Connect with us

Technology

Gore Street Capital Successfully Completes Fundraising Round for Japan’s Inaugural Energy Storage Fund, in Partnership with the ITOCHU Corporation

Published

on

LONDON, Sept. 30, 2024 /PRNewswire/ — Gore Street Capital (“Gore Street”) is pleased to announce that it has successfully completed a fundraising round for Japan’s first fund dedicated to grid-scale energy storage systems, “Tokyo Energy Storage Investment Limited Partnership”, hereinafter referred to as “the Fund”, in partnership with the ITOCHU Corporation (“ITOCHU”).

The two firms were selected as the managers of the Tokyo Metropolitan Government’s (TMG) energy creation and energy storage promotion fund following a competitive process held in 2023. Gore Street and ITOCHU subsequently established a joint venture company as a general partner of the fund in February 2024. Gore Street has also established a wholly owned subsidiary, Gore Street Japan Limited, to support the general partner’s investment activities.

The Fund will primarily focus on the Kanto region, home to approximately a third of Japan’s population.  This is Japan’s first specialised fund dedicated to the integrated development and operation of battery storage facilities, including those co-located with renewable energy projects. The Fund will invest in projects during development and subsequently construct and operate the assets.

In addition to the Tokyo Metropolitan Government and ITOCHU, which invested in the Fund in March 2024, Gore Street is pleased to announce the support of key investors, including The Bank of Yokohama, Ltd., Fuyo General Lease Co., Ltd., Honda Motor Co., Ltd., Japan Post Holdings Co., Ltd., Mitsubishi Estate Co., Ltd., Mitsubishi UFJ Trust and Banking Corporation, Mori Trust Co., Ltd., Tokyo Century Corporation, and Tokyu Land Corporation. This process was supported by Nomura Securities Co., Ltd., acting as a financial advisor.

The business case for energy storage in Japan is currently centred around a 20-year fixed-price contract acquired through the long-term decarbonisation auction, presenting a low-risk model. However, the merchant business model in Japan has the potential to unlock significant upside and result in higher returns, making it an attractive opportunity. Gore Street has a strong track record in managing batteries that are primarily monetised on a merchant basis and has successfully achieved superior returns through participation in similar balancing services alongside wholesale trading since 2017 across the German, Great British, Irish, and US markets. In April 2024, Japan introduced new balancing services (Primary, Secondary-1, and Secondary-2), signalling a shift from a predominantly contracted revenue-based business model to one that could offer participants a higher risk-reward profile.

The Fund is, therefore, well positioned to deliver strong returns for investors by leveraging ITOCHU Corporation’s project pipeline and experience in the Japanese market, combined with Gore Street’s expertise in global energy storage investment, construction, and monetisation.

The Fund will accelerate the promotion of the “HTT (ⒽReduce, ⓉCreate, ⓉStore)” concept for electricity, which the Tokyo Metropolitan Government is striving for and support the realisation of Zero Emission Tokyo while contributing to Japan’s decarbonisation efforts.

Suminori Arima, Chief Investment Officer at Gore Street Capital, commented:

“We are pleased to announce the completion of this fundraising round for Japan’s first dedicated energy storage fund, which has received support from private and public investors. We are highly experienced in entering new markets as a first mover to help establish energy storage as a crucial technology of the energy transition. The market conditions in Japan are poised to offer significant opportunities for battery assets. Through this collaboration with ITOCHU, we are excited to build on our experience and help shape the future of the Japanese energy storage sector.”

Notes to Editors 

About Gore Street Capital

Gore Street Capital was formed in 2015 as a global platform to acquire and manage renewable energy solutions. As an experienced renewable energy, infrastructure, and private equity investment manager, it supports robust businesses and high-performing assets that contribute towards the transition to a low-carbon economy.   

Gore Street Capital comprises a diverse team of 55+ energy professionals in GB, Ireland, the US and Japan working across finance, construction, engineering, legal and more to support the construction and operation of energy storage systems around the world. It currently manages an energy storage portfolio of almost 1.24 GW spread across five uncorrelated energy markets, supported by a global supply chain.

Logo – https://mma.prnewswire.com/media/2291703/4933164/Gore_Street_Capital_Logo.jpg

For more information, please contact:
Gore Street Capital Limited
Alex O’Cinneide / Paula Travesso / Ben Paulden
Email: ir@gorestreetcap.com
Tel: +44 (0) 20 3826 0290

 

View original content:https://www.prnewswire.co.uk/news-releases/gore-street-capital-successfully-completes-fundraising-round-for-japans-inaugural-energy-storage-fund-in-partnership-with-the-itochu-corporation-302262138.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Huawei Cloud in France: Building an AI-Native Cloud to Amplify Intelligence on the Tech Stage

Published

on

By

PARIS, Nov. 14, 2024 /PRNewswire/ — HUAWEI CONNECT 2024 PARIS commenced today, featuring the first Huawei Cloud Summit France. Huawei Cloud is building an AI-native cloud through systematic innovation and service reshaping. Moving forward, Huawei Cloud will continue to drive innovation in both the “AI for Cloud” and “Cloud for AI” directions, accelerating the intelligent transformation across industries in France.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, delivered a welcome speech in her digital presence built using Huawei Cloud MetaStudio. She stated, “Innovation is the heart of our success, our competitiveness, and our growth. That’s why we invest heavily in R&D to bring you the most secure and reliable cloud services possible, including cloud native, AI, and big data. In Europe, Huawei Cloud has collaborated with over 500 local partners to deliver a wide range of industry-specific solutions and proven expertise, enabling European businesses to expedite their cloud adoption, leverage global resources, and achieve leapfrog growth.”

In his keynote speech, William Dong, President of Huawei Cloud Marketing, highlighted the importance of AI in building economic moats. To this end, Huawei Cloud launches Pangu models to enable intelligent upgrades across industries, with over 400 use cases in 30 industries now benefiting from Huawei Cloud’s AI-native cloud infrastructure that extends cutting-edge technologies and premium experiences to European customers. On the tech stage, Huawei Cloud is set to amplify intelligence.

Huawei Cloud’s AI-native strategy has been a cornerstone of the company’s innovation. This strategy is twofold: AI for Cloud and Cloud for AI, marking significant advancements in Huawei Cloud’s capabilities. “AI for Cloud” means integrating Pangu models with cloud services for product R&D, data governance, security, and O&M to make them more intelligent and efficient.

With full-stack systemic innovations, “Cloud for AI” covers data centers, cloud platform architectures, and infrastructure services, enabling efficient and high-performance data preparation, training, inference, and application of foundation models. The distributed cloud database GaussDB features high performance, high intelligence, and easy migration. Huawei Cloud Stack 8.5 provides more than 120 locally deployed cloud services and 50 industry-specific solutions, building the optimal hybrid cloud for intelligent transformation.

At this summit, Huawei Cloud officially released the Flexus cloud services for small- and medium-sized enterprises (SMEs) in France. Flexus feature flexible specifications, AI-driven high speed, 6x burst speed, compute hot upgrade, and ultimate experience.

Presently, Huawei Cloud has more than 500 customers, partners, and developers in France. Song Wanying, President of Huawei Cloud France, shared insights on fostering business growth through cloud innovation and introduced new media & entertainment, e-commerce, and retail solutions for the French market, furthering intelligent initiatives.

Huawei Cloud has upgraded media services in a 3E approach: efficiency, experience, and evolution. For instance, AIGC for virtual humans can significantly reduce the time required for short video production from days to mere minutes. In terms of experience, Huawei Cloud leverages its self-developed RTP protocol to minimize latency to 500 ms and reduce frame freezing to 10%. For business model evolution, Huawei Cloud offers virtual human technology to facilitate efficient video production, leading to new business opportunities and growth.

In retail and e-commerce, Huawei Cloud has developed the B.R.A.N.D. model to assist retailers in driving innovation and growth. Through professional services, deterministic operations, security, reliability, and 16 sub-scenario solutions, B.R.A.N.D. enables retailers to build agile, efficient, and secure business systems.

In terms of ecosystem expansion, Huawei Cloud has partnered with Station F, the world’s largest startup incubator, to launch a sustainability-themed incubation program. This program aims to provide comprehensive support for startups, including cloud resources, investment opportunities, and dedicated office spaces. Additionally, Huawei Cloud and 20 ecosystem partners have unveiled the Industry Partner Innovation Program at the summit.

This two-day event features a packed agenda, including the partner forum and the Cloud Native Elite Club (CNEC) roundtable. At this year’s HUAWEI CONNECT Europe, CNEC returned to Europe and invited its first members to join this technical community built for European technology pioneers.

Photo – https://mma.prnewswire.com/media/2558479/image_1.jpg

Photo – https://mma.prnewswire.com/media/2558480/image_2.jpg

Photo – https://mma.prnewswire.com/media/2558481/image_3.jpg

View original content:https://www.prnewswire.co.uk/news-releases/huawei-cloud-in-france-building-an-ai-native-cloud-to-amplify-intelligence-on-the-tech-stage-302306351.html

Continue Reading

Technology

ALBERT GAHFI, NEWCO CAPITAL GROUP CEO, NOMINATED FOR THE U.S. FINTECH AWARDS’ INNOVATOR OF THE YEAR

Published

on

By

NEW YORK, Nov. 14, 2024 /PRNewswire/ — NewCo Capital Group is proud to announce that Albert Gahfi, CEO of NewCo Capital Group and Co-Founder and Director of Bizcap, has been nominated for the prestigious Innovator of the Year Award by the U.S. FinTech Awards. This recognition highlights Albert’s groundbreaking contributions to the FinTech sector and his dedication to founding companies that empower small businesses with forward-thinking capital solutions.

We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech

As a proven enterprise-building founder and CEO, Albert co-founded Kings Cash Group and oversaw its merger with a large FinTech consortium that included an SEC-registered fund. As the Co-Founder and CEO of NewCo Capital Group, Capytal.com, and NewCo Canada, as well as the co-founder of Melbourne-based BizCap, Albert’s global expansion strategy has led to the opening of offices in New Zealand, the United Kingdom, and a recently announced strategic initiative in Asia via Singapore.

The nomination for Innovator of the Year underscores NewCo’s commitment to reshaping how small-to-medium businesses and enterprise companies access financing. Since its founding, NewCo has remained at the forefront of Specialty Finance within the FinTech sector, continually creating custom capital solutions that leverage advanced technology, nuanced underwriting, and a deep understanding of client needs.

Bruce Gurvitsch, Chief Revenue Officer for NewCo Capital Group and Capytal.com, commended the nomination, stating, “Albert’s nomination for Innovator of the Year reflects his unwavering pursuit of excellence—a drive that defines our mission at NewCo. We’re committed to pushing the boundaries of what’s possible in FinTech, ensuring that SMBs have access to the capital they need for growth, job creation, and long-term success.”

NewCo and its affiliate companies have transformed traditional financing models, making it easier, faster, and more efficient for businesses to secure funding. With over $1.8 billion deployed across 40,000+ businesses globally, NewCo continues to lead the charge in specialized financing and working capital.

Reflecting on the nomination, Gahfi remarked, ‘This recognition from the U.S. FinTech Awards validates our efforts and inspires us to continue delivering the most innovative solutions to the market.’ He emphasized NewCo’s long-term vision, adding, ‘We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech. Our mission has always been to empower small businesses globally.’

For more information about NewCo Capital Group, visit www.NewCoCapitalGroup.com or email Info@NewCoCapitalGroup.com.

About NewCo Capital Group & Capytal.com

Founded in 2020, NewCo Capital Group and its affiliate companies empower SMBs globally with fast, accessible financing and funding. The companies have successfully deployed $1.8 billion to over 40,000 SMBs while maintaining a 4.9/5 Trustpilot rating.

View original content to download multimedia:https://www.prnewswire.com/news-releases/albert-gahfi-newco-capital-group-ceo-nominated-for-the-us-fintech-awards-innovator-of-the-year-302306356.html

SOURCE NewCo Capital Group

Continue Reading

Technology

Enrollsy Unveils Brand Refresh and New Website to Enhance Enrollment Experience for Schools, Camps, Nonprofits, and More

Published

on

By

LEHI, Utah, Nov. 14, 2024 /PRNewswire/ — Enrollsy, the platform dedicated to making enrollment simple and accessible for organizations of all sizes, is thrilled to announce its brand refresh and launch of a new website at www.enrollsy.com. With a renewed focus on simplifying enrollment processes and delivering unparalleled support, Enrollsy’s brand refresh reinforces its commitment to empowering non-technical professionals with a seamless, user-friendly experience.

Enrollsy is online enrollment software made easy.

The name “Enrollsy” reflects the platform’s mission: combining “enroll” and “easy” to describe a solution that effortlessly manages the enrollment process—from sign-up to payments and communications—without requiring technical expertise or IT support. Enrollsy’s customizable platform is designed to solve enrollment challenges and make life easier for administrators everywhere.

Empowering Purpose, Mission, Vision, and Values

Driven by a purpose to create an exceptional experience from the first interaction to ongoing support, Enrollsy ensures every aspect of its service is tailored to customer needs. Enrollsy’s mission—to provide an amazing enrollment experience to 10 million people in a single year—drives the platform to innovate, simplify, and perfect enrollment solutions for organizations managing data, payments, and communications.

Enrollsy envisions a world where education, enrichment, and connection drive better outcomes, helping organizations fulfill their missions. As a trusted partner, Enrollsy shares its values with customers by prioritizing consistency, honoring commitments, and maintaining clear, actionable communication.

Unmatched Customer Experiences

Enrollsy’s brand refresh also highlights its commitment to delivering value through real-life customer success stories. Elizabeth Fizer, owner of Fizer Fine Art, shares, “Enrollsy transformed our registration process from an absolute nightmare to easily manageable. Their unmatched customer service and ability to tailor the software to meet our specific needs allowed us to offer flexible schedules and simplified invoicing—enabling me to focus on my family during a busy registration period. Parents found it easy and intuitive, which only enhanced our customer experience.”

Similarly, Matthew Vinson from Common Ground on the Hill, a nonprofit, noted, “Enrollsy exceeded our expectations by listening to our unique needs and creating a system that integrates with our existing applications seamlessly. They understood our operations and provided features we needed, making the registration process efficient and stress-free.”

Visit the New Enrollsy Website

Enrollsy’s reimagined website offers a refreshed look at how the platform simplifies enrollment, billing, and communication for education, enrichment, and nonprofit organizations across the U.S., Australia, and Canada. Visitors are invited to explore www.enrollsy.com to discover how Enrollsy’s solutions are transforming the enrollment experience and simplifying administrative processes.

About Enrollsy Enrollsy provides a complete, easy-to-use solution for managing enrollments, payments, and participant communications. Designed for non-technical professionals, Enrollsy’s mission is to simplify enrollment for organizations while delivering unmatched support and flexibility. Visit www.enrollsy.com to learn more about how Enrollsy is shaping the future of enrollment.

View original content to download multimedia:https://www.prnewswire.com/news-releases/enrollsy-unveils-brand-refresh-and-new-website-to-enhance-enrollment-experience-for-schools-camps-nonprofits-and-more-302306358.html

SOURCE Enrollsy, Inc.

Continue Reading

Trending