NSK invests in CHITOSE Group to strengthen bioeconomy business co-creation
One of the world’s leading motion and control specialists, NSK, is investing ¥500 million (approximately €3.1 million - conversion accurate as of September 2024) in CHITOSE Group, a family of biotechnology companies spearheading the global bioeconomy.
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NSK President and CEO Akitoshi Ichii (left) with Tomohiro Fujita, CEO of CHITOSE Group
NSK and CHITOSE Group are already engaged in a collaboration, undertaking business creation centred on biomass recycling. In spring 2024, the two companies achieved notable success via the first sales of a co-developed biomass ‘composting’ plant.
Having paved the way for commercialisation, NSK and CHITOSE Group are now strengthening their co-operation. Through the acquisition of shares via third-party allotment, NSK has invested around €3.1 million in CHITOSE BIO EVOLUTION PTE LTD (CHITOSE Group headquarters) and commenced a business alliance agreement with Chitose Laboratory Corporation, a core CHITOSE Group company. The ambition is to expand existing biomass recycling activities and co-create new business.
“The bioeconomy is poised for substantial growth across sectors such as food, environment and medical/health care, promising significant expansion in the coming years,” states NSK President and CEO Akitoshi Ichii. “Strengthening our collaboration with CHITOSE Group, renowned for its wealth of knowledge and expertise in this field, will enable us to diversify our business reach and play a pivotal role in driving the realisation of a circular society through our advanced tribology and manufacturing technologies.”
CHITOSE Group CEO Tomohiro Fujita adds: “CHITOSE Group has a proven track record of addressing social issues through the implementation of innovative circular solutions that include circular hydroponic cultivation using organic materials and microalgae production utilising CO2 emissions from exhaust gasses. By combining the expertise of NSK in the field of precision equipment with our sector-leading knowledge and experience, we make a significant step towards realising a circular society.”
The new arrangement builds on collaborative efforts between the two companies that date back to 2021. NSK’s expertise in mechatronics led to the co-development of a composting system for customers such as zoos and resort hotels that turns unused biomass (like animal waste and food residues) into valuable resources rather than sending it for disposal. The aesthetically pleasing barrel-shaped design attracts the attention of visitors, while the option to install a monitoring system allows users to visualise the ‘composting’ process carried out by micro-organisms invisible to the naked eye.
With the first customers already using the new composting system, the two companies are now planning a sales expansion programme as part of the new investment.
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