Scibreak

February 2023

BUYER

Mitsubishi Electric Corporation is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric Corporation is listed on Tokyo Stock Exchange (TSE: 6503) and recorded revenues of JPY 4,476.7 billion in the fiscal year ended March 31, 2022.

TARGET

Scibreak AB is a Swedish research company developing direct current circuit breakers (DCCBs) and has the market leading DCCB technology, in terms of operation time and footprint. Through the acquisition of shares, Mitsubishi Electric will utilise Scibreak's technology and know-how to lead the market commercialisation of DCCBs, strengthening its global HVDC system business and contributing to the realisation of carbon neutrality through the further spread of renewable energy.

SELLER

Scibreak's Founders, Key employees and EIT InnoEnergy, an accelerator specialised in sustainable energy with various entry points across Europe.

TRANSACTION

A structured auction process towards limited number of industrial buyers.