Rhinoflux Inc. has successfully secured JPY 200 million (USD 1.4 million) in a seed round through a third-party allocation of new shares with Kyoto University Innovation Capital Co., Ltd., Beyond Next Ventures Inc., and Shimadzu Corporation's CVC fund managed by Global Brain Corporation. In addition, the company was selected as a grant recipient by the Ministry of the Environment, Kyoto Industrial 21 Foundation, and Kyoto University. The total amount of funds initially secured is JPY 280 million (USD 2 million). The capital will be deployed to advance the construction of a small-scale demonstration plant and to expand the company’s workforce.About RhinofluxRhinoflux is an energy startup company founded based on the research progress of Dr. Ryuichi Ashida, a lecturer at the Department of Chemical Engineering, Graduate School of Engineering, Kyoto University. The company has developed an innovative technology, Hydro Chemical Looping, which enables the recovery of large amounts of electrical energy and highly purified CO2 from biomass resources through precisely controlled chemical reactions. The demand for affordable and clean electricity is growing rapidly in line with the development of decarbonization and technologies such as AI. The planet has billions of tons of biomass resources, which are poised to become a significant renewable energy source. However, compared to other carbon resources such as coal, petroleum and natural gas, biomass has a lower calorific value and is expensive to use as energy, which has resulted in most of it being underutilized.Rhinoflux’s novel technology provides an efficient and cost-effective solution for recovering electrical energy from biomass resources that were previously unutilizable. Furthermore, as a byproduct, CO2 absorbed from the atmosphere by biomass can be directly captured with a purity of 99.9% or higher, thereby contributing to the reduction of CO2 in the atmosphere through storage and utilization.Our mission, "unlocking the value of vast resources by science," guides our development of bioenergy with carbon capture plants that can supply renewable energy on a large scale and reduce CO2 emissions.Use of CapitalRhinoflux will construct a small-scale demonstration plant in its laboratory to showcase the company’s proprietary technology for power generation and CO2 capture. The detailed design has already been completed, and fabrication is underway with an anticipated completion date of December 2024. The planned input biomass resources include wood, agricultural residues, raw material processing residues, and liquor and beverage processing residues. Moreover, the company will proactively seek to expand its workforce in order to reinforce its R&D and business development capabilities. The company anticipates that commercialization will commence in 2028.Comments from the Company's Representative and InvestorsAtsushi Alex Mazawa, Co-founder & CEO, Rhinoflux Inc.Our company was founded with the explicit objective of developing a world-class business. In addition to our reliable team members, we are pleased to announce the participation of top-tier investors in Japan in this fundraising initiative. Our mission—unlocking the value of vast resources by science—is ambitious, but we are confident that we can achieve it. We will proactively and respectfully promote our business in collaboration with numerous partners dedicated to solving global energy issues and realizing a decarbonized society.Dr. Nobuhiro Yagi, Executive Officer, Kyoto University Innovation Capital Co., Ltd.Mr. Masahiro Shinohara, Manager, Investment Department, Kyoto University Innovation Capital Co., Ltd. & Independent Director, Rhinoflux Inc.It has been two and a half years since we first made the acquaintance of Mr. Mazawa, and one and a half years since he joined Kyoto-iCAP as an Entrepreneur in Residence. We are delighted to be supporting the launch of Rhinoflux. We made an investment in the company because we were drawn to their vision, their core technology which has the potential to create both economic and environmental value, and the management team which is focused on achieving a global impact from Japan. We will continue to support their growth and believe that Rhinoflux will play an essential role in the sustainable future of our planet.Mr. Akito Arima, Partner, Beyond Next Ventures Inc.Mr. Hiroyuki Kageyama, Beyond Next Ventures Inc.Rhinoflux aims to transform the abundant waste biomass surrounding us into valuable resources, and we are confident that they will become a key player in realizing a decarbonized society. Their technology, based on solid scientific insights, dramatically overturns common understanding of biomass power generation and promises overwhelming advantages. With an exceptional management team led by Atsushi and composed of top talents, we firmly believe that Rhinoflux will undoubtedly soar to become a world-class energy company. We are committed to providing robust support to help realize their mission.Mr. Masatoshi Takahashi, General ManagerFuture Strategy Department, Technology Research Laboratory, Shimadzu CorporationWe expect that Rhinoflux will develop innovative technologies that can solve the challenges of conventional biomass power generation and contribute to the realization of carbon neutrality. We are also attracted to a management team, which can strongly promote not only research and development but also business development. Shimadzu will support their R & D and business development through analytical measurement technology so that Rhinoflux can implement its technology into society.Mr. Jiro Kumakura, General Partner, Global Brain CorporationWe have made the decision to invest in Rhinoflux due to our confidence in the company's future prospects. Rhinoflux, leveraging Kyoto University's outstanding reaction engineering technology, will develop bioenergy with carbon capture plants with its exceptional management team and contribute to a carbon-neutral society. Through this investment, we will provide comprehensive support to Rhinoflux to facilitate its business growth.CareersRhinoflux is actively seeking candidates with a background in science, engineering, business, or other relevant fields who are willing to make a difference in the world. For more details, please refer to our career page and submit your application.Company ProfileCompany Name : Rhinoflux Inc. Representative : Atsushi Mazawa, Co-founder & CEOHeadquarters : West 104, International Science Innovation Building, Kyoto University, 36-1 Yoshida Honmachi, Sakyo-ku, Kyoto 606-8501, JapanLaboratory : South 2214, Kyodai Katsura Venture Plaza, 1-39 Goryo Ohara, Nishikyo-ku, Kyoto 615-8245, JapanFounding Date : April 22, 2024Business Details : Design, manufacture, sales, management and operation of bioenergy with carbon capture plantsContact : info@rhinoflux.com