Japan Halts Support for Next-Generation Battery

Nov 20, 2024 | News On Japan

TOKYO - Japan' Minister of Economy, Trade, and Industry Muto announced on November 19th that the government has decided to cease its support for APB, a company pioneering the development of the world's first all-resin battery.

In 2022, the New Energy and Industrial Technology Development Organization (NEDO) allocated approximately 4.6 billion yen in subsidies for the project. However, APB has been grappling with financial troubles due to internal management turmoil. Earlier this month, the company’s main bank, the Hokuriku Bank Group, filed for corporate rehabilitation proceedings with the Tokyo District Court. The court is expected to soon decide whether to commence the process.

Source: テレ東BIZ

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