March 30, 2015 Kuni Umi Asset Management (KUAM) invested 400 million yen in United Renewable Energy (URE), a 20.5 MW wood-fired biomass plant in Akita Prefecture, together with United Keikaku and Renova. This will be our second investment in biomass plant. Total project cost is approximately 12.5 billion yen. The plant will be constructed in Mukaihama, Akita-shi, Akita Prefecture. Akita Prefecture is the second largest producer of lumber (Japanese cedar) in Japan. The plant is a CFB (circulating fluidised bed) boiler , and will be manufactured by Sumitomo Heavy Industry. Commercial operation is slated to begin in July 2016, URE will produce annual electricity equal to approximately 38,000 households, and sold throught the feed-in-tariff system. This will become one of the largest biomass plant in Tohoku Region. URE will mainly use local wood as its fuel, using PKS (Palm Kernel Shell) as auxiliary fuel.