#Japan #Tokyo #WeCharge #UbiDen #Sparx Fund

UbiDen's Initiative to Expand EV Charging Infrastructure

In a significant step towards a greener future, UbiDen Inc., headquartered in Minato, Tokyo, has recently finalized a funding round through a third-party allocation of new shares, sourced from Sparx Asset Management's Future Creation Fund No. 3. This new capital will primarily be allocated to significantly enhance the "WeCharge" EV charging infrastructure specifically targeted at apartment complexes. This initiative reflects UbiDen's commitment to propelling the transition towards an electric vehicle (EV) society.

Addressing the Need for Charging Infrastructure

The Japanese government has set an ambitious target to achieve carbon neutrality by 2050, aiming for 100% electric vehicle sales in new cars by 2035. To support this goal, guidelines were released in October 2023 to facilitate the establishment of charging infrastructure, including plans for 200,000 charging points in collective housing units by 2030. In Tokyo, specific mandates require that all newly built apartments incorporate charging facilities starting fiscal 2025, with an overall goal of 60,000 charging points by 2030. Such initiatives suggest a rapid increase in the availability of EV charging capabilities in apartment environments.

According to the 2020 national census, 44.6% of Japanese households reside in apartment complexes. Urban areas experience even higher concentrations; for instance, Tokyo's figure stands at 70.3%, with 75.2% in the 23 special wards and other major cities like Fukuoka City at 78.4%. The data indicates that ensuring the availability of home charging facilities in apartments is pivotal for promoting EV adoption in urban centers.

Since launching the "WeCharge" service in June 2021, UbiDen has emphasized home charging as a core component of the EV lifestyle, working closely with apartment management associations and developers to expand the presence of home charging solutions.

Overcoming Challenges in Apartment Charging

Currently, there is a noticeable gap in EV ownership rates between single-family homes and apartment residents. Several barriers hinder the implementation of EV charging infrastructure in apartment settings:

• - Power Capacity Limitations: Many apartments face constraints on overall power capacity, making it difficult to ensure ample electricity for multiple EVs charging simultaneously.
• - Approval for Common Areas: Since parking lots are communal, installing charging facilities requires approval from the building's management association.
• - Cost of Implementation and Maintenance: Traditional charging infrastructure tends to have high installation costs, alongside complex billing systems for individual users.
• - Parking Structure Limitations: Many apartments feature challenging structures, such as underground or mechanical parking, complicating installation efforts.

These challenges create a scenario where the standard practice of charging EVs at home using a dedicated outlet becomes difficult for apartment residents. Therefore, establishing an environment where the 44.6% of the population living in apartments can enjoy easy and affordable access to charging solutions is critical to expanding EV infrastructure.

Utilizing New Funding for Expansion

The funds raised will be directed towards several key initiatives:

• - Nationwide Expansion of the "WeCharge" Service: UbiDen aims to actively promote the installation of EV charging facilities in apartment complexes, ensuring that more residents can access home charging options.
• - Enhancing Next-Gen System Development: UbiDen will bolster its proprietary energy management system, incorporating innovative features such as compliance with specific measurement metrics, time-based billing, and AI-driven optimal charging control, thereby enhancing user convenience and cost-effectiveness.
• - Expanding Strategic Partnerships: The company will broaden collaborations with apartment management companies, electrical contractors, and energy providers to accelerate the adoption of the "WeCharge" service in more locations.

Sparx's Future Creation Fund is dedicated to investing in companies with innovative technologies or business models that aim to resolve social issues such as carbon neutrality and electrification. With this funding, UbiDen reaffirms its mission to deliver comfortable EV charging solutions to everyone, emphasizing the importance of convenience and user autonomy in the evolving EV landscape.

Conclusion

As the electric vehicle market grows, UbiDen's strategic expansions and innovative solutions will play a crucial role in shaping a sustainable future for urban transportation in Japan. With the backing of the Future Creation Fund, UbiDen is poised to address the unique challenges faced by apartment residents, paving the way for widespread EV adoption in urban settings.

For more information on UbiDen and the "WeCharge" services, visit their corporate website or the WeCharge site.