NYK Line forms strategic business alliance with Power X

Japanese shipping company, Nippon Yusen Kaisha (NYK Line), has signed a memorandum of understanding with compatriot Power X, Inc. to set forth the terms of a strategic business alliance for the development and testing of Power X’s marine energy storage solutions (ESS), the Power ARK power transfer vessels, as well as electric vessels.

The strategic partnership will center on the development of the marine ESS and management system for the Power ARK, the field testing of the prototype ship, and other initiatives to realize the Power ARK and the electric vessel project.

Power X and NYK will focus on the collaborative efforts to develop the marine ESS prototype. The two companies will also work on the pilot-testing and the full-scale implementation of the technology.

NYK and Power X will also collaborate on the development of the power transfer vessel prototype, and the electric vessel prototype; the development on marine vessel electrification; and the field testing and a full-scale implementation of the power transfer vessel and the electric vessel.

”Marine batteries are the key to solving the obstacles facing renewable energy adoption and expansion,” NYK Senior Managing Executive Officer Tomoyuki Koyama said.

”By bringing much-needed innovation to zero-emission vessels and offshore wind energy, PowerX takes a big leap beyond conventional battery storage. Through this partnership, NYK will strive to resolve the many challenges to the shipping industry, such as the shift to zero-emission vessels and automation, as well as the promotion and the adoption of renewable energy.”

By leveraging Power X’s strength in innovation and NYK’s expertise in shipping, the two companies aim to create a renewable energy breakthrough in the offshore/onshore power industry and the shipping industry, PowerX said.

Through this alliance, both companies will work together to promote zero-emission vessels and accelerate the adoption of offshore wind power.

”We are pleased to announce our strategic alliance with NYK, one of Japan’s leading shipping companies. Through this partnership with NYK, PowerX will continue our efforts to develop marine ESS and electric vessels in the hope of contributing to carbon neutrality,” Power X CEO & Representative Director Masahiro Ito said.

Power ARK is a trimaran vessel designed specifically to transfer renewable energy generated at offshore wind farms.

In December 2021, PowerX entered into a capital and business alliance with Imabari Shipbuilding to jointly develop the prototype Power Ark 100 – a 100 TEU vessel carrying 100 grid batteries.

PowerX also plans to build a gigawatt-scale battery assembly facility in Japan to mass-produce batteries for the Power Transfer Vessels. The factory’s annual production capacity will achieve 1 GWh by 2024, and will eventually reach 5 GWh by 2028, PowerX said.

Apart from the Power ARK 100, PowerX is also developing the Power ARK 1000 and the Power ARK 3000 models.