Participated · Series B · Aug 2023

PowerX builds and manufactures large-scale battery storage systems and EV charging infrastructure, and is developing electric transport ships and renewable power supply services. The company is constructing a large-scale battery factory called “Power Base” in Tamano, Okayama; the module factory building was completed on August 15, 2023, with equipment installation and trial operations planned by year-end. PowerX has secured product adoption for grid-scale battery systems and is supplying systems to projects including TENOHA Higashimatsuyama and new utility-scale storage sites in Ota and Isesaki. Its Hypercharger EV ultra-rapid chargers (Standard and Compact) obtained CHAdeMO 2.0.1 certification and will be deployed at the company’s charging stations. PowerX reported a cumulative funding total surpassing ¥15.2B and had ¥13,865 million in capital (including capital reserve); the company had 92 employees as of August 2023. Founded in March 2021 and headquartered in Minato-ku, Tokyo, PowerX is pursuing partnerships and deployments to scale storage and renewable integration across Japan. PowerX designs and manufactures large-format battery products and an ultra-rapid EV charger called "Hypercharger." The company has established a wholly owned manufacturing subsidiary, PowerX Manufacturing (PXM), to produce battery-related products. It is building a large battery assembly factory called "Power Base" in Tamano, Okayama, with the manufacturing building expected to be completed in August and trial operations planned by year-end. PowerX has begun component or pilot manufacturing at a partner factory in Tokushima and installed a Hypercharger test unit in Aoyama with public trials for EV owners soon to start. The company plans a summer commercial service launch for its EV charging business and aims to open 10 urban sites in Tokyo by year-end. PowerX says it intends to scale Power Base’s battery module manufacturing capacity to up to 10 GWh per year as part of its growth plans. PowerX develops and manufactures grid-scale battery systems and EV charging equipment, including the Hypercharger ultra-fast, battery-backed EV chargers. The company is building a large battery factory called “Power Base” in Tamano, Okayama, and is rolling out its storage products for grid and commercial customers. It has secured commercial adoption for system deployments with projects such as TENOHA Higashimatsuyama and new battery stations in Gunma by Olympia. PowerX is pursuing partnerships to develop renewable generation and storage jointly with West Group, targeting 200 MWh of storage and 30 MW of solar by spring 2025, and is exploring electric transport-ship and port use cases with Muroran. The company plans to use the newly raised funds for battery R&D and for purchasing manufacturing equipment for Power Base. As of this round, PowerX’s cumulative fundraising totals about ¥15.26 billion.