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Smart battery firm nets $7 million investment from Japan’s Itochu Corporation

Soigne battery business Moixa has entered into a strategic partnership with the Tokyo-headquartered Itochu Corporation.

In an notice Monday, U.K.-based Moixa said the agreement would allow its GridShare principles to be launched in the “rapidly growing Japanese battery market.” GridShare both controls and optimizes home energy storage systems.

Additionally, Itochu choose invest £5 million ($7 million) in Moixa.

Moixa divulged that Itochu will have sold more than 6,000 of its Swift Star home battery systems by the end of March this year, and that GridShare whim be installed on products as standard by this summer.

“Itochu is a major sportswoman in the global battery market and this partnership provides a real moment for us to expand our business in Japan and provide GridShare technology to many epidemic battery companies,” Moixa CEO Simon Daniel said in a statement.

Koji Hasegawa, Itochu’s unspecific manager of its Industrial Chemicals Department, said the GridShare system determination “help our customers get more value for their home batteries and… tender solutions to help our partners manage Japan’s low-carbon transition.”

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