Strengthening collaboration with CHITOSE Group toward Co-Creation of New Business in the Bioeconomy
Time：23 Sep,2024
<p style="text-align: center;"><img src="/ueditor/php/upload/image/20240923/1727098286105556.png" title="1727098286105556.png" alt="1.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Promotion of existing biomass-related business creation activities with CHITOSE Group
●NSK has decided to invest in CHITOSE Group and form a new business alliance for expansion of ongoing business as well as co-creation of new business.
NSK Ltd. (Headquarters: Tokyo, Japan; Representative: Akitoshi Ichii, President and CEO; hereinafter "NSK") has been collaborating with CHITOSE Group, a group of leading biotechnology companies in the global bioeconomy (Representative: Tomohiro Fujita, hereinafter "CHITOSE"), to undertake business creation activities focused on biomass recycling. This spring, the two companies have achieved a certain level of success, including the sale of a compost production plant developed by both companies, and having paved the way for commercialization, they have decided to strengthen their cooperation for future expansion of this business and co-creation of new businesses.
As specific measures to strengthen the collaboration, NSK invested 500 million yen in CHITOSE BIO EVOLUTION PTE. LTD., the headquarters of CHITOSE Group, and signed a business alliance agreement with Chitose Laboratory Corp., a core company of the CHITOSE Group, for the purpose of expanding biomass recycling business and co-creating new businesses.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">■Representative Comments
Akitoshi Ichii, NSK:
The bioeconomy is poised for substantial growth across various sectors such as food, environment, and medical/health care, promising significant expansion in the coming years. Strengthening our collaboration with CHITOSE Group, renowned for its wealth of knowledge and expertise in this field, will enable us to diversify our business reach and play a pivotal role in driving the realization of a circular society through our advanced tribology and manufacturing technologies.
Tomohiro Fujita, CHITOSE:
CHITOSE Group has a proven track record of addressing social issues through the implementation of innovative circular solutions in Japan and Southeast Asia. These solutions include circular hydroponic cultivation using organic materials and microalgae production utilizing CO2 emission from exhaust gasses. By combining the expertise of NSK in the field of precision equipment with the knowledge and experience cultivated by CHITOSE Group, the leader of the global bioeconomy, we make a significant step towards realizing a circular society.
Supplementary Information
1. Details of activities so far
NSK and CHITOSE have started collaboration in 2021 after conducting a business search in the field of biotechnology to take advantage of the strengths of both companies and discovering the potential for co-creation in biomass circulation. NSK has been developing equipment for zoos and resort hotels with the aim of turning unused biomass (animal waste, food residues, etc.) that has been disposed of in the past into resources using mechatronics technology, which is one of “NSK's” strengths. The first sales of the newly developed composting plant were made in the Spring of 2024, and further sales expansion is planned in the future.
＜Concept and Features of the Newly Developed Composting Plant>
Concept:
We aimed to deepen people's understanding of resource recycling by allowing them to see “composting,” the process of turning unused biomass into resources, not only from the outside of the plant, but also through the workings of microorganisms inside of it.
Features:
1) Adoption of barrel-shaped design to attract the attention of resort hotel and zoo visitors.
2) A monitoring system can be installed to visualize the "composting" process carried out by invisible microorganisms.</span></p>
