Press Release
October 26, 2023
Shizen Energy Inc.
B-ON GroupeMotion Fleet Inc.

Shizen Energy and B–ON to enter into discussion of joint investment innew start-up eMotion Fleet to accelerate fleet electrification anddecarbonization in Japan and Asia
Shizen Energy Inc. (Shizen Energy) and Luxembourg-based B–ON Group (B–ON) haveagreed to enter into discussion of joint investment in Japanese electric vehicle start-up
eMotion Fleet Inc. (eMotion Fleet), focused on accelerating fleet electrification anddecarbonization of energy consumed by the transportation industry in Japan and Asia.
Shizen Energy and eMotion Fleet have already agreed to collaborate on a project topromote electrification of commercial vehicles and decarbonization of thetransportation industry in Japan and Asia, and have started a joint project in Japan.
eMotion Fleet's business and strengths
eMotion Fleet was founded earlier this year by Shuji Shiraki and Dennis Ilic of B–ON
Japan. Both founders and their team worked to electrify hundreds of commercial EVs
with one of Japan’s biggest last mile delivery companies. Leveraging this uniqueexperience and knowledge, eMotion Fleet will offer multi-brand EV solutions and an
one-stop service to maximize the value for the customer throughout the process ofplanning, deployment, operation and management in EV implementation.
Background of the joint 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 their energy management business to utilize variable renewable energy andother forms of alternative energy more effectively. In recent years, Shizen Energy has
shifted its focus to not only the development and supply of renewable energy, but also
creating carbon-free social infrastructure, including the decarbonization oftransportation energy. In line with this, the company formed a joint venture with
Nishi-Nippon Railroad Co., Ltd., and provides services for non-fossil certificates inJapan.
The partnership aims to offer a full lineup of EV services to customers by combining
eMotion Fleet's know-how and expertise based on its extensive experience in EV
implementation in Japan and Asia with Shizen Energy's expertise in renewable energy
and energy management. B–ON will also utilize this partnership in Japan as a hub for
innovative EV business models in Japan and Asia.

Future collaboration
As a strategic partner to eMotion Fleet, B–ON will manufacture EVs and provide theirbespoke fleet management system for EV fleets in Japan and abroad. In complement,
Shizen Energy will work with eMotion to transform power consumed in EV to renewableenergy. eMotion will combine the strengths of the two companies to provide tailoredelectric fleet implementation in Japan and Asia.
As a part of the collaboration between three companies, Shizen Energy is currently
providing EV consulting services to customers in Japan procuring non-fossil fuelcertificates, and is also working to implement electric buses in the public
transportation sector. The group plans to expand their operations next in other areas ofAsia.
eMotion Fleet's 2030 target
Currently, approximately 800,000 commercial EVs are deployed annually worldwide,with the European and Chinese markets leading the trend. In Japan, the government
has set a target of 20-30% of new commercial vehicle sales to be EVs by 2030.
Specifically, about 50,000 electric light commercial vehicles (eLCVs) are expected to beimplemented in Japan in 2025 and 120,000 in 2030. eMotion Fleet aims to capture theleading share of this market.
Comments from Shizen Energy, B-ON, and eMotion Fleet
Naoto Takiguchi, Executive Officer and Department Head of Business Planning
Department of Shizen Energy, said, As an established leader in alternative energies, we
could not be more pleased to work with B–ON to create an environment in which we
can provide services to achieve 100% electric vehicles and, in the future, 100%
renewable energy based EVs through eMotion Fleet".
“Shuji and Dennis’s incredibly unique experience deploying electric fleets at scale in theJapanese market has been invaluable to us at B–ON as we seek to improve vehicle,
driver and fleet productivity,” said Bruno Lambert, CEO of B–ON. “We are fully confident
in their natural next step to founding eMotion Fleet, and look forward to a bright future
together in partnership with a leader like Shizen.”“There is strong momentum of fleet electrification in Japan and Asia”, said ShujiShiraki, CEO of eMotion Fleet. “We will target savings of 10-20% with structured
planning, deployment and operations of electric fleets, and we are proud to offer theseservices directly to fleet customers to accelerate the decarbonization of our homemarket and beyond.”【About eMOTION Fleet】
eMotion Fleet is a brand agnostic fleet electrification solution provider focused in Japan andAsia. 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 and maximize fleet
uptime, operation cost savings and carbon neutrality.
【About Shizen Energy Inc.】
Founded in June, 2011. With the company purpose of “We take action for the blue planet,” thecompany’s business includes development, financing, and asset management of renewableenergy power plants using solar power, wind power, small-scale hydroelectric power, andbiomass. 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 andBrazil. 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 generation internationally.
・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 B-ON S.à r.l.】
B–ON is a leading provider of electric vehicles, smart productivity-enhancing tools, and electricsolutions for commercial fleets. With experienced employees working together across Europe,Asia, and North America, B–ON is focused on creating SPACE in cities with productive andall-electric commercial transportation solutions. For more information, check us out on LinkedIn
or on our website at www.b-on.com.

<For inquiries regarding this press release>
Shizen Energy Inc., Public Relations Department
E-mail: se-comm@shizenenergy.net
B–ON Public Relations
Veronica Grigorioupress@b-on.com / veronica@b-on.com
eMotion Fleet Inc. Contact
info@emotion-fleet.com