Sharp and ELIIY Power Reach Agreement to Collaborate
Sharp Corporation and ELIIY Power Co., Ltd. (Head office: Chiyoda-ku, Tokyo, President & CEO: Hiroichi Yoshida, hereinafter referred to as “ELIIY Power”) have reached an agreement to collaborate on the development of a large-capacity lithium-ion battery. The two companies are aiming to develop both a lithium-ion battery with enhanced storage capacity and the cost-competitive technology to mass-produce it.
Sharp acquired the common stock of ELIIY Power through third-party allotment and will assign an external director to ELIIY Power. The two companies will collaborate to commercialize the Autonomy-Enhanced Solar Power Generation System,* for which demand is expected to grow.
1. Contents of Agreement
Collaboration on the development of a large-capacity lithium-ion battery for use with a solar power generation system and for the development of mass-production technology
2. Acquisition of Stock through Third-Party Allotment
(1) Total value of shares to be acquired: 600,000,000 yen
(2) Total number of shares to be acquired: 3,000,000 shares
(3) Acquisition price: 200 yen per share
(4) Percentage of Sharp-held shares after acquisition: 32.10%
3. Assignment of External Director
Shigeaki Mizushima, Corporate Executive Director, Group General Manager, Corporate Research and Development Group, will be appointed as external director of ELIIY Power Co., Ltd. on June 13, 2008.
4. Company Profile of ELIIY Power Co., Ltd.
(1) Head office: Yurakucho Denki Building South Tower 5F 1-7-1, Yurakucho, Chiyoda-ku, Tokyo, Japan
(2) Date of incorporation: September 28, 2006
(3) Total capital: 1,824,000,000 yen (including capital stock of 924,000,000 yen). Shares are held equally by three companies: Daiwa House Industry Co., Ltd. 32.1%; Dai Nippon Printing Co., Ltd. 32.1%; and Sharp Corporation 32.1%.
(4) Principal business: Mass production of large-capacity lithium-ion batteries and development of a battery and peripheral equipment with cost-competitive features.
(5) Web site: http://eliiypower.co.jp/
Autonomy-enhanced solar power generation system refers to a solar power generation system that stores electricity through a lithium-ion battery and to the electricity stored in the battery. This system minimizes changes in electric output brought on by weather conditions or the amount of sunshine. Electricity generated during the daytime can be used at night.
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