NGK INSULATORS, LTD. ("NGK") and Ricoh Company, Ltd. ("Ricoh") announced that they have started operations at NR-Power Lab Co., Ltd. ("NR-Power Lab"), the two companies' joint venture in the electric power business.

NR-Power Lab will provide services to promote the widespread adoption of renewable energy, which is essential to achieving carbon neutrality. These services will be provided by combining NGK's control technologies for storage batteries*, such as its proprietary large-capacity NAS batteries, and Ricoh's renewable energy distribution record platform*, which uses its proprietary digital technologies.

NR-Power Lab seeks to commercialize the following at an early stage:

• Virtual Power Plant (VPP) service

A VPP uses digital technology to perform integrated control of various energy resources, functioning like a power plant. These resources include electricity generated through renewable energy sources, electricity for charging and discharging storage batteries, and electricity consumed by facilities and homes. This service will comprehensively regulate the supply-demand balance of electricity, and contribute to the stable and efficient use of renewable energy since the amount of electricity generated from renewable energy varies with the weather and the seasons. Supplying balancing capacity to the energy balancing market—where power (balancing capacity) is traded to eliminate the supply-demand gap for electricity—will also be considered.

• Digital electricity services

New electricity services that offer higher added value will be provided by using digital technologies such as blockchain technology and electricity data obtained through IoT technology. Efforts will be made to achieve the decarbonization of communities and companies and to support their introduction of renewable energy. This will be done through the supply of solutions such as energy-efficient equipment, energy management, and the maintenance and operation of solar power generation facilities.

NGK and Ricoh have both joined RE100 and have been running a trial renewable energy tracking project since May 2022. Through new businesses that integrate both companies' existing technologies and expertise, the two companies will support the widespread adoption and introduction of renewable energy and contribute to realizing a sustainable society.

NR-Power Lab | https://www.nr-power-lab.jp/en

Ricoh Company | https://www.ricoh.com/