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February 18th, 2021 – Elmodis, the Krakow based company developing state-of-the-art machine condition monitoring and predictive maintenance of electric motors has received the investment from Meidensha Corporation (Meiden). Last two years of cooperation between Elmodis and Meidensha on the Japanese and Asian market resulted in completing an investment and a strategic agreement.

The existing Investors, SET Ventures and Innovation Nest, also participated in the current investment round.

This funding will be used by Elmodis to further consistently execute its product development and implementation of its solution in various industries globally. The Elmodis solution uses the motor as a sensor in order to determine the condition of the machine. Elmodis’ team successfully implements in Poland, Western Europe, USA and as well in Japan.

In addition to this financial contribution a strategic cooperation between Meiden and Elmodiswill lead to increased activities on the Japanese and Asian market. The investment in scale-up Elmodis by Meiden is one of the important steps of the MeidenshaCorporation’s implementation of its management and investment strategy for businessdevelopment through open innovation. Meiden is scaling up innovative and sustainablebusiness partnerships with customers based on the well-proven, reliable technology know-how,built up over Meiden’s more than 120 years and the benefits of Elmodis’ advanced technologybased on the analysis of electrical motor parameters. The synergy from this partnershipimproves the quality of customer-focused solutions, such as extending asset lifetime,maximizing maintenance intervals and increasing machine efficiency, reducing the numbers and duration of unplanned downtime and improving OEE (overall equipment effectiveness). Thanks to this investment in Elmodis and cooperation with Meiden, it will be possible to scaleup and develop sales on international markets (especially Japanese and Asian) dynamically.Concurrently with the sales, continuous product development will be implementing in order tomeet the requirements of adaptation and certification for international markets and theexpectations and needs of Elmodis business partners.

Meidensha Corporation is a Tokyo, Japan-based company founded in 1897, so it has beenproviding its industrial solutions for over 120 years. Meiden manufactures and sells electricmotors, auxiliary equipment, IT systems, dedicated electronics for water and wastewaterinfrastructure, railways, power generation, electromobility and much more. Some of the mostessential elements of Meiden’s operations are to provide the highest quality solutions andsufficient support for customers’ peace of mind and satisfaction while taking care of theenvironment. Meidensha Corporation is listed on the first section of the Tokyo Stock Exchange.