HEXA Energy Services and Furusato Netsuden Sign Memorandum of Understanding to Explore Investment in Geothermal Power Projects in Japan

Tokyo, Japan – July 30, 2026 –

HEXA Energy Services G.K. (Head Office: Chiyoda-ku, Tokyo; Managing Officers: Yuko Shah and Yoichiro Mizuta; "HEXA") and Furusato Netsuden Co., Ltd. (President and Representative Director: Kazuyuki Akaishi; "Furusato Netsuden") are pleased to announce that they have signed a Memorandum of Understanding (the "MoU") to explore a potential investment by HEXA in geothermal power projects developed and operated by Furusato Netsuden in Kumamoto Prefecture, Japan.

Under the MoU, the parties will conduct due diligence on projects maintained and operated and those to be developed by Furusato Netsuden , and will evaluate potential investment opportunities. Through these discussions, the parties aim to establish a long-term partnership to support the further growth and expansion of geothermal power in Japan.

HEXA CEO Comment

"We are very pleased to announce this collaboration with Furusato Netsuden Co., Ltd. Furusato Netsuden achieved the commencement of commercial operation of a geothermal power plant of 1,000 kW or more in 2015, the first such achievement in Japan in 16 years, and has continued to pursue advanced initiatives in coexistence with local communities. We believe it is one of Japan’s leading innovative geothermal power developers.

In Japan’s energy transition, where the outlook remains uncertain, we are confident that advancing projects by combining the respective strengths of Furusato Netsuden and HEXA will serve as a new model case toward the realization of a decarbonized society."

Outlook

By combining HEXA’s experience and capabilities in renewable energy businesses, development, financing, asset management, PPA structuring, and aggregation with Furusato Netsuden’s expertise in geothermal project development and operation with, the two companies aim to accelerate investment in geothermal power and contribute to Japan’s energy transition. Through this initiative, the parties will also promote the sustainable and responsible development of geothermal resources in coexistence with local communities, and seek to create long-term value.