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News Release
Establishment of the Zhejiang University - Fuji Electric Innovation Center

February 3,2010
Fuji Electric Holdings Co., Ltd.

At the signing ceremony, Zhejiang University President Yang (front left) and FHC President Ito (front right)
At the signing ceremony,
Zhejiang University President Yang (front left)
and FHC President Ito (front right)

Fuji Electric Holdings Co., Ltd. (President and Representative Director: Haruo Ito; Headquarters: Shinagawa-ku, Tokyo; hereinafter referred to as “FHC”) announces that it reached an agreement with Zhejiang University in Hangzhou, Zhejiang Province, China, on February 3 to develop new business in China with the establishment of the Zhejiang University - Fuji Electric Innovation Center.
　The Fuji Electric Group and Zhejiang University had previously established the Zhejiang University and Fuji R&D Center in April 2006. Through industrial and academic collaboration between Japan and China, the Center promotes research and development in platform and applied technologies.
　The Zhejiang University - Fuji Electric Innovation Center will be based at Zhejiang University, and aims to collaborate on developing new products and creating new business in the Chinese market. By combining Zhejiang University's accumulated technological knowledge and academic personnel with Fuji Electric's business experience and technology, this Center will contribute towards the growth of social and industrial infrastructure in China.

1. Overview

(1) Objective: To develop new products and establish new businesses in the Chinese market
(2) Main activities: Developing new products and human resources, establishing new business, and researching new technologies
(3) Business areas: Smart grid systems, transportation, water environmental business, industrial IT solutions, and others
(4) Opening date: April 1, 2010
(5) Place: Zhejiang University, Hangzhou, Zhejiang Province, China
(6) Investment: The Fuji Electric Group will invest RMB 20 million (approximately 300 million yen) over four years.

2. Background

Zhejiang University entered a research and development project with Fuji Electric Systems Co., Ltd. (hereinafter referred to as “FES”), a wholly owned subsidiary of FHC, from 2004. The Zhejiang University and Fuji R&D Center was established on April 1, 2006. FES invested RMB ten million for R&D from 2006 to 2010, and promoted ten R&D projects in such fields as HV inverter technologies, power generation systems using biogas, and flue exhaust gas analyzers systems. Patents were granted to four projects, and three projects reached the prototype manufacturing stage. Additionally, the Center frequently held exchange programs between Fuji Electric Group companies in Japan and Zhejiang University.

3. Future efforts

The Zhejiang University - Fuji Electric Innovation Center will augment efforts and activities of the Zhejiang University and Fuji R&D Center. By taking advantage of Zhejiang University's accumulated technological knowledge and academic personnel and Fuji Electric’s technologies and business experience, the collaboration will expand the scope of R&D in such fields as energy, transportation and environmental conservation. In addition, the new Center will develop collaborative R&D for railways, electric vehicles and water environmental business including wastewater treatment. At the same time, it will cooperate in developing educational and human resources with FHC and Zhejiang University.