Okinawa company to provide incinerators to Bali hospitals

The Okinawa Development Finance Corporation and Okinawa Bank announced that they have extended financing to Tomas Technical Institute Co., Ltd., the developer of small-size incinerator “Chirimeser,” to provide working capital to develop overseas markets for the product.

The two entities aim to strengthen their backing in a public-private partnership to support Tomas Technical Institute’s overseas project to install the small-size incinerators in hospitals in Bali, Indonesia. The project is an adopted project of Japan International Cooperation Agency (JICA).

Officials from the Okinawa Development Finance Corporation announced at a press conference at JICA Okinawa in Urasoe City, on Mar. 30th the extension of a ¥50 million equity loan to the institute. Okinawa Bank did not publish the amount of the bank financing.

Tomas Technical Institute uses the financing to boost their development projects overseas with the verification test of installing Chirimeser incinerators in 10 hospitals in Bali Island. The project is a start to resolve the problem of medical waste on the island.

Kenji Fukutomi, the president of Tomas Technical Institute, said, “The Chirimeser will help resolve the problem of waste in and out of Okinawa Prefecture and overseas. We would like to contribute to Okinawa’s economy by pioneering the market.”

Takahiro Taira, the director of Okinawa Development Finance Corporation, Okinawa Chubu Branch Business Division, said, “We will support the overseas development projects by appreciating the company’s technological capability and business prospects.”

In addition to financing the project, Okinawa Bank is consulting the company in regards of international taxes and accounting, and providing fund settlement services for overseas projects.

Acting general manager of Okinawa Bank Corporate Section, Tsukasa Matayoshi said, “We will support the company’s strategy countervailing major companies by riding on the strength of patented technology”.

To Tomas Technical Institute, inquiries about the product from many countries and districts such as Vietnam, Philippines, Hawaii, Brazil, Taiwan.

Currently, The company’s annual sales is just under 100 million yen, but they targets the operating overseas and aim to 300 million yen five years later, and over 500 million yen ten years later.

The Chirimeser, small-sized incinerator is the size of one tatami mats.

It is small but has high quality performance that it makes complete combustion waste, do not make black smoke, and analyzes dioxins by high temperature.