Strategic capital and business alliance with UON Pty Limited, an Australian integrated decarbonization energy solutions provider

December 12, 2023

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President and COO; hereinafter "ITOCHU") announced today that ITOCHU and UON Pty Limited (headquartered in Malaga, Western Australia, Australia; Executive Chair: Mark Keogh; hereinafter "UON") have concluded a capital and business alliance agreement under which ITOCHU will become a strategic minority shareholder in UON. The agreement is subject to customary regulatory approvals.

Since 1998, UON has supplied integrated energy and water solutions to industrial and mining clients in remote and off-grid regions of Australia.
By providing a vertically integrated range of services, from in-house design and manufacturing to construction, monitoring, maintenance and servicing, UON builds optimal solutions for a variety of customer needs. UON is committed to developing Energy for Every Future and has continued to grow through its delivery of innovative energy solutions, recognising the demand for expanding its capabilities in the energy storage sector. Traditionally focused on the remote mining and resources sectors, new technologies will enable UON to expand its business into construction, agriculture and other industries, supporting residential power, mobility charging and power grid reinforcement activities.

ITOCHU has been promoting businesses in decentralised renewable energy, household and industrial storage batteries, renewable energy power plants such as solar, biomass and wind power, and grid storage in Japan, Europe and the US. By having off-grid power solution capabilities through the capital and business alliance with UON, ITOCHU will capture new demand for off-grid and microgrid solutions, namely the deployment of decarbonisation solutions in agriculture, construction and remote areas, and promote local production for local consumption of electricity with further effective use of renewable energy and energy storage.
Australia, with its vast land area, has a limited electricity grid network to service many remote regions. The prevailing practice is to build electricity grids by community and industry, rather than increasing the number of electricity transmission and distribution networks. Until now, power generation has mainly been fuel-based, but through this alliance, ITOCHU and UON will jointly promote and develop low-carbon, robust and advanced off-grid and micro-grid energy projects.

ITOCHU and UON will play a leading role in accelerating the energy transition through a combination of innovative solutions and technologies. This collaboration will contribute to the further introduction and stable supply of renewable energy.

UON is currently owned by founder and Executive Chair Mark Keogh and Macquarie Group.

QUOTE from Mark Keogh (UON Founder and Executive Chairman)
“For more than 20 years we have been continually innovating and improving SMART ENERGY SOLUTIONS to support our clients. Through smarter and more reliable on and off-grid energy and water management solutions, we are assisting our clients with this energy transition. UON and its SMART energy road map for all energy applications, is helping integrate renewable and decarbonising technologies, and ultimately delivering operational and capital savings. With ITOCHU, UON will expand its delivery of SMART solutions to support clients in their decarbonisation journeys and reduce operational costs.”

QUOTE From Hiroaki Murase (General Manager, Sustainable Energy Business Department)
“ITOCHU has been involved in the lithium-ion battery business for more than 25 years. Energy Storage will play a critical role in maximising renewable energy usage and will further the advancement of various application/sectors such as electrified mobility. Through this partnership with UON, not only supporting the Energy Storage supply chain, but we will also promote UON solutions to expand their customer base using our global network.”

■UON Pty Limited

Headquarters Location 407 Victoria Rd, Malaga WA 6090
Establishment 1998
Business Integrated energy provider

Renewable Solution for Mine site

Fast Charging solution for Transportation