Dai ichi Life : Impact Investment in a Venture Fund by Energy & Environment Investment, Inc.- Supporting a Decarbonized Society via Venture Fund Focused on the Environment and Energy Sectors - PDF

September 15, 2022

Impact Investment in a Venture Fund by Energy & Environment Investment, Inc.

- Supporting a Decarbonized Society via Venture Fund Focused on the Environment and Energy Sectors -

The Dai-ichi Life Insurance Company, Limited (the "Company"; President and Representative Director: Seiji Inagaki) has decided to invest JPY 1.5 billion in the "EEI Fund 5 Innovation and Impact Investment" (the "Fund"), a venture fund formed by Energy & Environment Investment, Inc. ("EEI"; President: Shuichiro Kawamura) that focuses on the environment and energy sectors. This impact investment1 is a part of the Company's ESG investments.

EEI is Japan's only independent venture capital focused on the environment and energy sectors. In 2019, the Company invested in the "EEI Fund 4 Innovation and Impact Investment" formed by EEI2 and highly regards EEI's records of investing in and fostering startups in the environment field. The Company has decided to make investments in the Fund formed this time too, in the expectation that it will encourage the further promotion of in Japan. The Company supports the business growth of startups that create innovation and business in the environment and energy sectors and expects that it will accelerate the realization of carbon neutrality by 2050.

Through this investment, the Company not only expects investment returns, but will provide capital support for the initiatives of EEI, which are expected to reduce greenhouse gas (GHG) emissions (social impact). Further, the Company will continuously monitor the progress of these initiatives.

As a responsible institutional investor, the Company will continue to actively engage in ESG investment to realize a sustainable society as well as to improve its investment returns through sophisticated and diverse investment methods.

1. Impact investment is an investment activity where an investor makes investment decisions with the intent to gain investment returns and generate social impact (e.g., structural change in society).
2. Dai-ichiLife to Impact Invest in Venture Fund managed by Energy & Environment Investment, Inc. -Japan's Only Independent Venture Capital Focused on the Energy and Resource Related Sectors-https://www.dai-ichi-life.co.jp/english/news_release/2018/pdf/index_015.pdf

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Shuichiro Kawamura, President of Energy & Environment Investment, Inc., provided the following comments:

Amid the accelerating trend toward decarbonization, innovation and business creation are essential to achieving the goal of a carbon -free society. As such, more and more startups are emerging to take on these challenges. Having designated the three investment fields of Energy Transition, Mobility & Transportation, and Smart Society, the Fund will invest in startups with innovative business models or technologies that will contribute to the realization of a sustainable society with a focus on decarbonization. Looking to 2030, we believe that social issues such as interim decarbonization targets and SDGs targets will become more acute as time goes on, therefore the Fund aims to help resolve these social issues while maximizing investment returns.

[Company Profile]

Name of the Fund	EEI Fund 5 Innovation and Impact Investment
Manager	Energy & Environment Investment, Inc.
Head Office	5-11-1Higashi-Gotanda,Shinagawa-ku, Tokyo, Japan
Representative	President Shuichiro Kawamura
Established	March 2006
Business Description	Japan's only independent venture capital focusing on the energy and resource related sectors

Dai-ichi Life's Impact Investment History (Last 3 years)

Headline		Release Date	URL
Dai-ichi Life to Impact Invest in M odulus Discovery, Inc.			https://www.dai-ichi-
- Contributing to Realizing Accessible Healthcare for All by Cutting Development	M ay 13, 2020	life.co.jp/english/news_release/2020/pd
Timelines and Costs of Pharmaceuticals -			f/index_003.pdf
Impact Investment in M etcela Inc.			https://www.dai-ichi-
- Contributing to Extending Healthy Life Expectancy of Patients with Heart Failure	Jan. 4, 2021	life.co.jp/english/news_release/2020/pd
through the Development and Provision of a New Treatment -			f/index_017.pdf
Impact Investment in Sharing Energy Co., Ltd.			https://www.dai-ichi-
- Contributing to CO2 emission reduction through distributed renewable	energy	Feb. 15, 2021	life.co.jp/english/news_release/2020/pd
power generation for residential solar power -			f/index_021.pdf
Impact Investment in GITAI Japan			https://www.dai-ichi-
- Contributing to Economic Growth through Promotion of Space Development by	M ar. 1, 2021	life.co.jp/english/news_release/2020/pd
M eans of R&D for Space Worker Robots -			f/index_024.pdf
Impact Investment in Noile-Immune Biotech, Inc.			https://www.dai-ichi-
- Extending Healthy Life Expectancy through Development and Provision of Next-	M ar. 22, 2021	life.co.jp/english/news_release/2020/pd
Generation Cancer Immunotherapy -			f/index_028.pdf
Investment in Climate Infrastructure Fund for Emerging Countries			https://www.dai-ichi-
- Contributing to Resolving Climate Change Challenges Through	Joint	Jul. 8, 2021	life.co.jp/english/news_release/2021/pd
Public/Private Support for Development of a Low Carbon Economy -			f/index_003.pdf
Impact Investment in RIVERFIELD Inc.			https://www.dai-ichi-
- Contributing to Improving Patients' Quality of Life by Lessening Burden on M ind	Jul. 30, 2021	life.co.jp/english/news_release/2021/pd
and Body Through Usage of Surgery Support Robots -			f/index_005.pdf
Impact Investment in PaM eLa Co., Ltd.			https://www.dai-ichi-
- Contributing to Improving Patients' Quality of Life through Development of	Sep . 29, 2021	life.co.jp/english/news_release/2021/pd
M edical Device That "Visualizes" Pain Using Brain Waves -			f/index_008.pdf
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Impact Investment in WASSHA Inc.		https://www.dai-ichi-
- Contributing to Sustainable Development through Offering an Electric Power	June. 10, 2022	life.co.jp/english/news_release/2022/pd
Service to Off-Grid Communities in Africa -		f/index_004.pdf
Impact Investment in READYFOR INC.		https://www.dai-ichi-
- Achieving a Society that Overflows with Heartfelt Support through Vitalization of	Jul. 13, 2022	life.co.jp/english/news_release/2022/pd
the Donation and Subsidy M arket -		f/index_005.pdf
Impact Investment in Clean Energy Connect		https://www.dai-ichi-
Aug. 1, 2022	life.co.jp/english/news_release/2022/pd
- Accelerating uptake of renewable energy by expanding off-site corporate PPAs -
	f/index_006.pdf
Impact Investment in JEPLAN, INC.		https://www.dai-ichi-
- Contributing to a Sustainable Society through PET Chemical Recycling	Aug. 24, 2022	life.co.jp/english/news_release/2022/pd
Technologies -		f/index_007.pdf

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