Mitsui O.S.K. Lines, Ltd. (MOL) and Pyxis Maritime Pte Ltd. (Pyxis) have signed a Memorandum of Understanding (MoU) to collaborate on the joint development and marketing of the electric vessels (EV) business in the Singapore region.
The deal will also have the companies working together for the marketing for the expansion of EV introduction in Japan in order to contribute to achieving zero emissions in the shipping industries.
[Source: MOL]
The announcement said MOL and Pyxis would harness MOL's maritime expertise, market networks and industry knowledge as a shipping company with Pyxis's agility and fast execution as a start-up company to drive the mass adoption and commercialization of EVs to create a greener and sustainable future.
MOL noted that the Group had positioned its environmental strategy as one of the key strategies in its “BLUE ACTION 2035” management plan and is the first company in the Japanese ocean shipping industry to set the target of achieving net zero GHG emissions by 2050.
As part of the joint efforts with Pyxis, both firms will work to introduce clean energy.
Through this cooperative relationship, the two companies also plan to engage the industry and their respective stakeholders, interweave their knowledge, and implement strategic initiatives for decarbonization while closely monitoring the adoption of environmental regulations.
“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,” said Nobuo Shiotsu, senior managing executive officer of MOL.
He added that promoting the introduction of EV vessels to solve environmental issues will be one way.
“We believe cooperation with partners who have the same ambition and trustworthiness is essential to achieve that,” Shiotsu said.
Tommy Phun, founder of maritime electrification technology start-up Pyxis noted that 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,” Phun said.
