Singapore-based maritime electrification pioneer Pyxis has successfully secured US$10 million in the first close of its growth funding round. This capital injection is earmarked for scaling its electric vessel production, enhancing its energy management platform, and expanding its marine charging network across Asia. The funding marks a significant milestone for the company as it aims to decarbonize the region's coastal and harbour craft operations, signaling strong market confidence in its mission.
Strategic Investment Fuels Expansion
The funding round attracted a consortium of prominent climate-tech and maritime investors, including Shift4Good, Motion Ventures, and MOL PLUS. Support also came from SEEDS, the investment arm of SG Growth Capital, underscoring strong public-private confidence in the company's vision. Additionally, Pyxis secured green debt financing from OCBC to further support its vessel deployment and infrastructure development, creating a robust financial foundation for its ambitious plans.
Powering a Greener Maritime Future
A primary focus for the new capital will be scaling the manufacturing of its electric vessels to fulfill a growing order book of 17 units. The company's proprietary Electra platform provides real-time monitoring and predictive maintenance, which helps operators reduce emissions and operational costs. This integrated hardware and software approach is central to Pyxis's value proposition for a sustainable maritime industry, offering a complete ecosystem solution.
Pyxis is also accelerating the rollout of its charging infrastructure, having already deployed two ultra-fast marine charging locations. The company plans to add more sites, including a powerful 300 kW installation scheduled for early 2026. This network is crucial for enabling efficient operations, allowing vessels to complete multiple sailings daily with minimal downtime and significantly lower carbon footprints compared to traditional craft.
Forging Key Alliances and Regional Growth
To bolster its regional presence, Pyxis has signed a heads of agreement with MOL (Asia Oceania) to explore a potential joint venture. This strategic alliance complements the company's ongoing expansion into key markets like Indonesia, facilitated by a partnership with Utomodeck Group. These collaborations are vital for building a comprehensive coastal electrification ecosystem throughout Southeast Asia and accelerating the adoption of green maritime technology.
Navigating a Changing Regulatory Seascape
The company's growth is well-timed with supportive government policies, such as Singapore's mandate for all new harbour craft to be fully electric or use clean fuels by 2030. This regulatory tailwind creates a clear and urgent market demand for Pyxis's solutions. The move towards electrification is transforming port infrastructure, creating new opportunities for investment in charging hubs and advanced battery energy storage systems.
This successful funding round solidifies Pyxis's position at the forefront of Asia's maritime electrification movement. With strong investor backing, proven technology, and strategic partnerships, the company is well-equipped to lead the transition to cleaner and more efficient coastal transport. The investment not only validates Pyxis's scalable model but also signals a broader acceleration of decarbonization efforts across the region's waters, heralding a new era for the industry.