Azbil and Forest Energy Form Capital Alliance for Expanding Solutions in the Renewable Energy Field

Azbil Corporation has announced an investment agreement with Forest Energy Inc., headquartered in Tokyo. To support the realization of a sustainable society powered by renewable energy, Azbil is underwriting Forest Energy’s third-party allocation of new shares.

Forest Energy is an energy company focused on the recycling of regional wood resources. It is involved in the planning, development, and operation of woody biomass power plants that enable local resources to be converted into a product, energy, for local consumption. Forest Energy also imports, sells, installs, and maintains small biomass combined heat and power (CHP) facilities. By drawing up and implementing distributed-energy plans so municipalities can use such facilities, the company is engaged in improving regional resilience by tackling both environmental issues and local challenges.

This capital participation will enable Azbil to strengthen its services, such as the supply of renewable energy (electricity and heat) to customers—municipalities, buildings, factories, etc.—with access to local forest resources. This will also expand the solutions Azbil can offer as part of its environmental value-added energy service provider (ESP) business for the supply of on-site renewable energy.

Drawing on the knowhow and technological capabilities it has acquired over decades of experience in energy management, Azbil will work with Forest Energy to establish a business model for renewable energy use that integrates supply and demand, utilizing local forest resources to contribute to regional decarbonization.