Press Release
January 9, 2024
Shizen Energy Inc.

Shizen Energy invests in EV solutions startup eMotion Fleet
Shizen Energy Inc. (Shizen Energy) is pleased to announce its investment in eMotion
Fleet Inc.(eMotion Fleet), a Japanese EV solutions startup focused on theelectrification and decarbonization of commercial vehicles in Japan and Asia.
Background of Investment
Shizen Energy has been developing and operating renewable energy power plants inJapan, Asia, and Brazil, including solar power plants and wind power plants, while also
expanding its energy management business to utilize variable renewable energy andother forms of alternative energy more effectively. In recent years, Shizen Energy
business has also expanded to creating carbon-free social infrastructure, including thedecarbonization of transportation energy. In line with this, the company has pursued
initiatives such as the establishment of a joint venture with Nishi-Nippon Railroad Co.,
Ltd., and is initiating various demonstration projects including an EV community bus
project in Mitoyo City, Kagawa Prefecture.
With this investment, Shizen Energy's expertise in renewable energy and energy
management and eMotion Fleet's know-how and expertise based on its extensive
experience in EV fleet implementation will complete the equation of “eMobility x
Renewable Energy” and be combined to develop unique fleet electrification services fortransportation and logistics infrastructure as well as the industrial sector.
eMotion Fleet's Business and Strengths
eMotion Fleet was founded in 2023 by two founders with experience supporting
large-scale electrification of commercial vehicles for one of Japan's largest logistics
companies, responsible for the last mile logistics in Japan.
Leveraging the experience and knowledge of its founding members, eMotion Fleet will
provide a one-stop service that maximizes customer value across a range of EV
operation processes, including proposing multi-brand commercial EV solutions andimplementing commercial EVs and charging infrastructure.
Future Collaboration
Shizen Energy and eMotion Fleet are already collaborating on a project to support theintroduction of EV buses for public transport operators in Japan. In the future, thecompanies will promote the development of a one-stop service to support theimplementation of EVs in the Asian region.

Shizen Energy flexibly responds to various needs to "take action for the blue planet" byproviding development and operation of renewable energy power plants, supply ofrenewable energy through corporate PPAs, energy management, and various
decarbonization services including the implementation of EVs.Together with partners,
Shizen Energy aims to achieve carbon neutrality as soon as possible.

【About Shizen Energy Inc.】
Founded in June, 2011. With the company purpose of “We take action for the blue planet,”
the company’s business includes development, financing, and asset management ofrenewable energy power plants using solar power, wind power, small-scale hydroelectricpower, and biomass. Since 2016, the company has also been focusing on its international
operations, expanding its development and power generation projects in areas such as
Southeast Asia and Brazil. In 2019, the company also entered the energy tech business,offering micro-grid and VPP construction, smart charging and discharging services for EVs,
and other services through its self-developed EMS (energy management system). Shizen
Energy Group has been involved in more than 1 GW of renewable energy generationinternationally.
・Headquarters: Fukuoka Ohori Bldg. 1-1-6 Arato, Chuo Ward, Fukuoka City, Fukuoka
・Representative Directors: Ken Isono, Kenji Kawado, Masaya Hasegawa
・URL: https://www.shizenenergy.net/en/【About eMOTION Fleet】
eMotion Fleet is a brand agnostic fleet electrification solution provider focused in Japanand Asia. Based on its extensive hands-on experience, eMotion Fleet acts as a professional
expert group to offer one-stop service to support customers electrify their fleet andmaximize fleet uptime, operation cost savings and carbon neutrality.
・Headquarters: Mizuma Bldg. 6F, 3-3-13 Nishi-Shinjuku, Shinjuku Ward, Tokyo
・Representative Directors: Shuji Shiraki, Dennis Ilic・URL: https://www.emotion-fleet.com<For inquiries regarding this press release>
Shizen Energy Inc., Public Relations Department
E-mail: se-comm@shizenenergy.net
eMotion Fleet Inc.
E-mail: info@emotion-fleet.com