CHITOSE BIO EVOLUTION PTE. LTD., the leader of the global bioeconomy and the headquarters of the CHITOSE Group (hereinafter “CHITOSE”), has successfully concluded a total of 21M USD new share issuances through a third-party allotment with Shiseido Company, Limited, NGK INSULATORS, LTD., Mitsui Mining & Smelting Co. Ltd. (*1), Mitsubishi Kakoki Kaisha.Ltd., Amano Enzyme Inc., Mers Line Pte. Ltd. (*2), Ikeda tohka Industries Co., Ltd. and SHINSHO CORPORATION. The funds raised will be allocated towards the expansion of the microalgae production facility and R&D of product applications in order to accelerate MATSURI, the project to build a microalgae-based industry to replace the petroleum industry. Through these commitments, CHITOSE will contribute to the realization of zero carbon emissions and work together with others toward a prosperous future that will last beyond a thousand years.
*1 Investment by Mitsui Kinzoku-SBI Material Innovation Fund with Mitsui Mining & Smelting Co. Ltd. as a Limited Partnership and SBI Investment as a General Partnership.
*2 Investment by Sun Sail Navigation Pte. Ltd., which belongs to the Mers Line Pte Ltd. group.
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