Sunseap expanding in Japan with new investors in latest Series E funding round

SUNSEAP Group announced on Wednesday that it is set to expand its business in Japan on the back of investments from three Japanese corporations in its latest Series E funding round.

The proceeds will be used by Sunseap to invest in projects in Japan at a time when the country has pledged to achieve carbon neutrality by 2050, Sunseap said.

The new investors are global trading and business investment company Sumitomo Corporation, regional power company Shikoku Electric Power Company and financial services company Sumitomo Mitsui Finance and Leasing Company (SMFL).

SMFL is a joint venture between Sumitomo Mitsui Financial Group and Sumitomo Corporation.

This marks the first time that Japanese corporations are investing in Sunseap, and the partnership will allow Sunseap to "introduce a slate of clean technology and business solutions to the Japanese market".

Co-founder and president of Sunseap Group Lawrence Wu said: "These investments will certainly strengthen Sunseap's capacity to expand its business in Singapore and in the region."

Sunseap Group is a solar-energy system developer, operator and owner in Singapore, and has completed projects on more than 1,500 buildings in the city-state, including public housing estates, and commercial and industrial buildings.