Fenox Venture Capital invests in Japanese online solar marketplace

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Greentech Lead Asia: Fenox Venture Capital has invested in I AND C-Cruise.Co (IACC), which operates “Green Energy Navi,” a leading online solar market place in Japan.

With the investment from Fenox, IACC plans to launch their North American operation this June.

Green-Energy Navi presents consumers with user reviews and cost estimates for convenient comparison and selection of solutions from multiple vendors. Additionally, consumers are given practical information such as best practices, government subsidies and tax incentives for using solar energy.

“IACC has great potential to expand into the United States and global market,” said Anis Uzzaman, general partner at Fenox Venture Capital. “The company can leverage upon its proven business model in Japan and excel internationally.”

As of February, IACC is the largest Japanese marketplace in this industry with more than 40,000 subscribers, and 400 manufacturers and service providers online. IACC has recorded yearly revenue exceeding USD 10 million and a growth rate of 500% year over year.

Japan is emerging as a leader in solar energy in Asia. Today, 300,000 Japanese households install alternative energy sources each year.

Japan to become the second largest PV market after China in 2013

Japan is expected to install over 5 GW of solar capacity overtaking Germany, Italy and the U.S for the first time. With this capacity, Japan will become the second largest PV market after China this year, says a new report from IMS Research, a part of IHS.

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