Tokyo based Itochu Corp, announced that its subsidiary Itochu Europe Plc has invested in UK’s renewable energy developer Winch Energy Ltd. As per the agreement Itochu Europe has become Winch Energy’s newest shareholder. The other shareholders in the company are French renewable energy producer Total Eren SA, owned by Eren Groupe SA, and Saudi Arabia-based firm Al Gihaz.
The fresh investment from Japanese trading company helps Winch Energy to fund ongoing projects and future development needs. The company plans to install 300 remote power units in Sub-Saharan Africa, Asia and Latin America.
The main investments and acquisitions by ITOCHU in last 3 months are featured below:
January 2020: ITOCHU Corporation announced a capital and business alliance with Couger Inc., one of the top-seller of online games in Japan. Couger has a rich track record of online game development, and developing a large-scale search engine. The company also provides game AIs with human-like emotions, technologies for AI reliability in blockchain, and world-leading technologies for image recognizing AIs that read and analyze human expressions and gestures.
December 2019: ITOCHU Corporation has acquired approximately 24% of the issued shares of WingArc1st Inc. which offers software and services supporting companies’ data utilization, via their co-founded company, IW.DX Partners Inc.
November 2019: ITOCHU announced the acquisition of Jamieson Manufacturing Corporation, a U.S. based fence manufacturing and distribution company. Jamieson operates one chain link fence manufacturing facility in Arkansas and 24 distribution facilities across the Lower Midwest, the South and the Southeast in the United States.
About ITOCHU Corporation
ITOCHU Corporation is one of the leading sogo shosha of Japan. The Corporation engaged in domestic, and overseas trading of various products such as textile, machinery, general products, metals, minerals, energy, oil and gas, chemicals, food, realty, information and communications technology, and finance, as well as business investment in Japan and overseas. The company has approximately 110 bases in 63 countries.