Tokyo Electric Power Company (TEPCO) has established a new subsidiary, TEPCO Ventures, to turn new businesses into venture companies.
The new business unit started operations on July 2 to help its owner to respond fast and more effectively to deregulation and energy market changes.
The subsidiary will help TEPCO cope with decentralisation, decarbonisation and digitalisation of its operations in Japan and overseas.
TEPCO established the subsidiary with a capital of 5 million yen.
TEPCO Ventures will develop, invest in and support new businesses in a variety of fields for next-generation “Utility 3.0”.
The new firm will invest in enhancing the development of energy and industrial platforms including distributed energy, storage batteries, infrastructure utilising drones, IoT technologies for location services and power infrastructure beyond the scope of electricity.
TEPCO Ventures replaces the utility’s New Business Task Force which has been investing in new technologies, however with limited resources and focus.