Fundraising of 2.15 billion yen for Elephant Tech, which develops innovative manufacturing technology that significantly reduces energy consumption! Cumulative total of 7 billion yen raised

About Elephant Tech's Business

With the mission of "creating a sustainable world through the power of new manufacturing," Elephant Tech has been working since its establishment in 2014 toward the practical application and diffusion of electronic circuit manufacturing technology using inkjet printing, which can reduce CO2 emissions by 771 TP3T and water consumption by 951 TP3T compared to existing manufacturing methods. Since its establishment in 2014, the company has been working on the development of inkjet printing technology for electronic circuit manufacturing.
After 6 years of basic research, we succeeded in mass production in 2020 and have since been adopted for mass production in the market. Since then, our technology has been adopted for mass production in the market.

Our goal with this fundraising

Through this funding, we aim to achieve the following two goals

1. Full-scale global expansion
2. Expanding applications through further research and development

So far, the company has succeeded in achieving the milestone set at the time of the previous fundraising, "operation of a large-scale mass-production demonstration base," and P-Flex® flexible printed circuit boards manufactured by ELEPHANTECH using inkjet printing have been adopted in mass production and installed in electronic devices distributed to the general public, such as displays and sensors.
The achievement of scaling up from the lab level to the mass production level and the adoption for mass production in general electronic devices, both of which are generally very difficult business milestones, is considered to be a major step toward the future we are aiming for.

Now that we have succeeded in mass production, our challenge is how to achieve global standard status in the fastest possible time, and we believe that the two aforementioned points are the keys to achieving this goal.

Regarding the former, our products do not require localization and can be used as-is anywhere in the world, and we are already planning production that will mainly be shipped overseas rather than domestically at present. Therefore, the globalization of our business is progressing. However, Elephant Tech's mass production base in Nagoya is currently the only base in the world capable of manufacturing this product, and our company's structure still has challenges to overcome in order to achieve full-scale global expansion.

Printed circuit board (PCB) manufacturing is a US$100+ billion market, but it is also an industry with a very high environmental impact and extremely high supply chain dependency risk. We believe that Elephant Tech's technology is the only solution in the world that can contribute to solving these challenges, which are becoming more significant than ever before.

In the future, we will be fully engaged in global expansion to achieve discontinuous growth as a special solution for areas where such issues are pressing problems.

Regarding the latter, we are currently mass-producing only single-sided flexible substrates among the many types of printed circuit boards. In principle, our technology can be applied to almost all types of printed circuit board production, and we intend to expand our product lineup through further research and development.

In addition to traditional needs such as double-sided, multilayer, miniaturization, and rigid printing, we believe that new needs will expand in the future, such as printing on biomass substrates and the use of recyclable materials.

Mr. Shimizu, President and Representative Director of Elephant Tech, stated the following

Almost nine years have passed since our company was founded in January 2014, and our mission has consistently been to create a sustainable world through resource- and energy-efficient manufacturing technologies. However, nine years is not a short period of time, and there have been long periods of time when it was difficult to see what the future would bring, such as when we would be able to mass-produce our products technologically, and when the market would come to value sustainability. I am proud of our team, which has persevered and continued to move forward, and has succeeded in mass-producing the product technically, and has advanced the business to this moment, when the market needs for sustainability are emerging at a more rapid angle than expected. I am also very grateful to all of our stakeholders who have supported us in this endeavor.
From here, we will finally make our manufacturing method the global standard. And by doing so, we will solve the world's sustainability issues. Toward this end, we are very pleased to welcome new investors who will walk with us, and we will make every effort to solve the world's problems in the fastest possible time.

Mr. Samejima of ANRI Corporation stated the following

We are very pleased to join Elephantec as a new shareholder. Our inkjet printing technology for electronic circuit manufacturing is an innovative technology that significantly reduces CO2 emissions and water consumption compared to existing methods. While we were considering the investment, we received inquiries from several major companies, and we realized firsthand that the market is going to change dramatically in the future. The goal of Mr. Shimizu and the rest of the management team is to become a company with a market capitalization of 1 trillion yen, and we would like to achieve that goal. I am confident that our company will take on the future of Japan and become a company that represents Japan, and I will do my utmost to support them.

Mr. Onishi, General Manager of the President's Office, Shin-Etsu Chemical Co.

Elephant Tech's metal inkjet printing technology contributes to the realization of a sustainable society by making it possible to manufacture electronic circuit boards in a resource- and energy-efficient manner. In addition to its technological capabilities, we are confident that the company's speed and the leadership of President Shimizu will enable it to further strengthen its presence in the future.
In addition, the company's technology has a wide range of applications and I believe there is great room for growth. As a chemical and materials manufacturer, I am delighted to have the opportunity to be involved in this new type of manufacturing."

Third-party allotment subscribers

ANRI No.5 Investment Limited Partnership
Shin-Etsu Chemical Co.
Nose Co.
Nose Investment LLC
Shizuoka Capital Co.
Shizuoka Capital No. 9 Investment Limited Partnership
Eiwa Corporation
Nanobank Corporation
Kenryo Sake Brewery Co.
Mitsubishi Gas Chemical Company, Inc.
D&I Investment Co.
Nantes CVC No.2 Investment Limited Partnership
Nantes CVC No.3 Akebono Investment Limited Partnership
Gunma Regional Co-Creation Investment Limited Partnership
SuMi TRUST Innovation Investment Limited Partnership