DENSO announced as corporate sponsor of Detroit-based NextEnergy venture services program

DETROIT, Oct. 27, 2016 /PRNewswire/ -- NextEnergy, one of the nation's leading accelerators of advanced technologies, is partnering with global automotive supplier DENSO in an effort to accelerate the implementation and commercialization of advanced mobility and smart city technologies.

"DENSO is excited and proud to be sponsoring NextEnergy," said Tony Cannestra, the Director of Corporate Ventures for DENSO International America.  "We believe that working with NextEnergy to expand our knowledge of startup companies in the Midwest will be very valuable to DENSO's external innovation efforts.  In addition to that, NextEnergy's commitment to clean energy advancement is an excellent fit to DENSO's long-term corporate goal of pursuing eco-friendly partnerships."

As part of the partnership, DENSO International America, Inc. (DIAM) becomes a corporate sponsor of NextEnergy's venture services program, and NextEnergy will serve as a strategic advisor to DIAM's Corporate Venture Group, which is based in San Jose, California. In addition to early insight on new technologies as they are being developed, the partnership will provide DENSO with networking, startup engagement and other relationship-building opportunities as well as an avenue for potential investments in NextEnergy clients.

"Collaboration for the purpose of accelerating technologies is the core of what we do," said Jean Redfield, president and CEO of NextEnergy. "As part of our partnership with DENSO, we're striving to help them meet their business goals by providing first-hand knowledge of collaboration opportunities with NextEnergy clients and technologies."

This corporate sponsorship aligns with DENSO's corporate environmental policy and action plan to help resolve environmental and energy issues and conduct business in harmony with nature. DENSO's ECO VISION policy, which was first launched in 1997, has been in place for nearly 20 years.

About NextEnergy:Founded in 2002 as 501(c)(3) nonprofit organization, NextEnergy is one of the nation's leading accelerators of advanced energy and transportation technologies, businesses and industries. NextEnergy drives technology demonstration and commercialization; delivers industry and venture development services; and provides an authoritative voice in the public sector. Since its inception, NextEnergy has helped attract more than $1.5 billion of new investment, including programs in excess of $160 million in which NextEnergy has directly participated. For more information, visit nextenergy.org.

About DENSODENSO Corp., headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.

In North America, DENSO employs more than 23,000 people at 30 consolidated companies and affiliates. Of these, 28 are manufacturing facilities located in the United States, Canada and Mexico. In the United States alone, DENSO employs more than 15,000 people in Alabama, Arkansas, California, Iowa, Georgia, Kentucky Michigan, North Carolina, Ohio, Pennsylvania South Carolina, Tennessee and Texas. DENSO's North American headquarters is located in Southfield, Michigan. DENSO's North American consolidated sales totaled US$9.9 billion for the fiscal year ending March 31, 2016. For more information, go to www.densocorp-na.com.

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SOURCE DENSO