NYK supports greentech startups

Halifax, Canada - November 9, 2017 - The NYK Terra container ship departs Halifax harbour after being assisted by the crew of the Atlantic Oak tugboat while navigating the harbour's narrows.

NYK has signed an agreement to invest in the Marunouchi Climate Tech Growth Fund, a new investment fund that will finance and grow climate tech startups contributing to decarbonisation.

Financing will occur through Marunouchi Innovation Partners Co. Ltd. (MIP), which is owned by Mitsubishi Corporation (MC), MUFG Bank, Ltd. (MUBK), and Pavilion Private Equity Co. Ltd. (PPE).

NYK has established a long-term target of net-zero emissions of greenhouse gases (GHG) by 2050 for the NYK Group’s oceangoing businesses.

Further, in its new medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing,” the company sets forth its intention to carry out active up-front investment towards GHG reduction.

Through its participation in the Fund, NYK will seek to implement co-creation with startups introducing new technologies and will aim to achieve decarbonisation of its business.

READ: NYK taps into offshore wind power industry with new CTV vessel

The company has launched its new “NYK GREEN EARTH” brand to emphasize its efforts to create new value initiatives for low carbon and decarbonisation through green businesses.

Earlier this year, NYK ordered its fifth liquefied petroleum gas (LPG) dual-fuel very large LPG/liquefied ammonia gas carrier (VLGC), from Kawasaki Heavy Industries (KHI).

More recently, Nippon Yusen Kabushiki Kaisha (NYK) and joint venture FueLNG completed the first bunkering of an LNG-fuelled pure car and truck carrier (PCTC) in Singapore.

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