Mitsui O.S.K. Lines, Ltd. (MOL) and Pyxis Maritime Pte Ltd. (Pyxis) have entered into a Memorandum of Understanding (MoU) to jointly develop and promote the electric vessels (EVs) business in Singapore and drive the expansion of EV introduction in Japan, aligning with the goal of achieving zero emissions in the shipping industry.
Leveraging MOL’s extensive maritime expertise, market networks, and industry knowledge, coupled with Pyxis’s agility and fast execution as a startup, this partnership aims to accelerate the widespread adoption and commercialization of EVs, paving the way for a greener and more sustainable future.
MOL Group has elevated environmental sustainability as a cornerstone in its “BLUE ACTION 2035” management plan and is a trailblazer as the first Japanese ocean shipping company to set a target of achieving net zero greenhouse gas (GHG) emissions by 2050. Through this collaboration with Pyxis, they are committed to introducing clean energy solutions.
This cooperative endeavor will see both companies actively engaging with industry stakeholders, pooling their collective knowledge, and implementing strategic initiatives for decarbonization while closely monitoring environmental regulatory developments.
“I am pleased to conclude the MOU with Pyxis, which is committed to the introduction and expansion of EV vessels in Singapore. We believe this memorandum will be an important step for both companies to make a significant change in the shipping industry. Promoting the introduction of EV vessels to solve environmental issues will be one way. We believe cooperation with partners who has same ambition and trustworthy is essential to achieve that.” said Nobuo Shiotsu, Senior Managing Executive Officer of MOL.
“We are honored to partner with MOL, a global leader in the shipping industry. With the sustainability movement disrupting maritime businesses, efforts to decarbonize have become necessary to stay competitive. Our mission is to ease and boost mass adoption of EVs in the region. Together with MOL, we are confident in expanding our outreach into Japan which is one of our key markets,” said Tommy Phun, Pyxis Founder.
MOL, founded in 1884, operates in the ocean shipping industry with a fleet of approximately 800 vessels and is actively engaged in various social infrastructure businesses. The company’s environmental strategy plays a pivotal role in its “BLUE ACTION 2035” plan, and its ambition to achieve net zero GHG emissions by 2050 through the adoption of Electric Vessels (EVs) and clean energy fuels is at the forefront of its mission as a pioneering global social infrastructure group.
Pyxis Maritime Pte Ltd, a maritime electrification technology startup, is dedicated to creating a sustainable and greener maritime future. Their focus on streamlining the commercialization and adoption of electric coastal vessels contributes to maritime decarbonization, improving vessel performance and management. With strong support from maritime veterans, coastal vessel owners, and government agencies, Pyxis is positioned to drive transformation in key port segments of Singapore and sister-ports in the region.”
Source MOL Mitsui O.S.K Lines