MHI Group to Participate in Establishment of The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping -- Joint R&D Institute to Promote Decarbonization of Global Shipping Industry --

Tokyo, June 25, 2020 - Mitsubishi Heavy Industries, Ltd. (MHI) will participate as one of partners in the establishment of The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, a research and development institute to promote decarbonization in the shipping industry being created at the suggestion of A.P. Møller - Mærsk A/S, a global leader in integrated transport and logistics. The Center will be headquartered in Copenhagen, Denmark's capital city, with MHI and six other business corporations and institutions participating in its founding. The Center will mainly target the development of new fuels and technologies for achieving zero carbon in the shipping industry, which currently accounts for roughly 3% of the world's carbon emissions. MHI Group will cooperate primarily through provision of human resources.

Besides A.P. Møller - Mærsk and MHI, participants in the Center's establishment include: the American Bureau of Shipping (ABS); Cargill, Incorporated, a major American producer of grain and other foodstuffs; MAN Energy Solutions, a longstanding manufacturer of large-bore diesel engines; NYK Line; and Siemens Energy. The Center will be operated as a nonprofit organization (NPO) funded by the A.P. Møller Foundation, a charitable foundation commemorating A.P. Møller - Mærsk's founder, Mærsk Mc-Kinney Møller. Bo Cerup-Simonsen, former Vice President and Head of Mærsk Maritime Technology at A.P. Møller - Mærsk, will serve as the Center's CEO. The Center will undertake development of carbon-neutral fuels and new propulsion technologies in collaboration with global partners gleaned from the industrial and academic sectors, related authorities, etc.

Initially the Center will operate with a staff numbering approximately 100, including employees assigned from the founding partners as well as the Center's own hires. In addition to experts in energy, fuels and shipping technologies, staff will also include personnel in charge of regulatory issues, marketing, etc. The Center's activities will focus on achieving the target announced by the shipping industry to reduce its greenhouse gas emissions substantially by 2050.

Through initiatives such as participation in The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, MHI Group will strengthen its efforts to further reduce greenhouse gases on global scale. Leveraging its businesses in ship engineering and marine machinery and systems, the Company will contribute to the further development of marine logistics and reduction of environmental loads, an issue of global concern.