Nippon Denko Co., Ltd. (the “Company” or “we”) hereby announces that we have agreed to invest \0.2 billion in Galdieria, Co., Ltd. (“Galdieria”), which aims to achieve sustainable resource recycling using microalgae, and to promote a business alliance.

Galdieria is a start-up company that focuses on the recovery of precious metals in　urban mines and factory wastewater by making the most of the ability of microalgae (Galdieria sulphuraria) to adsorb precious metals. Galdieria sulphuraria is a red alga that is mainly found in hot springs, and it is expected to be applied to various fields such as the recovery of precious metals, environmental purification, food, and pharmaceuticals because it has an excellent ability to adsorb precious metals and high nutritional value.

The Galdieria sulphuraria-derived adsorbent developed by Galdieria can efficiently recover gold, palladium, and other platinum group metals in urban mines and factory wastewater even from low-concentration solutions and those that are difficult to treat, from which it was challenging to recover precious metals using conventional technology. In addition, since it is derived from natural sources, it has the advantage of having a lower environmental impact than existing adsorbents.

In our growth strategy formulated in the Medium/Long-Term Business Plan, the Company has identified a circular economy as one of the growth areas, and through investments in venture capital funds, we have been exploring new business opportunities involving collaboration with start-up companies that possess cutting-edge technologies. This investment in Galdieria is our first investment in a start-up company.

The Company will continue to provide new solutions that can recover precious metals which cannot be recovered with existing technologies, by leveraging the sales base and expertise in water treatment equipment and precious metal recovery processes that our Aqua Solutions business has cultivated in the water treatment business and by combining them with the precious metal adsorbent developed by Galdieria. Through this business alliance, the Company aims to launch a business as soon as possible, contribute to the circular economy, and enhance our corporate value.

Overview of the Investment

This investment will be conducted by acquiring J-KISS-type stock acquisition rights*.

• Name of stock acquisition rights: J-KISS-type stock acquisition rights
• Amount to be paid in: \0.2 billion
• Payment date: February 28, 2025

*J-KISS-type stock acquisition rights are a moving strike warrant in which the number of shares that can be acquired upon conversion is not determined when investors acquire stock acquisition rights for a fee. When raising funds by issuing shares in subsequent investment rounds, investors who have acquired the stock acquisition rights will acquire shares at a conversion price discounted to a certain degree.

About Galdieria

• Company Name: Galdieria, Co., Ltd.
• Representative: Tadashi Tanimoto, Representative Director
• Location: 2-4-2-709 Nihonbashi Hamacho, Chuo-ku, Tokyo
• Date of Establishment: October 1, 2015
• Business: Production, R＆D of microalgae such as sulfuric acid hot spring red alga “Galdieria sulphuraria”
  Development of precious metal recovery technology using Galdieria sulphuraria, production of adsorbents, and R&D on application to cosmetics and foods
• URL　：https://galdieria.com/