Daikin Industries, Ltd. has recently invested in OCSiAl S.A., a Luxembourg
startup company, by underwriting a capital increase through a third-party
allocation of shares.

OCSiAl is the world’s largest manufacturer of single wall carbon nanotubes and a
unicorn company whose valuation is circa 2 billion USD. Since 2018, Daikin Chemicals
division has been collaborating with OCSiAl to develop applications in the fluorochemical
business for lithium-ion battery materials as well as composite materials.

Single wall carbon nanotubes bring high expectations as additives to create new
materials with greater functionality by combining with existing industrial materials.
For example, by utilizing their high electric conductivity, single wall carbon nanotubes
can increase the electric capacity and power of lithium-ion batteries.

In its strategic management plan FUSION 25, Daikin looks to create new markets
with product development applications centering on fluorochemicals. Through joint
development with partner companies, such as customers and startups, Daikin aims
to strengthen its proposal capabilities to growth markets, such as semiconductor
manufacturing, automotive, Lithium ion battery, and information communications,
while creating new value. With this investment, Daikin will boost its cooperation with
OCSiAl and accelerate the development of new products, including Lithium ion
battery materials, together with the development of applications globally.

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