MOL and Pyxis sign Collaboration Agreement for development and market expansion of electric vessels in Singapore and Japan
Mitsui O.S.K. Lines, Ltd. (MOL) and Pyxis Maritime Pte Ltd. (Pyxis) have signed a Memorandum of Understanding (MoU) to collaborate on joint development and marketing of the electric vessels (EV's) business in the Singapore region, as well as marketing for the expansion of EV's introduction in Japan in order to contribute achieving Zero Emission in the shipping industries.
MOL and Pyxis will harness, MOL's maritime expertise, market networks and industry knowledge as shipping company with Pyxis's agility and fast execution as start-up company to drive the mass adoption and commercialization of EV's to create a greener and sustainable future.
MOL Group has 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.
Through this cooperative relationship, the two companies 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.
MOL was founded in 1884, and its business centers on the ocean shipping industry. Operating a fleet of about 800 vessels, it develops a variety of social infrastructure businesses. MOL has 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.
Pyxis Maritime Pte Ltd is a maritime electrification technology start-up with a mission to create a sustainable, greener maritime future. By easing mass commercialization and adoption of electric coastal vessels, Pyxis accelerates maritime decarbonization while elevating vessel performance and management. Led by maritime veterans and supported by leading coastal vessel owners and government agencies, Pyxis is positioned to drive transformation in key port segments of Singapore and sister-ports in the region.
