NSK Strengthens Collaboration with Chitose Group
NSK Ltd. has been collaborating with Chitose Group, a group of leading biotechnology companies in the global bioeconomy to undertake business creation activities focused on biomass recycling. This spring, the two companies have achieved a certain level of success, including the sale of a compost production plant developed by both companies, and having paved the way for commercialization, they have decided to strengthen their cooperation for future expansion of this business and co-creation of new businesses.
As specific measures to strengthen the collaboration, NSK invested 500 million yen in Chitose Bio Evolution PTE. LTD., the headquarters of Chitose Group, and signed a business alliance agreement with Chitose Laboratory Corp., a core company of the Chitose Group, for the purpose of expanding biomass recycling business and co-creating new businesses.
"The bioeconomy is poised for substantial growth across various sectors such as food, environment, and medical/health care, promising significant expansion in the coming years. Strengthening our collaboration with Chitose Group, renowned for its wealth of knowledge and expertise in this field, will enable us to diversify our business reach and play a pivotal role in driving the realization of a circular society through our advanced tribology and manufacturing technologies," said Akitoshi Ichii, NSK.
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