TOKYO - SYLA Technologies Co., Ltd. (NASDAQ: SYT), known for its real estate crowd-funding platform Rimawari-kun, has announced a business collaboration with ABILITY LTD. to initiate a clean energy project focusing on solar power and hydrogen energy.
SYLA Solar Co., Ltd., a subsidiary of SYLA Technologies, will work jointly with ABILITY to launch a demonstration experiment aimed at efficient renewable energy utilization and hydrogen expansion.
The partnership will encompass planning, research, development, design, production, and sales operations related to the supply of clean energy. The project will involve the use of solar-generated electricity to produce hydrogen, which will be stored in atmospheric pressure hydrogen cartridges.
These cartridges will be utilized in fuel cell generators, with the aim of also exploring the use of the resulting oxygen and the heat and electricity generated by the fuel cell process.
This joint demonstration experiment is part of the companies' efforts to offer innovative energy solutions and contribute to the creation of a sustainable society by leveraging their combined technological capabilities and expertise.
SYLA Technologies, headquartered in Tokyo, operates the largest membership real estate crowd-funding platform in Japan and is engaged in the investment condominium business. The company's mission is to democratize real estate investment through technology and asset management.
The information regarding the partnership and demonstration experiment is based on a press release statement from SYLA Technologies. The forward-looking statements included in the press release reflect the company's current expectations and projections, which are subject to risks and uncertainties that could cause actual results to differ materially.
Investors and interested parties are advised that forward-looking statements should not be seen as guarantees of future performance and that actual events or results may differ significantly from those anticipated in such statements. The company has not committed to updating any forward-looking statements following the date of the press release.
In other recent news, SYLA Technologies has released its second-quarter investor update for 2024, revealing growth in its operations and membership. The company's real estate portfolio saw an expansion with the sale of SYFORME SUMIYOSHI II and the completion of the SYLA TOYOCHO office building.
In addition, SYLA Technologies was awarded the Excellent Business Award for its SYFORME MOTOMACHI-CHUKAGAI project, which meets the net Zero Energy House Mansion standards. A new joint real estate venture has been initiated with CUMICA and the company's AI rental brokerage service, ietty, has reached over 400,000 members.
Key metrics from the investor update include an increase in managed buildings to 78, managed units to 3,420, and a slight rise in occupancy rates to 99.8%. The company's crowdfunding platform, Rimawari-kun, has begun fundraising for seven new projects and launched ten projects during the quarter.
Membership for the platform rose to 279,838 and its gross merchandise value grew from 6,844 million JPY to 7,594 million JPY. These developments reflect the company's ongoing efforts to make real estate investment more accessible globally.
InvestingPro Insights
As SYLA Technologies Co., Ltd. (NASDAQ: SYT) embarks on its venture into the clean energy sector through its collaboration with ABILITY LTD., investors may find the following metrics from InvestingPro insightful.
SYT's current market capitalization stands at a modest 49.28 million USD, reflecting the size and scale of the company within the vast technology and renewable energy markets. The company's P/E ratio, adjusted for the last twelve months as of Q4 2023, is 11.45, suggesting a potentially reasonable valuation relative to earnings.
An encouraging sign for potential investors is the company's PEG ratio of 0.18 for the same period, which might indicate that the stock is undervalued based on expected growth rates. Moreover, SYT has achieved a gross profit of 39.28 million USD, with a gross profit margin of 24.35% over the last twelve months as of Q4 2023. This profitability measure is crucial for investors assessing the company's financial health, especially when entering a capital-intensive industry like renewable energy.
Despite recent volatility in the stock price, with a 1-year price total return of -70.82%, InvestingPro has determined a fair value estimate of 3.11 USD for SYT, which exceeds its previous close price of 1.89 USD. This suggests a potential upside based on fundamental analysis. For those looking to delve deeper, InvestingPro offers additional tips on SYT; using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription to access these valuable insights. There are 15 more InvestingPro Tips available for SYT, providing a comprehensive analysis for informed investment decisions.
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