Contributing to the Spread and Expansion of Clean Energy

Mitsui O.S.K. Lines,  announced that Twelve Benefit Corporation , the carbon transformation company developing synthetic fuelsand chemicals, raised an additional $83 million USD in February, following the momentum of their $645 million funding announcement last fall. Twelve is backed by investments from MOL Switch LLC , MOL’s wholly owned subsidiary formed to invest in decarbonization technologies, which invested in Twelve in July 2024. In addition, MITSUI & CO., LTD., Development Bank of Japan Inc., Advantage Partners Pte. Ltd. and TGVP  have also invested in Twelve.

E-fuels are liquid fuels produced from hydrogen and CO, which can be produced from renewable electricity, CO₂, and water. Twelve’s E-Jet^® sustainable aviation fuel (SAF) and E-Marine^™ are drop-in fuel that can be used directly in existing infrastructure with up to 90% lower lifecycle emissions compared to fossil-based fuels. E-fuels are expected to be a clean energy source that will contribute to the decarbonization of not only the shipping industry, but also aviation, mobility, and other industries.
Twelve has developed a proprietary carbon transformation technology that turns CO₂ into fuels, chemicals, and materials via CO₂ electrolysis. The first commercial demonstration plant for their E-Jet^® SAF and E-Naphtha^™ product is expected to come online later this year in Moses Lake, Washington, USA.
The company also has offtake agreements with Alaska Airlines, Microsoft, and International Airlines Group for aviation fuel, and a partnership with Virgin Voyages for marine fuel.

The MOL Group aims to become a social infrastructure company under the “BLUE ACTION 2035” management plan, and plans to strengthen non-shipping areas and proactively invest in these fields. Furthermore, the group has set the target of achieving net zero GHG emissions for the entire Group by 2050 in the “MOL Group Environmental Vision 2.2.” Following its investment in HIF Global, which is promoting a project to produce and transport synthetic fuels, the MOL Group aims to contribute to the decarbonization of society as a whole by contributing to spread and expansion of clean energy, including synthetic fuels, through its investment participation in Twelve.