MOL invests in US developer of e-fuels

Japanese shipping major Mitsui O.S.K. Lines (MOL) has invested in California-based Twelve Benefit Corporation, a company developing synthetic fuels (e-fuels) and chemicals, contributing to the global expansion of clean fuels.

Twelve raised an additional $83 million this February, following the momentum of its $645 million funding announcement last fall.

Twelve is backed by investments from MOL Switch, a US-based subsidiary of MOL formed to invest in decarbonization technologies, which invested in Twelve in July 2024.

In addition, Mitsui & Co., Development Bank of Japan, Advantage Partners, and Toppan Global Venture Partners have also invested in Twelve.

E-fuels are liquid fuels produced from hydrogen and CO, which can be produced from renewable electricity, CO2, and water.

As explained, Twelve’s E-Marine and E-Jet sustainable aviation fuel (SAF) are drop-in fuels that can be used directly in existing infrastructure wit