IBeeT Inc. ("IBeeT"), Tokyu Land Corporation ("Tokyu Land"), and Akaysha Energy Japan Inc. ("Akaysha") have jointly established Iizuka Seta Battery Storage LLC ("the Company") through joint investment and commenced construction of a grid-connected battery energy storage system (rated output 20MW / rated capacity 82MWh) in the Seta district of Iizuka City, Fukuoka Prefecture. This storage facility will contribute to the stabilization of power supply and demand in Kyushu as an adjustment capacity power source to complement the output fluctuations of renewable energy. This project will utilize subsidies from the Ministry of Economy, Trade and Industry (FY2024 Subsidy Program for the Promotion of Renewable Energy Introduction and Support for the Introduction of Grid-Connected Battery Storage Systems and Other Electricity Storage Systems). Image of the completed storage facility 1. Market Conditions and Significance of Initiatives Towards the realization of carbon neutrality by 2050, the need for batteries that can compensate for the output fluctuations of renewable energy (hereinafter referred to as "RE"), which are significantly affected by weather and time of day, is increasing with the expansion of RE introduction. Kyushu, in particular, is a region where RE facility introduction is leading and output controls occur frequently, creating a high demand for storage facilities that can provide supply-demand adjustment functions. Through storage facility projects in Kyushu, IBeeT, Tokyu Land, and Akaysha will work together to address the social issue of achieving a decarbonized society. 2. IBeeT's Initiatives IBeeT will be entrusted with project management services by the Company and will provide management support related to the launch of the storage facility, including battery system construction and the establishment of an operational structure after completion. 3. Project Overview Scheme Diagram 4. Each Company's Initiatives Regarding Battery Storage Business ●IBeeT I