Japanese ship finance specialist Anchor Ship Partners has signed a deal to develop commercial opportunities for renewable-energy battery power in regional Japan.
The agreement has been struck with renewable energy startup company PowerX.
Japanese businessman Masahiro Ito established PowerX in 2021 to ship offshore wind farm energy in batteries to the mainland.
Anchor Ship Partners will use its relationship with Japan’s regional banks, which it has developed through ship finance, to work on projects to find a use for the energy.
“Under this partnership, PowerX and Anchor Ship Partners will leverage Anchor Ship Partners’ financial expertise and its extensive network of regional financial institutions in Japan to develop concrete schemes that enhance the deployment and expansion of PowerX’s storage battery products and services,” PowerX said in a statement announcing the deal.
PowerX’s is seeking to develop a network of high-speed electric car charging stations around Japan using its renewable energy battery power.
It is currently working with Imabari Shipbuilding to build the world's first power transfer vessel. The prototype ship — known as the Power Ark — is scheduled for completion in 2025. Work has already begun on building a battery plant in Japan.
The agreement marks another step in the diversification of Anchor Ship Partners from its traditional business in arranging long-term financing for containerships and car carriers for Japanese operators.
It is also now partnering Japan’s NYK Line on a project to build a new cruise ship for delivery in 2025. Anchor is also involved in trying to develop opportunities for businesses in regional Japan to participate in NYK’s cruise ship project.
