Pyxis Raises $3.4M in Seed Funding to Electrify Maritime Vessels

Singapore-headquartered maritime electrification exertion startup Pyxis has secured S$4.5 cardinal (US$3.4 million) successful a effect backing circular led by Motion Ventures and Shift4Good.

A Singapore-based startup Pyxis, which has embarked connected a travel to revolutionise the maritime manufacture by harnessing electricity, has raised an equivalent of US$3.4 cardinal successful a effect backing circular co-led by Motion Ventures and Shift4Good, with the information of Seeds Capital, MarImpact, ShipsFocus, Tian San Shipping, Kim Ann Investments, and LCC Resources.

The startup aims to alteration the dependence of the maritime manufacture connected fossil fuels arsenic good arsenic little planetary c dioxide emissions by electrifying coastal vessels.

Maritime electrification is an important but challenging task for the industry. New artillery systems tin prolong the region ships tin go, trim emissions, and little attraction burdens. In addition, the instantaneous vigor of electric-powered vessels boosts vessel performance.

Electric-powered vessels often usage renewable vigor sources, importantly reducing the biology interaction of maritime proscription compared to accepted fossil fuel-powered engines. Electric propulsion systems tin besides beryllium much energy-efficient than accepted engines, enabling precise power implicit powerfulness organisation and usage, optimizing vigor depletion and reducing waste.

The activities of Pyxis and akin companies are particularly important for Singapore, which has the busiest transhipment larboard worldwide, transporting 80% of the world’s cargo to implicit 600 ports globally.

In the Committee of Supply statement connected 3 March 2023, the city-state Parliament outlined initiatives to necessitate harbour trade successful the maritime assemblage to execute net-zero emissions by 2050. The Maritime and Port Authority (MPA) is actively partnering with industry, fiscal institutions, harbour trade operators and manufacturers to assistance little the outgo of adoption of sustainable maritime technologies and enactment aboriginal adopters.

The startup is going to usage freshly raised funds to accelerate its electrification tech improvement and grow the accumulation of its electrical harbour crafts.

The institution precocious partnered with Mitsui O.S.K Lines to nutrient and beforehand electrical vessels successful Singapore and Japan. It has besides entered into a non-binding Memorandum of Understanding (MOU) with substance compartment components shaper Sydrogen Energy to jointly execute a Proof of Concept (PoC) survey successful the deployment of hydrogen substance compartment solutions.

The contented of outdated and fossil fuel-reliant maritime infrastructure is presently addressed by galore organisations and nationalist companies. For instance, Amazon has precocious collaborated with shipping and logistics institution Maersk to transport goods connected a zero-carbon cargo vessel utilizing methanol arsenic a powerfulness source.