FPS Inc. Signs Virtual PPA Agreement with Konica Minolta

FPS Inc. (hereinafter, FPS) has entered into a virtual PPA agreement with Konica Minolta, Inc. (hereinafter, "Konica Minolta"), and has commenced the provision of environmental value from solar power generation-derived renewable energy.

This agreement will provide Konica Minolta with the environmental value (non-FIT non-fossil certificates) of electricity generated at power plants over the long term through a virtual PPA scheme, covering an estimated annual environmental value equivalent to approximately 1,000,000 kWh. This will enable Konica Minolta to reduce its Scope 2 greenhouse gas emissions and expand its use of renewable energy.

Under this virtual PPA, FPS, as a specified wholesale supplier, will aggregate and provide Konica Minolta with only the environmental value associated with the surplus electricity generated at solar power plants, excluding the portion consumed in-house at the facilities. This allows Konica Minolta to additionally secure environmental value derived from renewable energy without altering its existing electricity procurement contracts.

A virtual PPA is a mechanism that allows for the long-term and stable procurement of environmental value derived from renewable energy without the physical transfer of electricity. It is gaining attention as a method for companies to flexibly introduce renewable energy. In recent years, as corporate efforts towards RE100 compliance and carbon neutrality accelerate, virtual PPAs are positioned as one of the important means to achieve these goals.

Through this initiative, FPS will support Konica Minolta's decarbonization management and contribute to the realization of a sustainable society by providing the value of renewable energy, including virtual PPAs, to more companies.

Overview of FPS Inc.

Representative:

Yosuke Horai, Representative Director

Established:

November 19, 2021

Location:

1-8-1 Akasaka, Minato-ku, Tokyo

Business Activities:

Electricity trading and brokerage, power generation and supply, steam, hot water, and other thermal energy supply, and power transmission and distribution, etc.

URL:

https://fps-inc.jp/

FPS Inc. operates a retail electricity business within the GLP Group, a major player in logistics real estate. The company offers flexible solutions tailored to customers' electricity usage and challenges, including market-linked electricity plans, fully fixed-rate plans, and hybrid plans combining both. Through its unique electricity trading scheme connecting power producers and consumers, FPS proposes flexible contract models that meet the energy strategies and decarbonization needs of individual companies, utilizing diverse methods such as physical and virtual PPAs. The company was established in 2022, inheriting the business foundation of the major new power company, F-Power Inc.

Overview of Konica Minolta, Inc.

Representative:

Toshiaki Saito, Representative Executive Officer, President and CEO

Established:

December 22, 1936

Location:

2-7-2 Marunouchi, Chiyoda-ku, Tokyo

Business Activities:

Digital Workplace Business, Professional Print Business, Industry Business, Imaging Solutions Business

URL:

https://www.konicaminolta.com/jp-ja/index.html

Konica Minolta, Inc., building on its core technologies of "imaging," "materials," "microfabrication," and "optics" cultivated over more than 150 years since its founding in the camera and film business, develops four business segments: Industry Business, Professional Print Business, Digital Workplace Business, and Imaging Solutions Business. Under its management philosophy of "Creating New Value," the company promotes sustainability management, with environmental management as a pillar, by balancing efforts to reduce environmental impact across all business processes with corporate growth, thereby creating new social and economic value.

[Contact Information for FPS Inc. Regarding This Matter]

TEL: 03-5544-8671 FAX: 03-4363-6440

E-Mail: inquiry4@fps-inc.jp