MOL PLUS, the investment arm of Japanese shipping giant Mitsui OSK Lines (MOL), has taken a stake in Singapore-based electric vessel developer Pyxis Maritime.

The investment targets both electric harbour craft and the charging stations, with a focus on commercial roll-out rather than pilot projects.

Pyxis develops and builds electric workboats and passenger vessels, while also operating charging infrastructure and providing vessel and crewmanagement software.

The start-up was founded in 2022 and is based in Singapore, where new harbour craft will face strict emissions rules from 2030. Under Singapore’s regulations, all new harbour vessels entering service from that year must be fully electric, capable of running on B100 biofuel, or compatible with net-zero fuels such as hydrogen.

MOL PLUS said the investment is aimed at accelerating the commercialisation of electric vessels alongside charging networks, drawing on both Pyxis’ technology and the wider MOL Group’s operational experience.

The two companies are already working together. In November, MOL (Asia Oceania) signed a heads of agreement with Pyxis to study an integrated business model covering electric vessels and charging infrastructure in Singapore.

Pyxis’ current portfolio includes Pyxis One, a fully electric harbour and port operations vessel designed for daily commercial use, and Pyxis R, an all-electric passenger craft for inland waterways and urban rivers.

MOL PLUS said its role will go beyond capital, supporting business development and collaboration across shipping, ports and fleet management as electrification gathers pace in regional port operations.