Confidential

Tsubame BHB Co., Ltd.

© 2024 Tsubame BHB Co., Ltd. all rights reserved.

 Confidential

Company Overview
 Established in April 2017 with investments from UMI, Ajinomoto, and Tokyo Institute of Technology.
 Deep tech startup aiming for the social implementation of a decentralized ammonia synthesis system.

Establishment Background Company Overview

Name Tsubame BHB Co., Ltd.

Professor Emeritus Hideo
Hosono’s Laboratory Shin Yokohama, Yokohama City,
(Tokyo Institute of Technology) Address
Kanagawa, Japan
Yokohama City, Kanagawa, Japan
R&D Center Tokyo Institute of Technology, Suzukakedai
Campus
Kawasaki
Ajinomoto Co., Inc., Kawasaki Plant
Branch
12CaO7Al2O3 Kawasaki City, Kanagawa, Japan
(Pilot Plant)
Electron
Electride Catalyst Established April 2017
 Developed innovative ammonia synthesis catalyst
technology • R&D, sales, and maintenance of
decentralized ammonia supply systems
 Paper published in Nature Chemistry Business • R&D, production, and sales of ammonia
Nature Chemistry. 2012, 4, 934-940 Activities synthesis catalyst
• Production and sales of ammonia and
ammonia related products

Employees About 60 people

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Progress of Funding
 C-2 ended February 2024
 Welcomed 18 major shareholders and raised fund totaling to JPY 7.6 billion, or US$ 52MM

New Investors after Total funds to date

Established Procurement of 7.6
April 2017
series B billion JPY
Series C1
（Julye 2022）

Hosono Series B1
Laboratory （October 2020）
Innovative catalyst for
Series C2
ammonia synthesys Series B2 （February 2024）
Nature Chem. 2012, 4, 934-940 （June 2021）

*Series A is an additional investment by Ajinomoto and UMI.

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Core Technology: Electride Catalyst

 The strong electron-donating capability of electride catalyst enables ammonia synthesis at lower
temperature and pressure than with existing Fe-based catalyst.
 Filed several patents or holds exclusive licenses related to catalyst and synthesis technologies.
Electride Catalyst Features Patent

(1) Catalysts are cage-shaped and (2) N2 and H2 are Application Name of Invention
contain a lot of electrons inside the separated to atom
cage. Patent Application Ammonia synthesis catalyst and ammonia synthesis
by catalyst. 2012-547860 method

Patent Application Production method for conductive mayenite compound

N N 2014-532935 powder

Patent Application Method for producing ammonia synthesis catalyst and

2018-533492 method for producing ammonia

N N Patent Application
2016-505140
Supported metal catalyst and ammonia synthesis method
using the catalyst

Patent Application Ammonia synthesis system and ammonia production

2019-191952 method

Pressure/temperature of ammonia synthesis reaction Patent Application Molded and sintered body and method of manufacturing
2020-30140 molded and sintered body
100
Method of producing metal acid hydrides, metal acid
Patent Application
Reaction pressure (MPa)

hydrides, and method of synthesizing ammonia using the

2021-530639
Fe-based metal oxyhydride

Catalyst Metal support containing oxides of typical elements,

Priority 2020-0226 catalyst for ammonia synthesis, and method for
20 synthesizing ammonia
Good catalytic activity
Patent Application Acid nitrogen hydride, metal support containing acid
5 Electride at low temperature
2022-503284 nitrogen hydride, and catalyst for ammonia synthesis
and low pressure
Catalyst
300 400 500 600
Reaction temperature (C)
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Introduction of our models


 We
Ourwill cover full
business rangeof
consists ofsmall,
ammonia capacity
medium, andfrom
largesmall to large
ammonia scale. systems
production

 Currently,
The revenue3 capacities of module
model is broadly are launched
divided in the
into module market
system sales and basic design sales.
 Medium-scale plant is about to go live in the market

2021- 2025- 2030-

Small-scale (Module system) Medium-scale (Plant) Large-scale (Plant)

(image: Tsubame BHB module 3,000TPA) (image) (Photo: BASF/ Schmalow)

• 500 MT per year

Capacity

• 10,000 to 50,000 MT per • 500,000 MT per year or

• 3,000 MT per year
year above
• 5,000 MT per year

• Design and supply • Design and supply or PDP • PDP

Scope

• License sales • License sales • License sales

• Catalyst sales • Catalyst sales • Catalyst sales

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Progress of business development

 2 projects in Japan has already entered into EPC phase
 We are under discussion with potential customers from various countries

Type: 500MT Module

Use: Confidential
Type: 5,000MT Module Status: EPC*
Use: Carbon-free Fuel
Status: FS

Type: 5,000MT Module

Use: Fertilizer
Status: FEED
Type: 500MT Module
Use: Blue Ammonia
Status: EPC*

Type: 5,000MT Module

Use: Fertilizer
Status: FEED

* Our scope of work does not include construction, but only engineering and procurement © 2024 Tsubame BHB Co., Ltd. all rights reserved. 5