MOL PLUS Invests in Pyxis Maritime’s Electric Fleet
MOL PLUS, the investment division of Japan’s Mitsui OSK Lines, has made a strategic investment in Singapore-based Pyxis Maritime, a company specializing in electric vessels. This partnership aims to enhance the development of electric harbor craft and establish charging infrastructure, focusing on commercial deployment rather than just pilot projects. The collaboration comes as Singapore prepares to enforce stringent emissions regulations for new vessels starting in 2030, requiring them to be fully electric or compatible with alternative fuels.
Strategic Partnership with a Vision for Sustainability
Founded in 2022, Pyxis Maritime focuses on the construction of electric workboats and passenger vessels while also managing charging infrastructure and offering vessel and crew management software. The company’s initiative aligns with Singapore’s upcoming regulations, which mandate that all new harbor vessels entering service from 2030 must either be fully electric, run on B100 biofuel, or be compatible with net-zero fuels such as hydrogen. This regulatory shift presents a unique opportunity for innovation in the maritime sector, pushing both companies to pioneer sustainable solutions.
MOL PLUS has expressed its commitment to accelerating the commercialization of electric vessels alongside charging networks. The investment is designed to leverage Pyxis’ advanced technology and the operational expertise of the wider MOL Group. In November, MOL (Asia Oceania) and Pyxis signed a heads of agreement to explore an integrated business model that combines electric vessels with charging infrastructure in Singapore. This partnership signifies a crucial step forward in enhancing the sustainability and efficiency of marine operations.
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Currently, Pyxis Maritime’s portfolio includes the Pyxis One, a fully electric vessel tailored for daily commercial harbor operations, and the Pyxis R, an all-electric passenger craft designed for use in inland waterways and urban rivers. MOL PLUS intends to play an active role beyond mere financial backing, aiding in business development and fostering collaboration across shipping, ports, and fleet management sectors. As the industry shifts towards electrification, this partnership is poised to make significant strides in advancing regional port operations.
