NGK INSULATORS, LTD. and Ricoh Company, Ltd. announced today that they have concluded a memorandum of understanding on the establishment of a joint venture company for the purpose of research and development aimed at the commercialization of a Virtual Power Plant (VPP) business and digital electricity services.
Ena City (Gifu Prefecture; Mayor: Takane Kosaka), NGK INSULATORS, LTD. (hereinafter “NGK”), Ricoh Company, Ltd. (hereinafter “Ricoh”), and IHI Corporation (hereinafter “IHI”) will start a trial project in October 2022 for a decarbonization and economic circulation system.