MOL Switch for decarbonisation
The Japanese shipping company Mitsui O.S.K. Lines (MOL) has drafted a new management plan, "Blue Action 2035", to achieve its target of net zero emissions by 2050, which is one of its main strategies. It has now also a wholly indirectly owned company in USA, called MOL Switch.
MOL Switch will be investing in start-ups to develop decarbonising technologies in the energy sector and climate tech field, including technologies related to next-generation clean energy, carbon removal, and storage batteries.
With an investment plan of USD 100 million in total over the next three years, the company aims to access innovation, build new networks, and explore new business opportunities. (lh)