CHITOSE Group Successfully Concludes Capital Increase of 21M USD Scale through Third-Party Allotment
CHITOSE BIO EVOLUTION PTE. LTD., the leader of the global bioeconomy and the headquarters of the CHITOSE Group (hereinafter "CHITOSE"), has successfully concluded a total of 21M USD new share issuances through a third-party allotment with Shiseido Company, Limited, NGK INSULATORS, LTD., Mitsui Mining & Smelting Co. Ltd. (*1), Mitsubishi Kakoki Kaisha.Ltd., Amano Enzyme Inc., Mers Line Pte. Ltd. (*2), Ikeda tohka Industries Co., Ltd. and SHINSHO CORPORATION. The funds raised will be allocated towards the expansion of the microalgae production facility and R&D of product applications in order to accelerate MATSURI, the project to build a microalgae-based industry to replace the petroleum industry. Through these commitments, CHITOSE will contribute to the realization of zero carbon emissions and work together with others toward a prosperous future that will last beyond a thousand years.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230914666208/en/
Microalgae Production Scale Roadmap (Graphic: Business Wire)
*1 Investment by Mitsui Kinzoku-SBI Material Innovation Fund with Mitsui Mining & Smelting Co. Ltd. as a Limited Partnership and SBI Investment as a General Partnership.
*2 Investment by Sun Sail Navigation Pte. Ltd., which belongs to the Mers Line Pte Ltd. group.
Rationale for the Capital Increase & Use of Proceeds
CHITOSE envisions a future in which humankind can live prosperously for the next thousand years and aims to build an unprecedented microalgae-derived industry. Working in collaboration with progressive companies and organizations spanning various sectors and industries, CHITOSE is simultaneously expanding the scale of production and developing multifaceted applications in order to promote the use of microalgae products in fuels, foods, chemical products, cosmetics, and feedstuffs that support people's lives.
In terms of scale-up of microalgae production facilities, following completion of a 0.1 hectare facility in August 2018, CHITOSE successfully inaugurated a 5 hectare-facility named CHITOSE Carbon Capture Central (C4) in April 2023. CHITOSE plans to expand it further to a scale of 2,000 hectares by 2030 and 10 million hectares by 2050. In the current fiscal year, CHITOSE has just launched the 2,000 hectare-project, of which the initial 100 hectare-facility development along with the R&D of various applications have been selected as a commissioned project by the Green Innovation Fund / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material (*3) of NEDO (*4).
*3 About the Green Innovation Fund Project / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material
https://green-innovation.nedo.go.jp/en/project/bio-manufacturing-technology/
*4 New Energy and Industrial Technology Development Organization
Future Procurement Plans
Growing expectations for stable procurement of resources and contribution to sustainable manufacturing enabled us to achieve our target of 20M USD for the current fiscal year during the first half of the year. Responding to strong market demand, CHITOSE intends to continue vigorous dialogue with investors in the second half of the year and beyond.
*Note: All figures are the exchange value of the USD calculated as of September 8, 2023.
Stakeholder’s Comments
Shiseido Company, Limited
"Under our mission of 'BEAUTY INNOVATIONS FOR A BETTER WORLD,' our company is committed to developing cosmetics that are not only good for the skin, but also promotes a healthy and beautiful natural environment. We are working with the CHITOSE Group to build a circular model, maximizing the potential of 'algae,' and integrating it into the earth's system, ensuring resources are not depleted. We will lead the creation of sustainable value, thereby revitalizing the global cosmetics market."
NGK INSULATORS, LTD.
"NGK, a member of MATSURI, is encouraged to develop algae business that contributes to carbon neutrality with our unique ceramic technologies. NGK and CHITOSE Group will extend our collaboration to realize social implementation of the bio industry."
Mitsui Mining & Smelting Co., Ltd.
"Mitsui Mining & Smelting Co., Ltd. is working to co-create a value chain for bio-manufacturing by applying our unique catalyst, separation and purification technologies in order to contribute to the realization of a sustainable society."
Mitsubishi Kakoki Kaisha, Ltd.
"Mitsubishi Kakoki Kaisha believes that algae can be a solution to the global food and energy problems, and this investment is in line with our long-term management vision. We will work closely with the MATSURI project and contribute to the development of the algae business with our technology."
Mers Line Pte. Ltd.
"With the utilization of microalgae, a carbon-free society is just around the corner. We sympathize with the philosophy of CHITOSE Group, 'To live in abundance beyond the next millennium using the ability of living things' and support their activities."
Ikeda tohka Industries Co.,Ltd.
"As a food ingredient manufacturer with over 100 years of history, we harness our cultivated food processing technology to convert algae biomass into a usable form for industries. Through this, we support the creation of a sustainable and carbon-neutral society."
SHINSHO CORPORATION
"Through this investment, we intend to collaborate with CHITOSE Group, in order to build a new resource-recycling business model through carbon recycling and new business development using microalgae."
###
About MATSURI
https://matsuri-partners.chitose-bio.com/en
The MATSURI project aims towards the establishment of an advanced microalgae-based industry. CHITOSE has considerable expertise in large-scale photosynthetic production technologies, and is leading the MATSURI project collaborating with Japanese progressive enterprises. As what MATSURI means in Japanese, CHITOSE keeps leading a festival to develop a sustainable society. If you are interested in MATSURI, please feel free to contact the MATSURI office. Click here to contact us.
Related Information
[Press Release] CHITOSE Group, Successfully Concludes Capital Increase of 7M USD Scale from Shiseido and Forms Strategic Partnership ― Accelerate a Microalgae-based Circular Manufacturing in a Cosmetic Industry —
[Press Release] CHITOSE Group Obtains Funding from Japanese Government(NEDO) for Green Innovation Fund of 400M USD Scale
[MATSURI partner site] Shiseido Company, Limited Joined MATSURI as a Corporate Partner (Japanese)
[MATSURI partner site]
Amano Enzyme Inc. Joined MATSURI as an Industry Restructuring Partner (Japanese)
CHITOSE Group Overview
https://chitose-bio.com/
CHITOSE Group is a family of biotechnology companies leading the global bioeconomy. To live in abundance beyond the next millennium using the ability of living things, CHITOSE pursues the possibilities of biotechnology through technological and business development collaborating with its business partners all over the world.
About CHITOSE BIO EVOLUTION PTE. LTD. (head office that oversees entire Group)
Established in October, 2011
Head Office located in Singapore
CEO: Tomohiro FUJITA, Ph. D.
About CHITOSE Laboratory Corp. (responsible for the project)
Established in November, 2002
Head Office located in Kanagawa Prefecture, Japan
CEO: Tomohiro FUJITA, Ph. D.
COO: Rie KUGIMIYA
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230914666208/en/
Contact information
Media Contact:
Communication Design Div.
CHITOSE Group
pr@chitose-bio.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Its Global Vision on Show, TVS Motor Company Makes a Stellar Debut at EICMA5.11.2025 16:16:00 EET | Press release
TVS Motor Company (TVSM) - a global leader in two and three-wheeler manufacturing - has taken centerstage at EICMA 2025, making a landmark debut at the world’s largest motorcycle exhibition. With a show floor commanding presence, TVS unveiled 6 new products across ICE and thermal powertrains, advanced ride assist gear including AR based Heads-Up display helmets, a stunning new range of accessories, connected technology that enhances rider-machine connect and its roadmap for expansion in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251105242034/en/ TVS top leadership team posing with the global showcases at EICMA. From L to R: TVS M1-S, TVS X, TVS eFX three O, TVS RTX 300 and RTX 300 BTO, TVS Tangent RR Concept and RTR HyprStunt Concept. Commenting on TVSM’s maiden appearance at EICMA, Sudarshan Venu, Chairman, TVS Motor Company, said, “TVS is a business built over 100 years - a commitment to customer delight, quali
Car Connectivity Consortium Releases Inaugural Industry Report on Global Vehicle Connectivity Trends5.11.2025 16:00:00 EET | Press release
The Car Connectivity Consortium® (CCC), the trusted source for defining how vehicles interact with devices and the world to enhance the consumer experience through standardized, secure, and convenient connectivity solutions, today released its 2025 Future of Vehicle Connectivity Report. The findings reveal how automakers, suppliers, and technology providers across regions are aligning around secure, seamless connectivity as a foundation for innovation. With Deloitte projecting the value of software-defined vehicles to reach up to $600 billion by 2030, the connected vehicle market is entering a new phase of growth. To better understand how the industry is preparing for this evolution, the CCC surveyed its membership to uncover where companies are investing and focusing their attention. CCC’s more than 300 member companies include leading automakers, Tier 1 suppliers, smart device makers, and technology providers representing every major region. The survey, which gathered insights from o
Ripple Announces $500 Million Strategic Investment Led by Fortress and Citadel Securities, Valuing the Company at $40 Billion Following Record Growth5.11.2025 16:00:00 EET | Press release
Ripple, the leading financial technology company that offers crypto solutions for businesses, today announced a $500 million strategic investment at a $40 billion valuation from world-class institutional investors led by funds managed by affiliates of Fortress Investment Group, affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. The investment follows Ripple’s strongest year to date and its recent $1 billion tender offer at the same valuation, underscoring continued confidence in the company’s growth trajectory and long-term vision. As Ripple continues its record year of growth, providing liquidity for shareholders and employees remains a priority. The company has repurchased more than 25% of its outstanding shares in recent years, returning meaningful value to employees and early investors. Its most recent tender offer attracted significant interest from institutional investors eager to join Ripple’s cap table. The decision to accept $5
Rimini Street Announces Upcoming 2025 Investor Events Schedule5.11.2025 16:00:00 EET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the following upcoming 2025 Investor Events Schedule. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251105382959/en/ Rimini Street Announces Upcoming 2025 Investor Events Schedule Investor Conferences: Michael L. Perica, chief financial officer and Dean Pohl, vice president, treasurer and investor relations, will be meeting with investors one-on-one and in small group meetings at the following Investor Conferences. November 18, 2025: Craig-Hallum 16th Annual Alpha Select Conference, NYC November 19, 2025: Roth Capital 14th Annual Technology, NYC Rimini Street Investor Day 2025: In addition, join CEO, Seth Ravin and his Senior Executive Team who will share their vision, strate
Game Developers Can Now Capture More Holiday Demand With Xsolla’s Expanded Payments Portfolio5.11.2025 16:00:00 EET | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, today announced new local payment methods across key markets in Europe, Asia, Africa, and Latin America. Timed for the peak holiday season, this expansion helps developers reduce friction at checkout and convert seasonal demand into long-term engagement. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251105167934/en/ (Graphic: Xsolla) The expansion introduces 10 new local payment options that match how players already pay in their home markets, including: Europe: MB Way (Portugal) adds nationwide, mobile-first checkout with instant confirmations and broad recognition. Asia: JKOPay (Taiwan) delivers a trusted, mobile wallet with QR payments and loyalty; Paidy (Japan) offers card-free Buy Now, Pay Later (BNPL) with single-bill or installment options. Africa: Airtel Mobile Money (Tanzania, Madagascar) and MTN Mobile Money
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom