Mitsui O.S.K. Lines set up MOL Switch, a wholly owned US company that will invest a total of $100 million over three years in startups and venture funds working on decarbonization. Target areas include next-generation clean energy and fuels such as hydrogen, carbon removal and storage batteries. What it looks for Besides energy startups, MOL Switch also looks at technologies and business models that could cut emissions inside the MOL group itself. MOL wants access to new ideas, networks, new business and staff experience, and to pair startups' ideas with its own resources. The plan behind it The move supports MOL's 'BLUE ACTION 2035' management plan and its goal of net-zero group emissions by 2050.
