5 April, 2002 – Japan’s Kyushu Electric Power Company has invested $10m in United States-based APX, an independent transaction processing agent for wholesale electric power markets.
Kyushu will serve as an adviser to the APX board of directors after the investment, through which it joins nine other energy industry and trading corporations from the US, Canada, and Japan, APX said in a press release.
“We are pleased to welcome Kyushu Electric Power, one of the largest Japanese utility companies, as an investor in APX,” said John Yurkanin, APX president and CEO. “Our power market services have become the industry standard in several regions, and Kyushu Electric Power’s investment supports our expansion of services that streamline infrastructure and expand market access,” he added.
Kyushu Electric Power, listed on the first boards of the Tokyo, Osaka, and Fukuoka stock exchanges, delivers more than 75m MWh annually to the Kyushu region of Japan. The region contains 13 million people and encompasses
the southwest area of Japan’s four main islands, as well as over 1400 small islands.
APX processes more than 500m MWh hours per year for approximately 200 client companies in North America and Europe.