📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) made an equity investment in TeraWatt Technology Inc. (TeraWatt Technology; Headquarters: California, United States; Co-founder and CEO: OGATA Ken), a U.S. company with Japanese founders. The investment, made through JBIC’s Special Operations Account*1, is based on its Startup Investment Strategy*2.
TeraWatt Technology develops, manufactures, and sells next-generation batteries that offer high energy density, enhanced safety, and cost advantages. Backed by global investors, including Khosla Ventures and Temasek, the company aims to drive electrification in diverse fields such as electric vehicles (EVs), drones, emerging applications such as electric vertical takeoff, and landing aircraft (eVTOL), and energy storage systems (ESS) for domestic and oversears customers. Its business contributes toward realizing a decarbonized society and enhancing the global competitiveness of Japanese industry.
The investment will support TeraWatt Technology’s global expansion, thereby contributing toward strengthening the international competitiveness of Japanese industry. Additionally, in the Startup Development Five-year Plan, approved by the Cabinet in November 2022, the Japanese government announced its goals, which include nurturing startups that aggressively challenge the global market. This investment is in line with the government policy.
As Japan's policy-based financial institution, JBIC will contribute to the development of Japan’s startup ecosystem by supporting the overseas expansion of Japanese startups and promoting collaboration between foreign startups and Japanese companies. This will be achieved through investment activities and support for portfolio companies based on its Startup Investment Strategy.
