IQg

What IQg does

IQg (株式会社IQg, headquartered in Tokyo, founded 2016) is a Japanese renewable energy development and technology company that builds, distributes, and operates assets and products across the solar and battery storage value chain. The company's core proprietary product is the Mighty Sheet series of PET resin-based anti-grass sheets for solar power plants — co-developed with Tokyo Stock Exchange-listed Butterfly Corporation (蝶理) — which achieves a 99.98% light-blocking rate, priced below PP alternatives, and is sold exclusively by IQg in the Japanese market (cumulative volume of 800,000+ sqm over 2021–2024). The technology stack spans a standard sheet (Mighty 110), a reflective dual-layer variant for bifacial modules (Mighty 150), Hoymiles microinverter distribution (since 2017), and Coolnomix energy-saving devices that cut inverter-room air conditioning loads by 30–40%.

IQg's business model combines hardware distribution with services: it sells anti-grass sheets and microinverters via dealer networks and direct sales to solar plant operators, while operating a registered retail electricity business (registration A0824, since February 2022) with three menus — market-linked pricing with a fixed-price fallback, offsite PPA using proprietary renewable sources, and demand response for cogeneration/diesel customers. Through its 2024 capital and business partnership with European-based Second Foundation and the JV 合同会社日本オブノ (Japan Obsino LLC, May 2024), IQg participates in grid-scale battery storage aggregation, algorithmic power trading via Second Foundation's Sophon Platform (500MW+ in Japan, 2.3GW+ in Europe), and renewable project development (solar FIT, on-site/off-site PPA, vPPA). Maintenance services cover extra-high voltage, high voltage, and low voltage solar plants (approximately 250 annual low-voltage inspections).

The company sells primarily to three segments: utility and commercial solar plant owners/operators, renewable energy developers and investors, and commercial/industrial energy consumers seeking renewable procurement and electricity cost optimization, with a secondary focus on agricultural PPA customers. Its CEO and founder Masaki Mizuta previously led Yingli Green Energy Japan, and the company has secured multiple government subsidy selections (METI price mitigation program, MOE off-site corporate PPA program, demand-driven solar introduction subsidy via subsidiary Swallow XFF) as well as energy-saving device subsidies, indicating policy-aligned positioning. The company operates from Tokyo (Chiyoda-ku) and Kobe (opened April 2025), with prior international project activity in the Maldives and the Philippines.

Name

IQg

Legal name

株式会社IQg

Website

https://iqg.jp

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

IQg is a Tokyo-based renewable energy company that develops, distributes, and operates solar and battery storage assets and products in Japan, including exclusive distribution of PET anti-grass sheets, Hoymiles microinverters, electricity retail, and aggregation services via its Second Foundation partnership.

Ownership category

akta.pro rank

Product category

Renewable Energy Services

NAICS

Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Incentives, Grants & Program Administration (Auctions, Tenders, IRA/ITC/PTC Advisory) (EUAMAAAJ)

Keywords

• Renewable energy development
• Solar power solutions
• Electricity retail services
• Energy aggregation services
• PET weed control sheets

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Anti-Grass Sheet Sales: Sales of PET resin anti-grass sheets (マイティーシート) for solar power plants. Cumulative sales reached over 800,000 sqm from 2021-2024 (70,000 sqm achieved by May 2021). IQg serves as exclusive domestic distributor in Japan for products developed by 株式会社蝶理.
2. Retail Electricity Sales: Power retail electricity sales with three menu options: (1) market-linked pricing with ability to switch to fixed pricing during price surges, (2) offsite PPA using proprietary renewable energy sources, (3) demand response (DR) services for cogeneration and diesel generator customers. Registered retailer since February 2022 (registration number A0824).
3. Power Source Development and Investment: Development, investment, construction, and operation of renewable energy power sources and grid-scale battery storage facilities. Experience includes solar FIT projects, onsite PPA, offsite PPA, and grid-scale battery storage development and investment. Development operations transferred to 合同会社日本オブノ (joint venture with capital partner) in May 2024.
4. Maintenance Services: Maintenance operations for solar power plants (extra-high voltage, high voltage, low voltage) and grid-scale battery storage facilities in Japan. Approximately 250 annual inspection cases for low-voltage solar plants.
5. Microinverter Sales: Sales of Hoymiles microinverter products in Japan since 2017.
6. Energy-Saving Product Sales: Sales and rental of Coolnomix energy-saving devices for solar power plant inverter rooms, reducing air conditioning electricity consumption by 30-40% for redirecting to power sales revenue.
7. Aggregation Services: Renewable energy aggregation services including FIT, offsite PPA, vPPA and grid-scale battery storage operations. Acts as agent for Second Foundation Japan (特定卸供給事業者) in Japan managing 500MW+ capacity.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

IQg provides renewable energy solutions for the Japanese market, including: (1) exclusive domestic distribution of PET resin-based anti-grass sheets (Mighty Sheet, Mighty 110, Mighty 150) for solar power plants; (2) retail electricity supply with three menu options including market-linked pricing, offsite PPA, and demand response; (3) renewable energy aggregation services for grid-scale battery storage and solar power plants; (4) maintenance services for solar power plants (special/high/low voltage); and (5) hardware products including Hoymiles microinverters and Coolnomix energy-saving devices. The company is also involved in development, investment, construction, and operation of renewable energy power sources.

Product overview

IQg offers a portfolio of solar energy-related products and services centered around PET resin-based weed control sheets (Mighty Sheet series including Mighty 110 and Mighty 150), microinverters (Hoymiles), and energy-saving devices (Coolnomix). Complementing these products, the company provides renewable energy aggregation services, retail electricity sales (with market-linked, offsite PPA, and DR options), and maintenance services for solar power plants and grid-connected battery storage facilities. The Mighty Sheet products work alongside the electricity trading and maintenance services to provide a comprehensive solar power plant management solution.

Differentiator

Problem solved

Functional benefit

Products and services

• Mighty Sheet (マイティーシート) PET resin-based weed control sheets for solar power plants, available in standard (Mighty 110) and reflective (Mighty 150) variants for bifacial solar modules. Exclusive Japan distribution partnership with 株式会社蝶理.
• Electricity Retail Services Retail electricity sales with three menu options: (1) market-linked pricing with ability to switch to fixed pricing during price surges; (2) offsite PPA using proprietary renewable energy sources; (3) demand response (DR) services for cogeneration and diesel generator customers. Registered retail electricity operator (registration A0824).
• Renewable Energy Aggregation Services Aggregation services for grid-connected battery storage and solar power, including demand response and power trading in spot markets. Acts as agent for Second Foundation Japan (特定卸供給事業者) in Japan managing 500MW+ capacity.
• Solar Power Plant Maintenance Services Maintenance services for solar power plants including special-high voltage, high voltage, and low voltage facilities in Japan, with annual inspection capacity of approximately 250 low-voltage sites.
• PPA Power Supply Services PPA-based solar power supply providing renewable electricity to commercial and industrial customers (including livestock farms like Sansei Farm and manufacturers like ALP), reducing their electricity costs while contributing to CO2 reduction.
• Renewable Energy Project Development and Investment Development, investment, construction, and operation of renewable energy power sources (onsite PPA, offsite PPA, virtual PPA) and grid-scale battery storage facilities. Includes solar FIT projects and project rights acquisition.

Quantifiable outcome

• 30-40% reduction in inverter room air conditioning electricity consumption
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor, core and major.

• ポート株式会社 (Port Co., Ltd.)minorGTM or Marketing Partner · 1 October 2025Operational partnership for grid-scale battery storage facility operations. Port Co., Ltd. and Second Foundation Japan合同会社 collaborating on battery storage operations management.
• 株式会社フォーシーズHD (Four Seasons HD)minorGTM or Marketing Partner · 1 June 2025Operational partnership for grid-scale battery storage facility operations. Four Seasons HD and Second Foundation Japan合同会社 collaborating on battery storage operations management.
• スマートソーラー株式会社 (Smart Solar)coreStrategic or Co-development Partner · 1 October 2024Strategic partnership for joint battery storage project development and operations. Three-party joint press conference held at Czech Republic Embassy with Second Foundation Japan and Smart Solar announcing野木 grid-scale battery storage project (1.99MW, 8.1MWh).
• Second Foundation / 欧州セカンドファンデーションcoreStrategic or Co-development Partner · 1 July 2024Capital and business partnership for renewable energy business growth. Second Foundation is a world leader in renewable energy power management and algorithmic trading. Partnership includes establishment of Second Foundation Japan合同会社 (May 2023) and 合同会社日本オブノ (May 2024) joint venture.
• 合同会社日本オブノcoreStrategic or Co-development Partner · 1 May 2024Joint venture with Second Foundation Japan for renewable energy project development. Specializes in development of grid-scale battery storage and solar power plant high-voltage projects, including acquisition of project rights.
• 株式会社蝶理 (蝶理 / Butterfly Corporation)coreTechnology or Integration · 1 January 2020Exclusive domestic distribution partnership in Japan for PET resin anti-grass sheets (マイティーシート). 株式会社蝶理 (Tokyo Stock Exchange First Section listed since 2013) developed the products using proprietary technology. IQg serves as exclusive distributor, achieving 800,000+ sqm cumulative sales from 2021-2024.
• Hoymiles社 (Hoymiles)majorTechnology or Integration · 1 January 2017Distribution partnership for microinverter products in Japan since 2017. Hoymiles (established 2013, Hangzhou, China) specializes in microinverter development and manufacturing, with expanding market share. IQg serves as sales agent for Japanese market.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Next Kraftwerke: Next Kraftwerke operates a virtual power plant and renewable aggregation/trading platform in Europe. It is comparable to IQg’s Sophon-enabled aggregation and power-trading activities, but primarily serves a different geography.

Direct peers

• Shizen Energy Inc. Shizen Energy develops, finances, operates, and manages renewable energy projects in Japan and overseas, including corporate PPA and energy-management offerings. It is highly comparable to IQg’s renewable project development, PPA, and asset-optimization activities.
• Looop Inc. Looop is a Japanese renewable energy company active in solar development, electricity retail, and energy services. It overlaps with IQg’s retail electricity, renewable power supply, and solar-related customer base.
• SymEnergy Inc. SymEnergy develops renewable power assets and operates electricity retail services in Japan. Its mix of renewable generation, power sales, and local energy solutions is similar to IQg’s PPA and retail electricity model.
• Smart Solar Corporation: Smart Solar develops solar and storage-related energy solutions in Japan and is involved in battery storage projects. It is comparable to IQg’s solar development and grid-scale battery storage initiatives, even though it also appears as a strategic partner.

Broad incumbents

• Pacifico Energy K.K. Pacifico Energy develops and operates renewable energy projects in Japan, including large-scale solar and storage-related assets. It is comparable to IQg’s renewable power source and grid-scale battery development focus, though with a more utility-scale IPP profile.
• West Holdings Corporation: West Holdings is an established Japanese solar and energy-services group with project development, EPC, O&M, and power-related businesses. It is comparable to IQg’s solar development and maintenance activities but operates at a broader incumbent scale.
• RENOVA, Inc. RENOVA is a larger Japanese renewable energy developer and IPP active across solar, wind, biomass, and geothermal. It is comparable to IQg’s renewable project development and operating-asset ambitions, but at a much larger and broader scale.

Emerging players

• Digital Grid Corporation: Digital Grid provides platforms and services for renewable electricity procurement, corporate PPAs, and power matching in Japan. It is comparable to IQg’s aggregation, trading, and offsite PPA activities, though it is more platform-centric.
• UPDATER, Inc. UPDATER operates renewable electricity and decarbonization services in Japan, including traceable clean-power retail offerings. It is comparable to IQg’s C&I renewable electricity supply and CO2-reduction value proposition.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IQg