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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
  Report
Delayed Japan Exchange  -  01:00 2022-12-08 am EST
4361.00 JPY   -1.11%
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SINAI Technologies raises $22 mln backed by Energize Ventures

09/27/2022 | 09:30am EST

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SINAI helps companies cut emissions and reallocate capital

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ArcelorMittal, Natura, Toshiba, Siemens among SINAI customers

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Presidio Ventures, NEC Translink Capital take part in round

Sept 27 (Reuters) - U.S.-based SINAI Technologies, which produces technology to help companies measure carbon emissions and recommends ways of mitigating them, has raised $22 million from investors including Energize Ventures to fund growth, it said on Tuesday.

The Series A - early-stage - funding round, in which Japanese-owned investment companies Presidio Ventures and NEC Translink Capital also took part, brings SINAI's total funding to $37 million, and will be used to speed up the firm's international expansion and grow its team of climate experts.

SINAI looks to help companies automate the way they are monitoring and pricing carbon analysis to better calculate their emissions, at a time when a growing number of corporations are committing to net zero.

"It's interesting how the financial sector all of a sudden now is demanding this kind of information to be disclosed," the group's Chief Executive Officer and Founder Maria Fujihara told Reuters, citing a high number of requests to join SINAI.

The company's technology allows its customers, including ArcelorMittal, Toshiba and Siemens, to collect financial and environmental data before recommending ways of mitigating emissions across thousands of projects per industry - steel, transportation, cement or agriculture.

"We decided to go after the hardest industries with the hardest solutions possible," Fujihara said. "But it's ultimately up to the (companies) to decide where they are going to invest."

Eileen Waris, principal at Energize Ventures, said that SINAI had cut through a climate space which could be considered as "crowded" by early-stage companies.

"I have no doubt they will make it to the next round of funding," she stated. (Reporting by Juliette Portala ; Editing by Carolyn Cohn and Jan Harvey)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 2.18% 25.8 Real-time Quote.-10.29%
SIEMENS AG -0.68% 132 Delayed Quote.-12.96%
TOSHIBA CORPORATION -1.11% 4361 Delayed Quote.-6.77%
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Analyst Recommendations on TOSHIBA CORPORATION
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Financials
Sales 2023 3 333 B 24 403 M 24 403 M
Net income 2023 181 B 1 326 M 1 326 M
Net Debt 2023 296 B 2 166 M 2 166 M
P/E ratio 2023 10,6x
Yield 2023 6,65%
Capitalization 1 887 B 13 814 M 13 814 M
EV / Sales 2023 0,65x
EV / Sales 2024 0,65x
Nbr of Employees 116 224
Free-Float 95,2%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 4 361,00 JPY
Average target price 4 886,43 JPY
Spread / Average Target 12,0%
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Managers and Directors
Taro Shimada President, Chief Executive Officer & Director
Masayoshi Hirata CFO, Head-Accounting & Finance Management
Keiichi Yumita Head-Information Systems
Yutaka Sata Head-Technology Planning, R&D Center
Hideaki Ito Head-Technology Planning, R&D Center
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