Tokyo Gas Co., Ltd.
January 19, 2023

Investment in and Collaboration with Global Thermostat, a U.S.-based Firmwith Leading-Edge Direct Air Capture Technology
Tokyo Gas Co., Ltd.

Tokyo Gas Co., Ltd. (President: UCHIDA Takashi; “Tokyo Gas”), acting through its wholly owned subsidiary Acario
Investment One, LLC (CEO: OKUI Toshiharu), becomes the first Japanese energy company to invest in and conclude
an agreement for collaborating with Global Thermostat, PBC (“Global Thermostat”), a U.S.-based firm which offers aleading-edge technology for the Direct Air Capture (“DAC”) of carbon dioxide directly from the atmosphere.
Direct air capture of carbon dioxide from the atmosphere has drawn global attention as a negative emissions*1 technology andis expected to contribute to realizing “net-zero” in the future. Global Thermostat, with its leading technology, is currently
developing deployments for e-fuel*2 production and also scaling up its leading technology in a project supported by the U.S.
Department of Energy*3.
Global Thermostat’s solid adsorption process*4 has been rigorously refined and tested over the last ten years to address
the primary technical challenges associated with DAC, namely the ability to efficiently process large volumes of air andprovide the energy for regeneration in the most cost-effective manner possible.
Through this investment and collaboration, Tokyo Gas will deploy Global Thermostat’s DAC system to Japan for thefirst time to carry out CO2 capture tests and will work on advancing the practical deployment of DAC. In the future,
Tokyo Gas will also seek to develop new decarbonized energy businesses by utilizing CO2 captured by DAC for
methanation, CCUS*5 and other applications within Japan and abroad.

Paul Nahi, CEO of Global Thermostat, stated:“Our partnership with Tokyo Gas is an important step toward our goal of delivering cost-effective Direct Air Capture ona worldwide scale. Along with cuts in carbon emissions, we believe Direct Air Capture must play a key role in returning
carbon dioxide in the atmosphere to safe and sustainable levels, helping stabilize the climate as soon as possible. We’reexcited to partner with Tokyo Gas and help them fulfill their net-zero strategy.”
KIMOTO Kentaro, Tokyo Gas Senior Managing Executive Officer, Chief Executive of Digital Innovation Division,stated:“We are very pleased to be able to announce our investment and the conclusion of our agreement for collaboration with
Global Thermostat. We are certain that Global Thermostat’s DAC technology will be essential to the transition to a
decarbonized society. Through this partnership, we will develop solutions for decarbonization in order to achieve theNet-Zero CO2 goal set forth in our management vision ‘Compass 2030.’”

Overview of Global Thermostat, PBC
Company name

Global Thermostat, PBC

RepresentativePaul Nahi, CEO

Date of Establishment

August 2022. Originally established as a Limited Liability Company in 2010

Headquarters location

Colorado, USA

Activities

Development and deployment of direct air capture technology

Overview of Acario Investment One, LLC
Company name

Acario Investment One, LLC

Representative

OKUI Toshiharu , CEO

Date of Establishment

December 2017

Headquarters location

California, USA

Shareholder

Tokyo Gas Co., Ltd. (100%)

Activities

Investment in energy-related companies and venture capital funds

Tokyo Gas Group will continue advancing efforts for early development of decarbonization technologies and also leadthe efforts towards achieving Net-Zero CO2 in its “challenge to achieve Net-Zero CO2” set forth in Tokyo Gas Group’sManagement Vision, “Compass 2030”. We will thus contribute to the Japanese government’s goal of realizing a “carbonneutral and decarbonized society by 2050”.
*1 The achievement of net negative CO2 emissions through means such as removal of CO2 from the atmosphere.
*2 Fuel which is produced from CO2 and the renewable energy-derived hydrogen.
*3 An initial engineering design of a DAC system aimed at removing 100,000 tons of CO2 from the atmosphere per year
(Award amount: $2.5 million, announced in June 2021)*4 CO2 removal method using solid adsorption.
*5 Carbon dioxide Capture, Utilization and Storage
Image of Global Thermostat’s DAC system(Courtesy of Global Thermostat)