
Kinetics and MOL partner to develop world's first floating data centre
Kinetics, the energy transition initiative of Türkiye's floating power provider Karpowership, signed a memorandum of understanding (MoU) with Japanese Mitsui O.S.K. Lines Ltd. (MOL) to jointly develop the world's first integrated next-generation floating data center platform, the companies said on Monday.
According to the statement, the project aims to address the rapidly growing global demand for digital infrastructure.
'This partnership combines Kinetics' expertise in mobile energy infrastructure with MOL's extensive maritime and offshore logistics capabilities to address the surging global demand for digital infrastructure,' MOL said in a press release.
Under the memorandum, the two companies will collaborate on the design, construction and deployment of a state-of-the-art data center hosted on a retrofitted vessel.
The facility will be powered by uninterrupted and dedicated energy from various flexible sources, including powerships developed by Karpowership. Depending on the project location and customer needs, onshore grids, land-based solar power plants, offshore wind energy or other energy generation solutions can also be integrated.
Karpowership, a pioneer in integrated floating power solutions, with over 10,000 megawatts (MW) of installed capacity in 19 countries and more than 20 years of operational experience, will contribute to the project.
MOL, headquartered in Tokyo, is one of the leading shipping companies in the world.
Following feasibility studies and ongoing technical developments, the first floating data center project is targeted to be commissioned in 2027. The floating platform will offer a scalable, portable and rapidly deployable solution to overcome challenges faced by traditional land-based data centers, such as energy shortages, land limitations and delays in permitting processes.
In the statement, Kinetics CEO Mehmet Katmer emphasized that this collaboration is a significant step toward providing solutions to the global energy sector 'This project represents a significant step toward our vision at Kinetics: delivering innovative, efficient and sustainable infrastructure solutions that meet the energy needs of today and tomorrow,' Katmer said. 'By pairing mobile power generation with floating data infrastructure, we are addressing critical market bottlenecks while enabling faster, cleaner and more flexible digital capacity expansion.' Tomoaki Ichida, managing executive Officer of MOL, said: 'This MOU represents an important step forward in leveraging the MOL Group's assets and extensive expertise in ship operations to rapidly build digital infrastructure while minimizing environmental impact. Moving forward, we will continue to expand a diverse range of social infrastructure businesses centered on the shipping industry. Through the advancement of our technologies and services, we are committed to proactively responding to society's evolving needs.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Qatar Tribune
2 days ago
- Qatar Tribune
Intel gets $2 bn lifeline in form of SoftBank equity investment
Agencies Intel will receive a $2 billion capital injection from Japanese technology giant SoftBank Group, marking a major show of confidence in the struggling U.S. chipmaker as it works through a major turnaround. The equity investment, announced by the two companies on Monday, is a lifeline for the once-iconic U.S. chipmaker which has struggled to compete after years of management blunders that left it with virtually no foothold in the booming artificial intelligence chip industry. It will make SoftBank a top-10 shareholder of Intel and add to the Japanese tech investor's ambitious bet on artificial intelligence that includes the $500 billion Stargate U.S. data center project. 'SoftBank's investment helps, but it is not what is going to move the dial for Intel,' said Amir Anvarzadeh, Japan equity strategist at Asymmetric Advisors. 'It's more to maintain this very good relationship he has with Trump,' he said, referring to SoftBank CEO Masayoshi Son. The deal follows media reports last week that the U.S. government may buy a stake in Intel, after a meeting between new CEO Lip-Bu Tan and President Donald Trump after the latter called for the chief executive to resign over his ties to Chinese firms. But after meeting with him, Trump relented, saying Tan had an 'amazing story.' It also comes as Tokyo pledged a $550 billion investment package into the U.S. last month as part of a trade deal with Washington. The Intel investment is not currently part of that package, a Japanese government source with knowledge of the negotiations said. SoftBank's decision to invest in Intel is not connected to Trump, a person familiar with the matter told Reuters. 'Semiconductors are the foundation of every industry,' Son said in a statement. 'This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role.' SoftBank will pay $23 per Intel share, a slight discount to Monday's closing price of $23.66. The investment will come via a primary issuance of common stock by Intel, and, based on the U.S. company's market capitalization at close of trading on Monday, represent an equity stake of just under 2%, an Intel spokesperson said. The Japanese company would become the sixth largest investor in Intel, according to LSEG shares closed down 4% on Tuesday following the announcement, while Intel surged 5.6% in after-market hours trading. The Japanese company will only take an equity stake in Intel and will neither seek a board seat nor commit to buying Intel's chips, the person familiar with the matter said. SoftBank posted its first profit in four years in the April-June quarter as it raked in gains from its investment portfolios. It is a major shareholder in Arm Holdings, a British semiconductor and software design company. Intel has struggled financially and recorded an annual loss of $18.8 billion in 2024, its first such loss since 1986, as it grapples with multiple challenges. Its longtime rival AMD has been gaining share in Intel's mainstay personal computer and server semiconductor markets, while its ambitious and costly plan for a chip contracting business that rivals that of Taiwan's TSMC has failed to take company is now considering a significant change to its contract chip manufacturing business to win major customers, Reuters reported last month, in a potentially expensive shift from its previous strategies. 'Intel's dual role as designer and manufacturer/fabricator uniquely positions it as potentially the best platform in the U.S. to compete with TSMC,' said Charu Chanana, chief investment strategist at News reported earlier on Monday that the U.S. government is in talks to take a 10% stake in Intel. Tan, a chip industry veteran who also served as a SoftBank board member before quitting in 2022, thanked Son for 'the confidence he has placed in Intel with this investment.' The Intel funding is the latest in the Japanese company's run of mammoth investment announcements in 2025, which include committing $30 billion to ChatGPT maker OpenAI as well as leading the financing for Stargate.


Qatar Tribune
3 days ago
- Qatar Tribune
Germany aims to strengthen Japan ties amid China concerns
dpa Tokyo Germany and Japan are significantly expanding their partnership, German Foreign Minister Johann Wadephul said on Monday, citing shared challenges that include an increasingly assertive China. 'By working together, we can tackle the major challenges facing both our countries,' Wadephul said during a meeting with his Japanese counterpart Takeshi Iwaya in Tokyo. 'Freedom, security, and prosperity in Europe and the Indo-Pacific are closely intertwined,' he added. Wadephul highlighted China's support for Russia's war effort, noting: 'Without it, the attack on Ukraine would not be possible.' He said Beijing is Russia's largest supplier of dual-use goods, which can be used for both civilian and military purposes, and one of its main oil and gas customers. The German minister also warned that China threatens to alter the status quo in the South and East China Seas and the Taiwan Strait, saying any escalation could have serious consequences for global security and the world economy. Wadephul drew a parallel between Germany and Japan on defence spending. Germany has committed to spending 5% of its economic output on security and defence, while Japan decided in 2022 to double its defence budget, demonstrating early foresight, the German minister said. The two countries plan to hold further consultations this fall, including cooperation in cyberdefence. Iwaya emphasized the growing importance of cooperation between Germany and Japan. 'The international order faces significant challenges. Collaboration between Japan and Germany, as G7 members and leading democracies in Asia and Europe, is increasingly important,' he said.


Qatar Tribune
4 days ago
- Qatar Tribune
Japan posts modest growth despite painful US tariffs
Agencies Japan eked out modest growth in the second quarter despite painful US tariffs, official data showed Friday, in welcome news to embattled Prime Minister Shigeru Ishiba. A preliminary estimate showed gross domestic product (GDP) in the world's number four economy growing 0.3 percent in the three months to June, above market forecasts of 0.1 percent. The cabinet office data also saw a revision upwards for its reading for the previous quarter to show an expansion of 0.1 percent. On an annualized basis, GDP grew 1.0 percent, beating market forecasts of 0.4 percent and following 0.6 percent in the last quarter. The previous estimate was for a contraction and, without the revision, a second negative reading would have put Japan in technical recession. The new figures are a fillip for Ishiba, whose future has been uncertain since the disastrous upper house elections in July. With voters angry about the cost of living, his coalition lost its majority months after it suffered a similar catastrophe in the lower chamber. An opinion poll this week by broadcaster NHK suggested, however, that more people want Ishiba to stay than to quit. There is also no obvious successor to the 68-year-old leader, who took office in October, while the opposition is likely too fragmented to form an alternative government. The economic growth came despite tariffs imposed by US President Donald Trump being applied to Japanese imports into the United States. Causing particular pain are levies of 27.5 percent on Japanese cars, a sector that accounts for eight percent of all jobs in Japan. Japan last month secured a trade deal that cut a threatened 25 percent 'reciprocal' tariffs on other Japanese goods to 15 percent. The rate on Japanese cars was also cut to 15 percent, although to Tokyo's consternation, this has yet to take effect. Toyota this month cut its annual net income forecast by 14 percent, projecting a $9.5 billion hit from the tariffs this year. First-quarter profits halved at Honda, but the firm lowered its forecast for the tariff impact, as did electronics giant Sony. Economist Yoshiki Shinke at Dai-ichi Life Research Institute said that Japan's economy still faces 'many downside risks', with exports the major concern. Automakers 'are expected to rethink their pricing strategies, and there is a possibility they may move to raise prices in the future,' Shinke said in a note. 'In such a case, sales volumes in the US are likely to decrease, and export volumes could also be pressured downward,' Shinke said before the release of the data. — AFP Trump's administration, meanwhile, is seen as pressuring the Bank of Japan (BoJ) to hike interest rates, which could put a brake on growth. The BoJ has been reluctant to raise borrowing costs, seeing above-target inflation as caused by temporary factors. 'The Japanese have an inflation problem,' US Treasury Secretary Scott Bessent told Bloomberg TV after speaking to the BoJ governor. 'They are behind the curve, so they are going to be hiking,' Bessent said.