Mitsui acquires stake in Global Engineering, forms business partnership to develop new energy management services

Feb. 10, 2017

On December 13, 2016, Mitsui & Co. acquired 185 common shares in Global Engineering Co., Ltd. (representing approximately 4.7% of voting rights) directly from the company and concluded a business partnership agreement for the joint development of next generation energy management services.

Mitsui and Global Engineering have worked together on several projects, including the Virtual Power Plant*¹ business creation project, a pilot project aiming to make the integration of renewable energy and the balancing of electric supply and demand more efficient through the use of demand response*² and energy storage. The pilot is sponsored by the Institute of Applied Energy, a foundation chosen by the Ministry of Economy, Trade, and Industry.

Through this acquisition and partnership agreement, Mitsui and Global Engineering will combine our respective expertise to develop a virtual power plant and next generation energy management business, and will aim to together develop a business that supports local municipalities in Japan looking to revitalize their regions through locally produced energy.

*¹ The virtual power plant is a business model to control multiple generation assets, demand response, etc., based on the supply-demand of the electricity grid, thereby serving as if it is a single power plant, aiming to develop a more efficient and cleaner electricity grid.

*² Demand response relates to adjusting the amount and/or timing of power demand based on the utilities' incentive programs, tariff rate structures, etc.

Company Overview

Name Global Engineering Co., Ltd.
Representative CEO Akira Oshita
Location Nishiko Living Kashii 2F, Kashii 1-1-1, Higashi-ku, Fukuoka-shi, Fukuoka Prefecture
Established October 18, 1991
Business Activities Demand response business, sale of generators for business use, equipment installation and maintenance, power retail for commercial and industrial customers, other
Capital ¥274,000,000
Global Engineering’s demand-side network centerGlobal Engineering’s demand-side network center