NEC Corporation (Head Office: Minato-ku, Tokyo; President and CEO: Takayuki Morita; hereinafter "NEC") and SINAI Technologies, lnc. (Head Office: San Francisco, California, Founder and CEO: Maria Fujihara; hereinafter "SINAI") (sinaitechnologies.com), a software company that supports the transformation of companies and organizations to achieve their net-zero targets, will commence collaboration on businesses that support decarbonization in November 2022.
In December 2021, NEC established an ecosystem-based corporate venture capital (CVC) fund, the NEC Orchestrating Future Fund (NOFF), which accelerates collaboration with customers and partners and introduces new services, knowledge, and technologies through investing in startups in order to lead an ecosystem for social value creation (*1).
NOFF invested in SINAI in September 2022, recognizing that SINAI's decarbonization business could greatly contribute to the achievement of NOFF's vision. NEC and SINAI have now decided to strengthen their relationship, aiming to create new social value and contribute to a carbon-free society.
By creating a partnership between NEC's GreenGlobeX environmental performance management solution and SINAI's Decarbonization Intelligence Platform for Reducing CO2 Emissions, the two companies will combine NEC's know-how in efficiently collecting and aggregating environmental data from multiple international bases, with SINAI's expertise in measuring and reporting Scope 1, 2 and 3 emissions (*2), calculating baselines for future CO2 emissions forecasts, formulating scenarios for low-carbon emissions, carbon pricing, and value chain management.
As a result, the two companies will be able to provide total support for efforts to decarbonize by making data collection and storage visible, then analyzing collected data and proposing CO2 reductions.
Going forward, the two companies will pursue new business opportunities that combine NEC's carbon management business with SINAI's emission visualization and reduction platforms for specific industries. Through this, the two companies aim to create an ecosystem for clients seeking to achieve decarbonization.
Kazuhiko Shiraishi, Senior Vice President, Public Solutions Business Unit, City Infrastructure Solution Division, NEC, said,“Under the Mid-term Management Plan 2025, NEC has positioned `Carbon Neutral-Related Business' as a growth business, and has pledged to contribute to the realization of a carbon-free society by utilizing IT technologies and data management. As part of this collaboration with SINAI, which has a strong track record of collaborating with prominent companies, particularly in South America, we will be able to provide not only visualization of CO2 emissions, but also a broad range of solutions, from predicting future emissions to proposing specific methods of reducing emissions. Together with SINAI, we will contribute to the realization of carbon neutrality for customers and communities throughout the world."
SINAI Founder and CEO Maria Fujihara, said,“We are excited to be working with NEC to help more global companies develop a strategy for reaching net zero. As a partner, NEC shares our goal of reversing climate change, their team adds a high level of expertise, and they bring an innovative approach to the use of technology. Together, we can make a bigger impact, both in Japan and around the world."
*1)Announced on December 17, 2021: "NEC establishes new US$150 million CVC fund"
*2)Scope 1 refers to a company's own direct emissions of greenhouse gases. Scope 2 refers to indirect emissions associated with the use of electricity, heat, and steam supplied by other companies. Scope 3 refers to indirect emissions other than Scope 1, and 2.
About NEC Corporation
NEC Corporation (nec.com) has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential.
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