Marubeni America Creates Strategic Partnership with B2U Storage Solution

In this month’s newsletter, we are excited to feature Marubeni Corporation. Marubeni is a Japanese trading and investment company that uses its broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading). Marubeni is a leader in the energy market and is known for its innovative solutions to developing a safe and stable power supply through sustainable generation.

In September 2021, Marubeni partnered with B2U Storage Solutionss, Inc. This partnership includes a collaboration agreement between the two companies and an investment by Marubeni into B2U. B2U develops battery energy storage systems and sells stored electricity into power markets when it is needed most. This innovative energy storage system uses second life EV batteries to achieve cost savings.

In April 2020, B2U’s first storage deployment using repurposed EV batteries became operational in Lancaster, California. At this site, B2U has configured over 4MWh (250 EV Battery Packs) to charge and discharge efficiently while accounting for state of health variance.

The Mintz Energy & Sustainability and Venture Capital teams advised Marubeni throughout the transaction. Mintz has a long-term relationship with Marubeni and deeply understands its business imperatives. The Mintz team that advised Marubeni on this transaction was led by Members Stephen Osborn and Eric Macaux and included Ayaz Shaikh, Robert Kidwell, Fred Hernandez, and Antony Nash, as well as Special Counsel Tali Tuchin and Associates Jessica Zhang, Mo Tashakor, and John Thomas.

Minako Wakayama, President and CEO of Marubeni Power International, stated of the transaction, “Marubeni is proud to complete a partnership with and investment in B2U, one of the fastest growing U.S. energy storage designers and developers utilizing second life batteries. B2U represents a unique strategic intersection of all faucets of the clean energy transition. This includes the enabling of more renewable energy, meeting clean energy and decarbonization goals, and leveraging electric vehicle adoption by recycling vehicle second life batteries; all while supplying reliable low-cost power to customers. We appreciate and value Mintz’s advice and guidance navigating this transaction by working closely with many Mintz attorneys who provided expertise in various capacities including structuring, IP/licensing, and due diligence.”