NTT Anode Energy and Mitsubishi Corporation agree to study cooperation in the energy sector business

Japan’s Mitsubishi Corporation (TYO:8058) and a unit of Nippon Telegraph And Telephone Corp (TYO:9432), or NTT, NTT Anode Energy Corporation, will consider a partnership in the renewable power business, according to a statement released today.

Mitsubishi and NTT Anode Energy will consider investing in renewable energy projects in Japan and other countries, while also investigating the potential for NTT Group companies to use power from such projects.

Another potential area of collaboration is a microgrid platform built for new decentralised energy businesses incorporating electric vehicles (EVs) as well as storage batteries. The two companies plan to develop a battery-lifetime-management business model for EVs that will optimise battery use, thus generating profits. In addition, battery storage will be installed at NTT’s communication buildings and at local government and Mitsubishi group facilities.

Mitsubishi will contribute its expertise in power generation to a potential collaboration while NTT Anode Energy Corp will help with its information and communication technology and DC power-supply technologies.

The agreement between the two companies is part of the industrial digital transformation partnership formed between Mitsubishi and NTT in December 2019.