TLDR:
- Mitsui OSK Lines has set up MOL Switch in Silicon Valley to invest in climate tech start-ups.
- They have a $100m budget to invest in companies focusing on hydrogen, carbon removal, and battery technology.
Meet MOL’s climate tech leader in California’s Silicon Valley Venture capital firm MOL Switch is busy investing $100m budget in start-ups that are rethinking energy. Mitsui OSK Lines managing executive officer Tomoaki Ichida heads the company’s Americas operation from Palo Alto. MOL Switch focuses on areas like the hydrogen value chain, carbon removal, and battery technology, making investments in companies like AP Ventures, MCJ Collective, Heirloom Carbon, Core Power, and Starfire Energy.
Before setting up MOL Switch, Tokyo-headquartered MOL decided that venture capital was a way to explore new technologies and pursue opportunities as they aim to invest further upstream and downstream in industries emerging from decarbonization efforts. MOL Switch’s location in Silicon Valley has allowed them to develop relationships with tech innovators and institutions like Stanford University, where they are exploring collaborations in climate tech.
Ichida believes that the technologies they invest in will support MOL’s goal to become a “global social infrastructure company” and contribute to society in the long term. Their investments in companies like Core Power and Heirloom Carbon show their commitment to exploring new solutions for decarbonization in the maritime sector. With a strong focus on climate tech, MOL Switch is working towards creating a sustainable future for shipping and beyond.
