Japanese ship finance specialist Anchor Ship Partners has signed a deal to develop commercial opportunities for renewable-energy battery power in regional Japan.

The agreement has been struck with renewable energy startup company PowerX.

Japanese businessman Masahiro Ito established PowerX in 2021 to ship offshore wind farm energy in batteries to the mainland.

Anchor Ship Partners will use its relationship with Japan’s regional banks, which it has developed through ship finance, to work on projects to find a use for the energy.