News release

Accelerating Efforts Toward the World’s First Mass-Produced Wave-Power Generation Systems¹

Metal One Corporation (headquartered in Chiyoda-ku, Tokyo; President and CEO: Yoshiyuki Watanabe) has invested additional funds in Global Energy Harvest Co. (GEH) through a third-party allotment of new shares. GEH is developing wave-power generation systems that have attracted attention as a new type of renewable energy source.

This additional investment brings GEH’s total financing to ¥400 million, with leading electrical equipment manufacturer Nitto Kogyo Corporation and Tier 1 automotive parts manufacturer Aikitec Co., Ltd. underwriting the new shares.

GEH’s wave-power generation equipment systems—Reciprocating Rotary Acceleration Power Generation™² and Circulatory Wave Pumping Power Generation™³—combine existing Japanese processing and manufacturing technologies from the industrial base including steel, cars, appliances and shipbuilding, offering high technical feasibility and technological innovation. Installed on unused harbor wharfs or breakwaters, they are very safe and easy to maintain. Carrying out power line installation work as well as removing and recycling these systems at the end of their lifecycle are simple. In addition, they are expected to have a relatively low impact on the fishing industry and the environment.

Since first investing in GEH in August last year, Metal One has focused on supporting the company’s efforts to create real-world applications for wave-power generation by supplying materials and building supply chains, in line with GEH’s philosophy that touts wave-power generation as a new type of renewable energy source throughout Japan. We will also collaborate and coordinate with our business partners on developing new ventures for the energy recycling society of the future, accelerating the advance of systems to mass-produce this world’s-first wave-power generation equipment.

¹ Reciprocating rotary acceleration and circulatory wave-pumping power-generation systems, for which patents were acquired.
² Reciprocating rotary acceleration generates power via a compact generator installed on a wharf or similar structure. The system converts the up-and-down motion of the float that waves generate into rotational motion that drives a generator and produces electricity.
³ The basic principle of circulatory wave pumping power generation is to use wave energy to pump water up and then employ the drop in elevation to generate hydropower.

For more information, please contact:
Hajime Kimura or Toshiyuki Higuchi
Corporate Communications Unit, Corporate Administration, Safety & Health Department, Metal One Corporation
Phone: +81-3-6777-2816 / Email: mo.pr@mtlo.co.jp