WAI editor
May 22, 2024
NGK Spark Plug, in collaboration with venture capital Global Brain, is launching an investment fund aimed at startups working on hydrogen-related businesses and promoting a circular economy.
The fund, named the "Niterra Hydrogen Forest Fund," will have a scale of 4 billion yen and an expected operation period of 10 years. NGK Spark Plug will provide the majority of the funding, while Global Brain will take the lead in selecting and managing the investments.
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To support the commercialization efforts of the funded startups, NGK Spark Plug will establish a dedicated demonstration facility at its Komaki plant in Komaki City, Aichi Prefecture. The facility will cover an area of 5,000 square meters and will include hydrogen supply systems among other infrastructure. The initial investment for this facility is projected to be 500 million yen, with completion expected in November.
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The demand for NGK Spark Plug’s core product, spark plugs for gasoline vehicles, is expected to decline in the long term due to the rise of electric vehicles (EVs). In response, the company is accelerating the development of new products and businesses. Through this fund, NGK Spark Plug aims to boost growth in the hydrogen and decarbonization sectors by supporting innovative startups.