Japanese power producer Jera launches $300m VC unit

Jera Ventures has been positioned as “a sandbox for people who are serious about changing the world,” flagging climate change, resource constraints, and energy security as core to the remit. It will invest primarily in energy sector businesses, but corporate wellbeing and women’s wellbeing are also on the agenda.

Energy transition is a focus area, including decarbonisation technologies and the value chains for hydrogen, ammonia, and renewables. Digital energy platforms and related technologies, such as artificial intelligence and blockchain are also of interest.

“Jera Ventures will, with a strong sense of social responsibility and a belief in the power of imaginative innovation, co-create with visionary start-ups that brings new ideas or perspectives as it takes on the challenge of discovering new solutions that transcend received wisdom,” the company said in a statement.

Jera was created in 2015 from a merger of Tokyo Electric Power and Chubu Electric Power. The company has 27 active coal and gas power stations locally and is recognised as Japan’s largest liquefied natural gas buyer. It is pushing into renewables, with some solar and wind projects under development overseas.

Jera said it would promote the adoption of renewable energy and greener fuels, as well as pursue thermal power that does not emit CO2 during generation. This is part of Japan’s plan to achieve zero CO2 emissions by 2050.

Jera identified several specific domains of technological development as part of its zero CO2 roadmap, including CO2 separation and recovery systems and ammonia synthesis technologies. Last year, it teamed up with Sumitomo Chemical to develop recycling technologies for electric vehicle batteries.

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