What EF-ON does

EF-ON (株式会社エフオン, TSE Standard Market code 9514) is a Tokyo-headquartered energy and environmental services company founded in May 1997 as Japan's first ESCO (Energy Service Company) specialist. The company operates four integrated business segments: wood biomass power generation across five plants (Shirakawa 12.1 MW, Hita 12.0 MW, Bungo-Ono 18.0 MW, Mibu 18.0 MW, Shingu 18.0 MW — total ~78.2 MW), energy-saving consulting services for industrial and commercial clients, retail electricity sales bundling biomass output with non-fossil certificates for RE100-aligned buyers, and a forestry business managing more than 6,000 hectares of company-owned forests across Japan. The group's core technical capability is the combustion of high-moisture fresh wood (50-60% moisture content of fuel mix) in circulating fluidized bed (CFB) boilers, achieving ~27% generation efficiency and >90% sustained operational rates — performance metrics materially above typical wood-only biomass plants. EF-ON is the only listed Japanese company combining this vertically integrated clean energy stack (forestry → biomass generation → retail electricity with non-fossil certificates → ESCO services), and participates in regulatory frameworks including Japan's GX League, TCFD-aligned climate disclosure, and the 30by30 Alliance for biodiversity.

EF-ON monetizes through four streams: (1) usage-based revenue from grid electricity sales under Japan's FIT/FIP scheme at its five biomass plants; (2) professional-services fees from ESCO-style energy-saving engagements using shared/guaranteed-savings financing models; (3) subscription-style recurring retail electricity contracts with RE100-compatible optionality for high-voltage and extra-high-voltage commercial customers; and (4) timber and forest-origin carbon credit sales. Go-to-market is enterprise field sales, with the retail division headquartered in Tokyo serving business customers directly, supplemented by direct energy-saving consulting visits and door-to-door sales for forestry asset acquisition. Customer segments are concentrated in industrial and commercial electricity buyers pursuing ESG/RE100 commitments, with national/regional forestry ecosystem partners (e.g., Biome K.K., Kyoto Prefecture, Mibu Town). Ownership is broadly distributed with Japan Techno Co., Ltd. holding 32.58%, Japan Master Trust Bank 8.72%, and UH5 Co. 7.40% (as of June 2025); President and Representative Director is 島﨑 知格 (Shimazaki Tomonori).

Name

EF-ON

Legal name

株式会社エフオン

Website

https://ef-on.co.jp

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

251–500 employees

Short description

EF-ON (TSE: 9514) is a Tokyo-based Japanese clean energy company operating wood biomass power generation across five plants (~78.2 MW total), ESCO energy-saving services, RE100-compatible retail electricity sales with non-fossil certificates, and a forestry business managing over 6,000 hectares of company-owned forests for industrial and commercial customers.

Ownership category

akta.pro rank

Product category

Renewable Energy Services

NAICS

Biomass Electric Power Generation (221117), Support Activities for Forestry (1153), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991), Forestry (800), Electric Services (4911)

akta.pro primary industry

Forestry & Wood Waste Biomass Power (Sawmill Residues, Black Liquor) (EUACAIAG)

akta.pro secondary industry

Biomass Combustion & Boiler Island Technology (Grates, Fluidized Bed, Burners) (EUAAAGAG)

Keywords

• Wood biomass power generation
• Energy saving services
• Renewable electricity retail
• Forest carbon management
• ESCO energy efficiency

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Green Energy (Wood Biomass Power Generation) Business: Revenue from selling electricity generated at five wood biomass power plants (total capacity ~78.2MW). Operates under Japan's Feed-in Tariff (FIT/FIP) system. The electricity is sold to the grid and complemented with non-fossil certificates for retail customers.
2. Energy-Saving Support Services: ESCO-style services where EF-ON proposes energy efficiency improvements (equipment upgrades, operational changes) to corporate clients, with costs recovered through guaranteed or shared savings models.
3. Retail Electricity Sales: Selling electricity sourced from group-owned biomass plants with non-fossil certificates (再エネ指定) to commercial and industrial customers. Suitable for RE100 and environmental initiatives.
4. Forestry Business: Revenue from forest management, timber sales, and sale of forest-origin carbon credits. Forest land expansion supports both fuel supply for biomass plants and carbon sequestration goals.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

EF-ON is a Tokyo-headquartered integrated clean energy company that owns and operates five wood biomass power plants (~78.2 MW total capacity) using proprietary high-moisture fresh wood combustion technology, provides ESCO-style energy efficiency consulting and equipment upgrade services to industrial and commercial customers, sells environmentally-valued retail electricity with non-fossil certificates to corporate buyers for RE100 compliance, and manages over 6,000 hectares of company-owned forests to supply biomass fuel and generate forest-origin carbon credits.

Product overview

EF-ON Group operates as a diversified energy and environmental services company organized around four core business segments: (1) Green Power Business (木質バイオマス発電) - woody biomass power generation at five plants (白河, 日田, 豊後大野, 壬生, 新宮) producing over 78,000 kW combined using domestically sourced wood chips; (2) Energy Saving Support Services (省エネルギー支援サービス事業) - comprehensive energy efficiency consulting covering equipment updates, operational improvements, and indoor environment optimization using shared/guaranteed savings financing models; (3) Power Retail Business (電力小売事業) - electricity sales with non-fossil certificates enabling RE100 compliance; and (4) Forestry Business (山林事業) - managing 6,000+ hectares of company-owned forests for sustainable timber supply to power plants while pursuing international forestry standards. The Group also conducts sustainability activities including biodiversity conservation, with its 'Meguri Forest' (めぐりの森) certified as a Nature Coexistence Site.

Differentiator

Problem solved

Functional benefit

Brands

• エフオンめぐりの森 (Meguri Forest): Biodiversity conservation initiative covering the company's owned forests (approximately 6,000 ha), including the designated 'Nature Co-existence Site' in Kyoto.

Products and services

• Green Power Business (Woody Biomass Power Generation) Woody biomass power generation using domestically sourced wood chips as fuel across five power plants (Shirakawa 12,100 kW, Hita 12,000 kW, Bungo-Ono 18,000 kW, Mibu 18,000 kW, Shingu 18,000 kW) with combined output exceeding 78,000 kW. Electricity is sold to the grid under Japan's FIT/FIP system.
• Energy Saving Support Service (ESCO) Comprehensive ESCO-style energy efficiency services covering equipment updates (HVAC, lighting, boilers, compressors, refrigeration), operational improvements, indoor environment optimization, and financing solutions for industrial and commercial facilities, with costs recovered through guaranteed or shared savings models.
• Power Retail Business (Retail Electricity Sales) Retail electricity sales delivering environmentally-valued power sourced from group-owned biomass plants and the Japan Electric Power Exchange (JEPX), complemented with non-fossil certificates, to high-voltage and extra-high-voltage commercial and industrial customers.
• Environmentally-Valued Electricity (RE100-Compatible Supply) Electricity supply offering renewable energy value and CO2-free value through non-fossil certificates (再エネ指定), designed to help companies meet RE100 commitments and other environmental initiatives using domestically sourced renewable energy.
• Forestry Business Sustainable forest management spanning 6,000+ hectares of company-owned forests, including seedling cultivation, afforestation, timber production, forest ecosystem conservation, and sale of forest-origin carbon credits, with the long-term goal of international forestry standards certification.

Quantifiable outcome

• Power generation efficiency ~27% — significantly above industry average for wood-only biomass plants
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Kyoto Prefecture (京都府)minorStrategic or Co-development Partner · 1 September 2025EF-Bios signed an agreement with Kyoto Prefecture for providing information on rare flora and fauna (希少動植物の情報提供に関する協定書), contributing to regional biodiversity conservation efforts in September 2024.
• Tochigi Prefecture Mibu Town (栃木県壬生町)minorStrategic or Co-development Partner · 1 September 2025Signed a comprehensive partnership agreement (包括連携協定) with Mibu Town, Tochigi Prefecture in October 2023 to promote regional sustainable development.
• 30by30 Alliance (生物多様性のための30by30アライアンス)coreStrategic or Co-development Partner · 1 July 2025Joined the 30by30 Alliance in July 2025, a voluntary coalition of companies, municipalities, and organizations working toward the goal of conserving and protecting at least 30% of Japan's land and sea by 2030 (30by30 target) and achieving Nature Positive outcomes.
• Biome K.K. (株式会社バイオーム)minorStrategic or Co-development Partner · 1 January 2023EF-ON Group collaborates with Biome K.K. on biodiversity surveys at company-owned forests in Kyoto Tanba Highlands National Park (京都府京都市右 京区). Surveys cover birds, amphibians, reptiles, fish, and plants, conducted since 2023.
• GX League (GXリーグレارا)coreStrategic or Co-development Partner · 1 January 2023EF-ON Group participates in Japan's GX (Green Transformation) League from fiscal year 2023, working toward carbon neutrality by reducing GHG emissions and creating forest-origin carbon credits.

Scale indicators10 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Hitachi Zosen Inova AG: Global EPC contractor for energy-from-waste and biomass power plants, with strong presence in Japanese and Asian markets. Comparable as a biomass power technology and EPC peer.
• Kobelco Eco-Solutions Co., Ltd. Subsidiary of Kobe Steel focused on environmental engineering, including biomass power generation and waste-to-energy. Comparable as a Japanese incumbent in biomass power EPC and operations.
• Kansai Electric Power Co., Inc. One of Japan's largest utilities with a growing renewable generation portfolio, including biomass. Comparable as a large Japanese power producer expanding into renewables and corporate clean electricity supply.
• IHI Corporation: Large Japanese engineering firm with a bioenergy and power systems business, including biomass plant EPC and operations. Comparable as a major incumbent in Japan biomass power infrastructure.
• Tokyo Gas Co., Ltd. Major Japanese energy utility increasingly active in renewables, including biomass and corporate RE100 electricity supply. Comparable to EF-ON's retail electricity business with a much larger incumbent footprint.

Direct peers

• Takuma Co., Ltd. Japanese EPC and boiler manufacturer specializing in biomass combustion and waste-to-energy plants. Comparable as a technology peer with overlapping boiler/biomass domain expertise.
• Renova, Inc. Tokyo-listed (9519) renewable energy developer operating multiple biomass (wood-chip) power plants in Japan. Most directly comparable to EF-ON's woody biomass generation business and similar RE100 retail positioning.
• Sumitomo Forestry Co., Ltd. Major Japanese forestry company with a wood biomass power generation business and large forest holdings. Comparable to EF-ON in combining forestry ownership with biomass energy monetization.

Emerging players

• Nishimatsu Construction Co., Ltd. Japanese construction and forestry/biomass operator with woody biomass power generation assets. Comparable as a niche player combining forest management with biomass generation.
• Suzuran Kogyo Co., Ltd. Japanese company with biomass power and forestry-related businesses. Comparable as a smaller emerging player with overlapping wood-biomass and forestry operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/efon_forest

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 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 EF-ON