NEWS

2013.07.02

Microwave Chemical Co., Ltd. secures series B funding of ¥700 million

Microwave Chemical Co., Ltd. (President & CEO: Iwao Yoshino) has secured series B funding of a total of \300 million from JAFCO Co., Ltd. (commonly known as JAFCO, President & CEO: Shinichi Hoki) as the subscriber. The capital procurement for series B will total \700 million when combined with the capital increase of \400 million executed with three leading VC companies as subscribers: University of Tokyo Edge Capital Co., Ltd. (commonly known as UTEC, President & CEO: Tomotaka Koji), Nippon Venture Capital Co., Ltd. (commonly known as NVCC, President & CEO: Shuichi Okuhara), and Shinsei Bank Ltd. (President & CEO: Shigeki Toma).

Microwave Chemical Co., Ltd. is working on an innovative process for the chemical and energy industry using their novel technology based on microwave chemistry that saves energy and is highly efficient and compact. Through this round of financing, the company will strengthen its research and development system towards overseas expansion and construct the world’s first large-scale microwave chemical plant capable of 3200t/year production within the City of Osaka. This plant will manufacture fatty acid esters, which use untapped inedible natural resources as a raw material and market them as a raw material for eco-friendly green ink solvents/resin additives/lubricants, along with the production, under the cooperation of chemical companies, of various microwave application chemicals and fuel.

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