Itochu invests in UK-based low-carbon maritime transportation biz

Japan’s Itochu Corp. has agreed to make an equity investment in UK-based low-carbon maritime transportation and infrastructure business Purus Marine, it said on April 12.

Purus owns and manages various environmentally advanced vessels, and its business purpose is to provide vessels that use various technologies to reduce carbon emissions or achieve zero emissions in vessel operations, and vessels that support offshore wind power generation/port infrastructure and other low-carbon maritime infrastructure.

Purus has acquired a fleet of more than 60 vessels under contract with investment-grade end-users in response to growing needs for decarbonisation in the maritime transportation sector, Itochu said.

Itochu said it will continue to promote strategic collaboration with Purus including the development of low-carbon assets and joint ownership of assets that contribute to decarbonation in the Japanese market.