Musashi Energy Solutions
Musashi Energy Solutions is a Japanese manufacturer of hybrid supercapacitors (HSC/LIC) under the ULTIMO brand, built on proprietary lithium pre-doping technology. It sells cells, modules, and the ESS400 stationary storage system to OEMs and integrators serving AI data centers, electric mobility, industrial manufacturing, and renewable energy markets.
- Company typePrivate
- Founded2007
- HeadquartersHokuto, Japan
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Musashi Energy Solutions does
Musashi Energy Solutions Co., Ltd. is a Japan-based pioneer and mass manufacturer of hybrid supercapacitors (HSC), also marketed as lithium-ion capacitors (LIC), sold under the ULTIMO brand. The company's core technology combines an electric double-layer capacitor (EDLC)-type positive electrode using activated carbon with a lithium-ion battery (LIB)-type negative electrode of lithium-intercalating carbon, enabled by proprietary lithium pre-doping technology that pre-loads the negative electrode with lithium ions during cell assembly. This architecture positions HSC between EDLCs (high power, long life, safety) and LIBs (high energy density), offering 1 million+ charge/discharge cycles, 15-20 year design life, -30°C to +70°C operating range, and absence of thermal runaway at the cell level because the positive electrode contains no oxygen-releasing metal oxides. Musashi produces prismatic can-type cells (4100F, 3300F, 2300F), connected modules including high-voltage modules supporting up to 1450V, and the ESS400 packaged stationary energy storage system certified to UL1973.
The company generates revenue primarily through hardware sales of HSC cells and modules to OEM manufacturers and system integrators across four primary segments: data centers and AI infrastructure (UPS backup, peak shaving), electric mobility and transportation (fuel cell vehicles, forklifts, railway wayside ESS, construction equipment), industrial manufacturing and healthcare (semiconductor fab voltage-sag compensation, AGV/AMR power, medical backup), and renewable energy/grid stabilization. Beyond direct sales, Musashi pursues a distribution strategy leveraging strategic channel partnerships with Mitsubishi Electric (railway modules, May 2024) and Flex (AI data center CESS, August 2024) that embed Musashi's cells inside partner-branded global products. The firm was founded in 2007 as JM Energy Corporation, began mass production in 2008, and was renamed Musashi Energy Solutions in November 2020 following Musashi Seimitsu Industry's acquisition of an 80% stake from JSR Corporation in April 2020; the remaining 20% was acquired in April 2024, making Musashi Energy Solutions a wholly-owned subsidiary. The company's headquarters and primary manufacturing are in Hokuto City, Yamanashi Prefecture, Japan, with a North American subsidiary in Troy, Michigan and a new 5 million-cell/year factory under construction in Minami-Alps City, scheduled to begin operations in September 2026.
Musashi Energy Solutions firmographics
Firmographics- Name
- Musashi Energy Solutions
- Legal name
- Musashi Energy Solutions Co., Ltd.
- Website
- https://musashi-es.co.jp
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Musashi Energy Solutions is a Japanese manufacturer of hybrid supercapacitors (HSC/LIC) under the ULTIMO brand, built on proprietary lithium pre-doping technology. It sells cells, modules, and the ESS400 stationary storage system to OEMs and integrators serving AI data centers, electric mobility, industrial manufacturing, and renewable energy markets.
- Ownership category
- akta.pro rank
Musashi Energy Solutions industry classification
Industry- Product category
- Energy Storage Systems
- NAICS
- Battery Manufacturing (33591)
- SIC
- Electronic & Other Electrical Equipment (No Computer Equip) (3600)
- akta.pro primary industry
- Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB)
Keywords
Where Musashi Energy Solutions is headquartered
LocationHeadquarters
- HQ city
- Hokuto
- HQ country
- Japan
- HQ region
- Asia
Offices3 records
Markets served
Musashi Energy Solutions business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Infrastructure, Technology or R&D
Revenue model
- HSC Cell Sales: Sale of individual hybrid supercapacitor cells (prismatic can type and laminate type), which are the core product line. Cells are sold directly to OEM manufacturers and system integrators for integration into end-user applications.
- HSC Module & System Sales: Sale of connected-module solutions (low-voltage and high-voltage modules) and the ESS400 packaged energy storage system. Modules connect multiple cells in series/parallel configurations for higher voltage and capacity requirements in industrial applications.
- Next-Generation Device Licensing to Partners: Development and supply of next-generation storage devices to Mitsubishi Electric for railway applications. Musashi designs and manufactures the storage device; Mitsubishi Electric designs, manufactures, and distributes the module and sells to the railway industry globally.
Go-to-market motion1 record
Distribution channels6 records
Marketing channels6 records
Musashi Energy Solutions product offering
Product offeringCore offering
Musashi Energy Solutions develops, manufactures, and sells hybrid supercapacitor (HSC) / lithium-ion capacitor (LIC) cells, modules, and packaged energy storage systems under the ULTIMO brand. The company's core products are prismatic can-type HSC cells (available in 4100F, 3300F, and 2300F capacities), high-voltage modules up to 1450V, and the ESS400 stationary energy storage system. These products serve industrial OEMs, data center operators, railway operators, and mobility equipment manufacturers.
Product overview
Musashi Energy Solutions is a pioneering manufacturer of Hybrid Supercapacitors (HSC), also known as Lithium-Ion Capacitors (LIC), under the ULTIMO brand. The product portfolio centers on prismatic can-type cells (4100F, 3300F, 2300F) and matching modules including high-voltage modules supporting up to 1450V, with laminate-type cells also available. The company also offers the ESS400 stationary energy storage system. A next-generation energy storage device is under joint development with Mitsubishi Electric for railway applications. All products share core hybrid supercapacitor technology combining EDLC cathode with lithium-ion battery anode materials, enabling high power output, long life (up to 20 years/1 million+ cycles), and superior safety characteristics.
Differentiator
Problem solved
Functional benefit
Products and services
- ULTIMO Prismatic Can-type HSC Cells (角形セル) Prismatic can-type hybrid supercapacitor cells available in 4100F, 3300F, and 2300F capacities. World-first flat prismatic design with high thermal dissipation and space-efficient packing. Sold as standalone cells for OEM integration.
- ULTIMO Can-type Cell Modules (角形セルモジュール) Modules combining multiple prismatic can-type HSC cells for various voltage and capacity requirements. Used in backup power, peak assist, and energy recovery applications.
- ULTIMO High Voltage Module (高電圧モジュール) Multi-cell modules designed for high-voltage applications, supporting up to 1450V for backup power and cycle-use applications.
- ESS400 Energy Storage System Stationary energy storage system incorporating hybrid supercapacitor cells, designed for data center, AI computing, and medical power backup applications. Up to 20-year lifespan, millions of charge/discharge cycles, UL1973 certified for stationary energy storage safety.
Quantifiable outcome
- Up to 50% energy savings in material handling equipment through regenerative braking energy recovery
- +7 more outcomes
Companies that use Musashi Energy Solutions
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Musashi Energy Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Musashi Energy Solutions partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Flex (Flex Ltd.)coreStrategic partnership announced August 2024 between Musashi and Flex (NASDAQ-listed, Texas, USA). Flex will incorporate Musashi's HSC into a Capacitor-based Energy Storage System (CESS) for AI data centers, targeting hyperscale operators. Flex plans to begin CESS production in H1 2025, with commercial availability within one quarter of production start.
- Tokyo Electric Power Grid CorporationminorTokyo Electric Power Grid (東京電力パワーグリッド) participated in the groundbreaking ceremony for Musashi's Minami-Alps factory in March 2025, signaling a relationship as a key stakeholder in Musashi's production expansion supporting energy grid stabilization applications.
- Mitsubishi Electric CorporationcoreBusiness partnership and joint development agreement signed May 14, 2024. Musashi provides next-generation storage devices; Mitsubishi Electric adds vibration-resistant, insulated, waterproof performance for railway vehicle compatibility, designing and manufacturing smaller next-gen storage modules. Mitsubishi Electric will globally distribute the modules to railway operators and manufacturers through its established sales network.
- Yamabiko CorporationcoreYamabiko's hybrid welding machine 'HDW310M-I' uses Musashi's HSC for engine output assist, reducing CO2 and fuel consumption by ~60% vs. conventional diesel welding machines. This product won the 2023 Energy Conservation Award (Energy Conservation Center Chairman's Award).
- Toyota Energy SolutionscoreMusashi's LIC adopted in Toyota Energy Solutions' stationary fuel cell generator. The LIC enables instant 50kW output during autonomous operation and extends the usable temperature range. Toyota Energy Solutions uses FC stacks from the MIRAI vehicle for stationary power generation in factories and public facilities.
- Hokusho CorporationcoreHokusho integrates Musashi's HSC into its VEAS and E-VEAS energy-saving control devices for vertical reciprocating conveyors (Auto-Rator). The system captures regenerative energy and assists motor power during lifting, achieving 38–50% energy savings. This partnership contributed to Hokusho winning the 2023 Energy Conservation Award.
- Forze Hydrogen Racing (Netherlands)coreLong-standing technology partnership with Forze Hydrogen Racing, a student team from Delft University of Technology. Musashi's HSC cells serve as the core 'Buffer' energy storage in the Forze IX hydrogen fuel cell racing car, providing 500kW boost power and capturing regenerative braking energy. Forze has used Musashi's technology across multiple generations of racing cars.
- CKD CorporationminorJoint development agreement with CKD Corporation (愛知県小牧市) to commercialize roll-to-roll lithium pre-doping equipment for LIB manufacturers. Musashi contributes its proprietary pre-doping technology; CKD contributes electrode handling expertise from its winding machine business. The combined solution targets 20–40% energy density improvement and 3–4× cycle life extension for LIB.
- Shanghai Capenergy Technology / Xinfeng Optoelectronic Technology (China)minorJoint development of Wayside ESS (Energy Regeneration System) for Qingdao Metro Line 8 in China, together with Shanghai Capenergy Technology and Xinfeng Optoelectronic Technology. Musashi supplies ULTIMO® LIC cells for the wayside energy storage that captures metro braking energy.
- Capstone Metering LLC (USA)minorJM Energy (now Musashi Energy Solutions), together with JSR Corporation and JSR Micro Inc., entered a joint development agreement with Capstone Metering LLC (Texas, USA) to develop next-generation smart water meters. Musashi's LIC powers the self-generating 'IntelliH2O' remote communication water meter for water conservation and automatic meter reading.
Scale indicators7 records
Recent moves13 records
Expansion highlights6 records
Musashi Energy Solutions competitors and assessment
Company assessmentDirect peers
- VINATech: South Korean manufacturer of EDLC supercapacitors and LICs (hybrid capacitors), serving automotive, energy storage, and industrial markets. Direct LIC competitor with similar cell-level technology approach.
- Skeleton Technologies: European supercapacitor manufacturer focused on grid, transportation, and industrial applications with curved graphene ultracapacitors. Competes with Musashi in automotive, rail, and grid stabilization use cases.
- CAP-XX: Australian manufacturer of thin supercapacitors and LICs for space-constrained IoT, consumer electronics, and industrial applications. Comparable technology positioning in the hybrid supercapacitor / LIC category.
- Nippon Chemi-Con: Major Japanese capacitor manufacturer producing EDLC supercapacitors and aluminum electrolytic capacitors. Most direct Japanese competitor with overlapping industrial and automotive customer base.
- LS Mtron: Korean manufacturer of supercapacitor cells and modules for automotive (start-stop, EV power assist) and industrial applications. Direct competitor with established OEM relationships in mobility and energy recovery.
- Maxwell Technologies (Tesla Energy): Acquired by Tesla in 2019, Maxwell Technologies pioneered large-format EDLC supercapacitors. Direct competitor in industrial and transportation energy storage applications where high power and long cycle life are required.
Broad incumbents
- TDK Corporation: Global electronics and capacitor giant offering EDLC supercapacitors and lithium-ion batteries. Competes in adjacent energy storage categories from a much broader electronics portfolio.
- Panasonic Energy: Major lithium-ion battery manufacturer with growing stationary energy storage and data center battery business. Competes indirectly as the dominant incumbent in energy storage that HSC must displace.
- Eaton (Electronics Division / supercapacitor products): Diversified industrial conglomerate offering supercapacitor-based energy storage products alongside power management, electrical, and aerospace solutions. Competes broadly in industrial UPS and energy storage applications.
Emerging players
- Yunasko: Ukrainian startup developing hybrid lithium-ion capacitors and asymmetric supercapacitors for transportation and grid applications. Emerging player with overlapping hybrid capacitor technology positioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Musashi Energy Solutions social profiles
Digital presenceMusashi Energy Solutions compliance and trust
Trust signalCompliance2 records
Musashi Energy Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Musashi Energy Solutions leadership team
Management profileNumber of profiles
Profiles13 records
Musashi Energy Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Musashi Energy Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Musashi Energy Solutions
What does Musashi Energy Solutions do?
Musashi Energy Solutions develops, manufactures, and sells hybrid supercapacitor (HSC) / lithium-ion capacitor (LIC) cells, modules, and packaged energy storage systems under the ULTIMO brand. The company's core products are prismatic can-type HSC cells (available in 4100F, 3300F, and 2300F capacities), high-voltage modules up to 1450V, and the ESS400 stationary energy storage system. These products serve industrial OEMs, data center operators, railway operators, and mobility equipment manufacturers.
Is Musashi Energy Solutions a public or private company?
Musashi Energy Solutions is a private company. It is classified as corporate owned and is currently operating.
When was Musashi Energy Solutions founded?
Musashi Energy Solutions was founded in 2007. It employs 11 to 50 people.
Where is Musashi Energy Solutions based?
Musashi Energy Solutions is headquartered in Hokuto, Japan, in the Asia region.
How does Musashi Energy Solutions make money?
Three revenue lines are on record. HSC Cell Sales are the primary driver. The others are HSC Module & System Sales and next-Generation Device Licensing to Partners.
Who are Musashi Energy Solutions's main competitors?
Direct peers on record are VINATech, Skeleton Technologies, CAP-XX, Nippon Chemi-Con, LS Mtron and Maxwell Technologies (Tesla Energy). Broad incumbents are TDK Corporation, Panasonic Energy and Eaton (Electronics Division / supercapacitor products). Yunasko is listed as an emerging player.
Does Musashi Energy Solutions have an API?
No public API is recorded for Musashi Energy Solutions.
What industry is Musashi Energy Solutions in?
Musashi Energy Solutions's product category is Energy Storage Systems. Its primary akta.pro industry code is IMAGAHAB, Battery Modules & Packs (Industrial/Commercial pack assembly). Its NAICS code is 33591 and its SIC code is 3600.