Japanese shipowner Mitsui OSK Lines is expanding its investment and collaboration business arm MOL Plus with a new team in the UK and is planning a second in Singapore.
The new UK desk, announced by MOL Plus representative Takuya Sakamoto, will be operated by the New Business Project Team members at MOL (Europe Africa), a 100% subsidiary of Mitsui OSK Lines.
Alex Green and Henry Smith have been named as growth managers for the new UK team.
“MOL PLUS will expand the creation of investment and collaborative opportunities and achieve an organisational structure that allows for greater speed and agility through locally based searches of new technologies and new businesses, with a focus on the environment and renewable energy in Europe,” the shipowner said.
This is the first desk for new business arm outside Japan. The Tokyo-headquartered shipowner said MOL Plus also plans to set up global desks in Singapore and other focus areas as it “aims for continued steady growth as a global corporate venture capital fund in the ocean shipping industry.”
MOL Plus was set up in April 2021 with a two-fold aim of investing in early to middle stage start-ups and promoting collaboration across the MOL Group businesses. It has an investment ceiling of JPY 4bn ($29.3m).
The company’s website lists six start-ups and three funds.
The new arm attempts to generate synergies based on the startup companies’ innovative ideas and technologies and MOL Group’s resources with the aim of creating new businesses and adding value to the ocean shipping industry and society, the company said.
