Investing in Clean Energy: MOL’s Partnership with Twelve Benefit Corporation

Japanese shipping major Mitsui O.S.K. Lines (MOL) continues to pave the way for a sustainable future by investing in California-based Twelve Benefit Corporation, a leading developer of synthetic fuels (e-fuels) and chemicals. This strategic partnership signifies MOL’s commitment to global expansion and the promotion of clean energy solutions.

Twelve Benefit Corporation recently secured an additional $83 million in funding, building on the success of its $645 million funding round last fall. The company’s innovative approach to producing e-fuels has garnered support from key investors, including MOL Switch, a subsidiary of MOL dedicated to investing in decarbonization technologies.

Joining MOL in supporting Twelve are prominent organizations such as Mitsui & Co., Development Bank of Japan, Advantage Partners, and Toppan Global Venture Partners. This collaborative effort highlights the industry-wide recognition of e-fuels as a crucial component in reducing carbon emissions.

The Promise of E-Fuels

E-fuels are liquid fuels derived from hydrogen and CO2, synthesized using renewable electricity, CO2, and water. Twelve’s E-Marine and E-Jet sustainable aviation fuels (SAF) offer a sustainable alternative to traditional fossil-based fuels, boasting up to 90% lower lifecycle emissions.

These e-fuels are poised to revolutionize not only the shipping and aviation sectors but also various industries reliant on carbon-intensive fuels. With their potential to significantly reduce greenhouse gas emissions, e-fuels represent a vital step towards achieving decarbonization goals.

Carbon Transformation Technology

Twelve Benefit Corporation has developed a cutting-edge carbon transformation technology that converts CO2 into fuels, chemicals, and materials through CO2 electrolysis. The company’s upcoming commercial demonstration plant in Moses Lake, Washington, USA, will showcase the production of E-Jet SAF and E-Naphtha products.

Key partnerships with industry leaders such as Alaska Airlines, Microsoft, International Airlines Group, and Virgin Voyages underscore the growing demand for sustainable aviation and marine fuels. These collaborations demonstrate the industry’s collective efforts to embrace cleaner energy alternatives.

Driving Decarbonization Efforts

In line with its commitment to sustainability, MOL’s investment in Twelve Benefit Corporation aligns with its broader strategy to reduce carbon emissions. The company’s previous investment in e-fuels specialist HIF Global underscores its dedication to fostering a robust e-fuel and CO2 supply chain.

As the world transitions towards a greener future, partnerships like the one between MOL and Twelve are instrumental in accelerating the adoption of clean energy solutions. By investing in innovative technologies and promoting sustainable practices, these industry leaders are shaping a more environmentally conscious and resilient future.