Mitsui O.S.K. Lines, Ltd. (MOL) and Singapore-based maritime electrification startup Pyxis Maritime Pte Ltd. (Pyxis) on Wednesday (1 November) signed a Memorandum of Understanding (MoU) to collaborate on the joint development and marketing of the electric vessels (EVs) business in the Singapore region, as well as marketing for the expansion of EVs introduction in Japan.
The agreement will harness MOL’s maritime expertise, market networks and industry knowledge as a shipping company while leveraging on Pyxis’ agility and fast execution as start-up company.
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.
“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.
“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.”
“We are honoured to partner with MOL, a global leader in the shipping industry,” replied Tommy Phun, Pyxis Founder.
“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.”
Manifold Times in August reported Pyxis entering a MOU with fuel cell components manufacturer Sydrogen Energy to jointly execute a Proof of Concept (PoC) study in the deployment of hydrogen fuel cell solutions.
