•  
  •  
  •  

Japanese renewables retailer Trende secures USD 6.5m in Series A funding

Tokyo. Author: Bernhard Friess. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

September 25 (Renewables Now) - Japanese online renewable energy retailer Trende Inc has closed a JPY-730-million (USD 6.5m/EUR 5.5m) Series A funding round, with TEPCO Ventures as a lead investor, Trende announced today.

Other strategic investments came from Showa Shell Sekiyu KK and Dubai Electricity and Water Authority (DEWA). The funding round will allow Trende to continue growing its technical team and to build upon the results it has achieved, the firm said in a statement.

A spin-out from Japanese utility Tokyo Electric Power Company Holdings Inc (TYO:9501), Trende offers flat rate plans through the Ashita Denki service, and also provides Hot Denki, which incentivises customers to become prosumers. The company installs, operates and maintains solar panels on rooftops and shares the cost savings with the homeowners. No upfront costs are incurred by the customers and at the end of the contract term the ownership of the solar panels is transferred to them.

Trende expects its services to step up the adoption of solar power in Japan and aims to leverage block chain technology to create a peer-to-peer (P2P) marketplace for renewable energy producers and consumers.

(JPY 100 = USD 0.886/EUR 0.753)

More stories to explore
Share this story
Tags
 
About the author

Svilena is the latest addition to the Renewables Now team. Based in Italy, she will be focusing on the local market and on the rise of energy storage, e-mobility and mini grids globally.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription