MOL PLUS to Invest in Developer of Marine Battery Systems

(Image credit: MOL PLUS)

MOL PLUS announced its intent to invest in Fleetzero Inc., a developer and manufacturer of marine battery systems and EV vessels.

FZ’s mission is to develop carbon-neutral solutions to replace fossil fuels. The company is working to develop marine battery systems that offer high energy density, low cost, and a high level of safety, and developing electric vessels utilizing battery systems. To date, issues of profitability and safety have limited the size and range of electric vessels, but the FZ battery system makes it possible to develop medium- and large-size electric vessels with sufficient range for medium-to-long-distance transport.

MOL PLUS is pleased to participate in this fundraising in the hope that FZ’s initiatives will make a significant contribution to promoting decarbonization through the early conversion of vessels to EVs. MOL PLUS, in cooperation with FZ, will promote the installation of battery systems on MOL Group vessels and, to accelerate social implementation, will engage maritime stakeholders, especially in Asia, to support FZ’s entry into the Japanese market and build partnerships.

MOL PLUS continually works to generate synergetic effects based on startup companies’ innovative ideas and technologies and the MOL Group’s resources through investment in and collaboration with startups, aiming to create new businesses PLUS new value to the ocean shipping industry and society.

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