Promoting Commercialization of Ocean Thermal Energy Conversion and CO₂ Capture Projects

Mitsui O.S.K. Lines, announced that on October 28, it signed a comprehensive partnership agreement with Kumejima Town in Okinawa Prefecture to collaborate on renewable energy, decarbonization, and industrial tourism projects in the region. Leveraging the technologies and expertise of both parties, along with Kumejima Town’s abundant natural resources, MOL will advance business initiatives aimed at addressing regional challenges and promoting industrial development, with a particular focus on expanding ocean thermal energy conversion (and other businesses.

[Summary of the Agreement]

Kumejima Town has established the “Kumejima Model”, a regional circular symbiosis zone that utilizes deep ocean water as a local resource for multiple purposes, including OTEC and fisheries. The town has set a goal of achieving 100% energy self-sufficiency on the island through renewable energy by 2040. In addition, it is working to promote tourism by integrating deep ocean water with natural resources, local specialties, activities, and other regional attractions. Further industrial promotion is anticipated through initiatives such as industrial tourism and decarbonization-focused tourism.

MOL will further strengthen its collaboration with Kumejima Town toward the world’s first OTEC commercialization ^{(Note 3)}, aiming to begin operations within fiscal year 2031. Additionally, as an extension of the Kumejima Model to surrounding industries, it will begin considering small-scale demonstration tests for DOC, a CO₂ capture initiative for decarbonization. Furthermore, it will address labor shortages resulting from the island’s declining population by leveraging its extensive experience and expertise in global human resources development, cultivated over years of training foreign seafarers. Through collaboration with its group companies, MOL will promote the tourism industry, expand the Kumejima Model, and contribute to regional revitalization.

The MOL Group has positioned environmental strategy as one of its key strategies in the management plan “BLUE ACTION 2035,” and aims to achieve net-zero greenhouse gas (GHG) emissions by 2050 under the “MOL Group Environmental Vision 2.2.”
Through strengthened collaboration under this agreement, as a marine-based social infrastructure company, MOL aims to establish renewable energy methods using OTEC, build regional industrial promotion models centered on deep-sea water, and expand its business into associated industries.