Tsubame BHB Co., Ltd. (Head Office: Chuo-ku, Tokyo; CEO: Masahiro Watanabe; hereinafter, “the Company”) seeks to realize on-site ammonia production at small plants for practical-use via an electride catalyst. On June 2, 2021, the Company raised a total of 400 million yen through third-party allocation of new shares to Daiichi Jitsugyo Co., Ltd. and NYK Line.

Background of Fund Raising

The Company is currently developing a compact ammonia production device using an electride catalyst that is capable of highly-efficient synthesis of ammonia under low-temperature and low-pressure conditions. This electride catalyst was discovered and invented by a research group led by Honorary Professor Hideo Hosono of Tokyo Institute of Technology. Since October of 2019, we have conducted technical evaluation of the device at a pilot plant in our Kawasaki Branch. The obtained results indicate the high possibility of reducing the amount of catalyst by 30%. We will utilize the raised funds to promote our business toward the practical use of on-site ammonia production for commercial machines.

Main Use of Funds from the Capital Increase

• Introduce technologies on-site
• Establishing a modular process
• R&D for mass production of next-generation catalysts
• R&D aimed at improving process efficiency and productivity

Comments from Underwriters

Yasushi Marumoto, Managing Executive Officer, Daiichi Jitsugyo Co., Ltd.
We decided to take a stake in an ammonia synthesis technology that is based on an innovative catalyst developed by Tsubame BHB, and we expect that it will greatly contribute to the widespread use of ammonia, which is now gaining attention as an alternative energy source for the future. While enhancing functions as a “next-generation engineering trading company,” we will promote the spread of on-site ammonia production equipment and promote efforts toward the realization of a carbon-free society by taking advantage of our global network of 34 bases.

Toshi Nakamura, Executive Officer, NYK Line
Ammonia is expected to be a next-generation fuel because, in addition to being used as a raw material for fertilizers, it does not emit carbon dioxide when burned. It is also said that by using CO2-free hydrogen as the raw material for the ammonia, zero emissions can be achieved. Needs are expected to grow dramatically. The solution by Tsubame BHB Co., Ltd. corresponds to this, and as an investor from the comprehensive logistics industry, we at NYK desire to help establish the ammonia supply chain for contributing to the realization of a carbon-free society.

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