Green Growth raises about ¥500 million in seed equity and debt
The Japanese renewable-energy company will hire staff and strengthen its delivery capacity for solar, storage and electricity trading.
Green Growth announced approximately ¥500 million in seed financing on October 29. The package combines equity from ANRI Fund 6, Dogan MGX Fund and individual investor Yusuke Toyoda with borrowing from Resona Bank, Ltd. and Japan Finance Corporation. ANRI led the equity investment; the company did not disclose the split between equity and debt.
The proceeds will fund recruitment and organizational expansion. Green Growth helps solar power plant owners improve revenues, including by adding battery storage, and develops new generation and storage projects. It also manages electricity and environmental-value trading for producers and corporate electricity users.
Use of funds
Recruit staff and strengthen organization for solar and battery projects and energy trading