Itochu invests in Purus Marine

Japan’s Itochu Corporation has decided to make an equity investment in Purus Marine, a recently formed, environmentally focused maritime vessel and infrastructure company.

UK-based Purus Marine owns and manages various environmentally advanced vessels. 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 and port infrastructure as well as other low-carbon maritime infrastructure.

These include vessels in the ammonia and LNG sectors, vessels with a hybrid battery package that support offshore wind power generation, container vessels with a combined carbon capture system/scrubber installed, and ferries with battery hybrid or fully electric packages.

The company has already acquired more than 60 vessels.

In addition, Purus Marine has teamed up with the Dutch Damen Shipyards Group to finance green shipping projects. The partnership will own environmentally-friendly Damen-built vessels which will then be leased to the shipbuilder’s clients. The partnership will invest in a number of sectors, including public transport, offshore wind, and harbour & terminal. Subsequently, this will extend to include inland and short-sea shipping.

At the beginning of this year, the company placed an order with Dutch tech supplier Value Maritime for emissions-reducing Filtree Systems to be installed on newly built containerships.

The systems include Clean Loop System and 30% carbon capture which will be installed on four container vessels that will be operated by BG Freight Line.

Itochu said that it plans to collaborate strategically with Purus Marine in the low-carbon industry, to develop assets that support decarbonization in the Japanese market. This partnership will also involve joint ownership of quality assets that contribute to sustainability. The collaboration is part of Itochu’s medium-term management plan seeking to enhance the company’s contribution to the Sustainable Development Goals (SDGs) through its business activities.