Japanese recycling startup debuts on NYSE

Welcome! I am Hiroyasu Ichikawa, ichi, and this is issue 96 of the "Japan Climate Curation" newsletter??, which curates Japan-related climate news content every week since spring 2022, with over 2,200 subscribers. You can subscribe by clicking on the Linkedin page or the substack link.

I hope you find the articles below beneficial for reading (or skimming)!

[????????Japan Climate News Headlines]

【1】Japanese Recycling Upstart Tests Waters With SPAC Debut on NYSE [3/11 Bloomberg]

• Jeplan Inc., a Japanese recycling startup, debuts on NYSE through a SPAC merger, showcasing innovative PET recycling technology and growth potential amidst challenging SPAC trends.
• Valued at $300 million, Jeplan's SPAC merger underlines the global chemical recycling market's potential.
• Jeplan's innovative PET bottle recycling technology and partnership with Asahi Group highlight its growth and expansion strategy, with listing proceeds to boost R&D and capacity.

【2】Breaking down the problem of plastic in the sea [3/7 NHK World]

• In Japan, innovative degradable plastics are being developed to tackle marine pollution, particularly from the fishing industry, with strong government and corporate support promising a significant environmental impact.

【3】Trailblazing Women in Climate 2024 - Dr Kimiko Hirata [3/8 Reuters]

Dr. Kimiko Hirata launched Climate Integrate in 2022, addressing climate change with over two decades of dedication. She has been recognized internationally, receiving awards like the Goldman Environmental Prize, and has actively fought against coal power in Japan. Hirata emphasizes the importance of integrated, accessible climate policy analysis and action, and engages in various educational and advisory roles.

【4】Japan’s revered outdoor brands face down PFAS challenge [3/10 The Japan Times]

• PFAS, or "forever chemicals," used in outdoor clothing for their water, oil, and stain repelling properties, are facing increased regulatory scrutiny worldwide due to environmental and health concerns.
• Japan's renowned outdoor brands, including Montbell, are under pressure to find alternatives as global regulators tighten PFAS restrictions, although Japanese industries have been slow to adapt due to challenges in finding substitutes.
• Initiatives by companies like Amphico developing PFAS-free textiles and major brands aiming to phase out PFAS usage highlight a shift towards safer, environmentally friendly alternatives in response to consumer and regulatory pressures.

【5】Japan to expand offshore wind development into exclusive economic zone [3/12 Reuters]

• Japan's government approved a draft amendment for offshore wind power in the exclusive economic zone (EEZ), targeting carbon neutrality by 2050. The plan includes achieving 10 GW of offshore wind power by 2030 and up to 45 GW by 2040, emphasizing the need for floating offshore wind farms. The legislation allows for wind farms further out to sea, with provisions for environmental protection, public consultations, and fishery community consent.

【6】SSE's Japan unit aims to develop 6GW offshore wind farms [3/11 Reuters]

• SSE Pacifico aims to develop 6GW of offshore wind farms in Japan, targeting an international focus and regional hub development. The initiative supports Japan's goal to enhance offshore wind power production, aligning with the national decarbonisation strategy.
• The projects include significant local collaborations and a mix of fixed-bottom and floating wind farms, highlighting a new legislative push for offshore wind development.

【7】Toyota’s Hybrid-First Strategy Is Delivering Big Profits [3/9 New York Times]

• Toyota's focus on hybrids over purely electric vehicles is resulting in significant financial gains, despite criticism for lagging in the electric vehicle market. Hybrid and plug-in hybrid models, which Toyota is known for, have seen a sales surge in the US, leading to a booming business and substantial profits for the company. Toyota's strategy highlights the dynamic nature of the auto industry, emphasizing that electric vehicles are not the sole solution to carbon emissions, and offering consumer choice is valuable.

【8】U.S. nuclear fusion startup draws investment from Itochu, SoftBank [3/6 Nikkei Asia]

• U.S. startup Blue Laser Fusion(BLF), founded by Nobel Prize winner Shuji Nakamura, receives investment from Itochu and SoftBank for its nuclear fusion technology aimed at stable power generation with proprietary laser technology, targeting commercial viability by 2030. BLF to utilize high-powered lasers for sustained nuclear fusion, responding to the expected surge in electricity demand from AI and communications advancements, with SoftBank viewing fusion as a key clean energy source.
• BLF, established in 2022 and having raised $37.5 million, is exploring fusion ignition via laser technology, facing challenges like the need for at least 10 laser pulses per second for power generation. Japan and the U.S. emphasize nuclear fusion in their energy strategies, with BLF conducting initial experiments at Osaka University.

【9】Japan laser fusion startup seeks more partners [3/11 Nikkei Asia]

• Japanese startup EX-Fusion leverages laser fusion for clean energy, seeking more partners to overcome commercialization hurdles and utilize its technology's broad potential.

【10】Japan to offer higher prices for energy from flexible solar cells [3/8 Nikkei Asia]

• Japan's government to favor next-generation flexible solar panels, specifically perovskite cells, with higher feed-in tariffs to promote investment in the technology. The price for energy from perovskite cells will be set at 10 yen per kWh or more, aiming to encourage their use over traditional solar panels. Perovskite technology enables electricity generation in areas unsuitable for conventional panels, with Japan having a competitive edge in development quality.

??That's all for this week! Thank you for reading(or skimming) ??. I hope you will have a wonderful week ahead!

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ichi (Hiroyasu Ichikawa)