Asia/Pacific News
MOL's Venture Capital Arm Invests in Maritime Electrification Startup Pyxis
MOL Plus Co, a venture capital fund firm of Japanese shipping firm Mitsui O.S.K. Lines (MOL), has announced an investment in Singapore-based maritime electrification startup Pyxis Maritime.
The company will support Pyxis's technology and business development and facilitate collaboration using resources across the MOL Group, Pyxis said in a statement on its website on Tuesday.
The move is timed to meet Singapore's 2030 mandate requiring all new harbour craft to be fully electric, capable of using B100 biofuel, or compatible with net-zero marine fuels such as hydrogen.
Pyxis is a developer and manufacturer of electric vessels and the operator of EV boat charging stations.
"Beyond capital, the partnership reflects accelerating industry alignment around electrification, bringing together startup-driven innovation with deep operational expertise in shipping, ports and fleet management," Pyxis said.
