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Home > All news > Shipping > MOL has established 'MOL Switch' in the USA, to invest in decarbonization technologies

MOL has established 'MOL Switch' in the USA, to invest in decarbonization technologies

June 1, 2023

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TOKYO: Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has established its wholly indirectly owned new company in the USA, called MOL Switch LLC ('MOL Switch') to invest in startups developing decarbonizing technologies in the energy sector. MOL Switch will invest USD 100 million in total over the next 3 years.

MOL Switch aims to access innovation, build new networks, explore new business opportunities, and expand our human capital by investing in startups developing technologies and business models that help decarbonize our group companies and society.

MOL Switch will invest in the Climate Tech (Note 1) field, including technologies related to next-generation clean energy, carbon removal, and storage batteries.