Mitsui Chemicals Makes an Additional Investment in U.S.-Based Personal Rapid Transit Developer Glydways

Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: ICHIMURA Satoshi) today announced that it has made an additional investment in Glydways, Inc. (California, U.S.; Co-CEOs: Mark Seeger, Blake Barber). This investment will advance joint efforts toward the social implementation of next-generation transportation systems, which are intended to help solve societal issues in the mobility sector – such as traffic congestion, transport deserts and CO2 emissions – and create new value.

Founded in 2016, Glydways is a U.S. startup that is developing an on-demand Personal Rapid Transit (PRT) system in which small autonomous electric vehicles travel in platoons on dedicated lanes. By combining a dedicated guideway with small vehicles, the company aims to achieve efficient travel that is less affected by congestion and the need for stops while also keeping infrastructure development costs to a minimum. The company is currently advancing commercialization and demonstrations around the U.S. – including in Atlanta, San Jose and Contra Costa – as well as in the United Arab Emirates, with sights set on the adoption of its next-generation mobility infrastructure throughout society.

Mitsui Chemicals’ VISION 2030 Long-Term Business Plan includes the basic strategies of pursuing business portfolio transformation, building solutions-based business models and bolstering circular economy initiatives. Going forward, the Mitsui Chemicals Group will combine its strengths to further advance its collaborative efforts in this area, both by supporting vehicle development – from the supply of unique materials, auto parts and modules through to small-volume production – and by offering regulatory support and market development assistance to encourage market adoption in Japan and the broader Asia region.

Overview of Glydways

Company: Glydways, Inc.

Location: South San Francisco, California, U.S.

Co-CEOs: Mark Seeger、Blake Barber

Established: 2016

Business: Development of a personal rapid transit (PRT) system

URL https://www.glydways.com/