What it sells
Rare-metal-free AZUL catalyst for fuel cells, electrolysis and metal-air batteries, plus Ferion air battery and AZUL supercapacitor.
Business model breakdown
Buyer: who owns the budget?
UnverifiedR&D and materials/battery development leads at fuel cell, electrolyser and battery makers and research institutes; inferred from sample evaluation and research reagent sales.
Trigger: what makes them buy now?
Platinum is costly (JPY 5M/kg stated) and supply-constrained; AZUL claims ~1/10 platinum cost, 99% less CO2 and no fire risk, and a Ferion air battery with 3x lithium-ion energy density.
Workflow: what inputs become what output?
Customer requests samples via contact form, evaluates AZUL catalyst in its cell/electrode, then buys through distributors (Nippo Sangyo since Feb 2025; Fujifilm Wako reagent catalogue since Jul 2026) or co-develops with AZUL, which also offers carbon support selection, ink dispersion and cell evaluation.
Economics: what it saves and how it charges
Claims about 90% lower cost than platinum catalyst and 99%+ lower CO2; mass producible in existing chemical plants; supercapacitor capacity 2.6x ordinary capacitors.
Distribution: how it reaches customers
Inquiry form for samples/consultation, replies in 2-3 business days.
Funding history and coverage
| Round date | Stage | Amount | Investors | Source |
|---|---|---|---|---|
| 2026-07-30 | Series A Extension | — | — | news.google.com |
Profiles summarize public reporting and company websites. Business-model notes are MaxBC's reading of that material, not confirmed facts; unknowns are left blank rather than guessed. Updated 2026-10-12.