will continue to deliver innovative and reliable projects to support sustainable energy goals.