MOL and Kumejima Town ink ocean thermal energy conversion and CO2 capture deals

They aim to commence operations of the ocean thermal energy project by 2031.

Mitsui O.S.K. Lines, Ltd. (MOL) has signed a comprehensive partnership agreement with Kumejima Town in Okinawa Prefecture to collaborate on various projects, including renewable energy and decarbonisation, amongst others.

“MOL will advance business initiatives aimed at addressing regional challenges and promoting industrial development, with a particular focus on expanding ocean thermal energy conversion (OTEC) and other businesses,” the company said in a statement.

Kumejima Town has established the "Kumejima Model,” a regional circular symbiosis zone that utilises 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.

MOL aims to fuel its collaboration with Kumejiman through the world's first OTEC commercialisation. It aims to begin operations within fiscal year 2031.

The company also aims to begin considering small-scale demonstration tests for DOC, a CO2 capture initiative for decarbonisation, as an extension of the Kumejima Model to surrounding industries.

“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 centred on deep-sea water, and expand its business into associated industries,” the statement read.