# Forest Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/forest-energy

- Industry: Renewable Energy
- Headquarters: Tokyo, Japan
- Website: www.forestenergy.jp
- Total disclosed funding: $13M
- Latest round: Series C (May 17, 2022)
- Investors on record: 4

## About

Based in Japan, Forest Energy Inc. specializes in biomass energy systems, focusing on small-scale power generation and efficient boiler solutions utilizing local wood resources.Founded in 2015 and headquartered in Tokyo, Japan, Forest Energy Inc. promotes biomass energy solutions aimed at sustainable power generation. The company has engaged in three deals, with its latest funding round being a Series C, raising JPY 1,400.00 mn on October 25, 2023, from investors including DG Incubation, SIGMAXYZ Inc., and Tokyo Century Corporation. Shingo Numa serves as the CEO.Forest Energy Inc. specializes in the promotion and deployment of biomass energy systems, particularly focusing on small-scale power generation and boiler solutions. Their core products comprise biomass cogeneration systems ranging from 40-50 kW and chip boilers with capacities from 30-990 kW. These technologies efficiently utilize abundant wood resources in mountainous regions, enabling stable 24/7 power generation. The company primarily caters to local municipalities, businesses seeking renewable energy solutions, and residential users aiming to harness biomass for heating and power, extending its market reach beyond Japan to regions with accessible biomass resources.Forest Energy Inc. generates revenue through the sale and installation of biomass energy systems, engaging primarily in B2B transactions with municipalities and commercial entities. Clients can opt for direct purchases or long-term partnerships, often including service agreements for maintenance and operational support. Key products such as the Volter CHP and Heizomat boilers play a significant role in the transaction framework, providing clients with reliable and sustainable energy solutions. The company's business model focuses on delivering customized energy solutions that address the diverse needs of its clientele, ensuring a steady revenue stream from ongoing service and support engagements.In October 2023, Forest Energy Inc. raised JPY 1,400.00 mn in funding from new investor Azbil Corporation, which will be used to develop systems for onsite renewable energy generation. The company plans to introduce new products designed to enhance its existing biomass solutions and aims to expand its market presence into additional regions with favorable biomass resources. Specific target markets and timelines for these expansions have not been disclosed.

## Funding rounds

- Series C, May 17, 2022, $11M — SIGMAXYZ Inc., Tokyo Century Corporation, DG Incubation
- Series A, Aug 15, 2018, $1.8M — Japan Strategic Capital

## Investors

- Japan Strategic Capital (https://capitalatlas.ai/funds/japan-strategic-capital) — Series A
- SIGMAXYZ Inc. — Series C
- Tokyo Century Corporation — Series C
- DG Incubation (https://capitalatlas.ai/funds/dg-incubation) — Series C