Wednesday, May 22, 2024

UK government invests £77 million in green shipping tech

A £77 million government investment in clean maritime technology could see new, zero-emission ferries, cruises, and cargo ships sailing in UK waters by 2025.

It is the first time in history that the British government is willing to support innovative green maritime tech with this level of funding. This multi-million-pound investment will help the latest tech ideas become a reality – identifying which projects will have a long-term impact in reducing emissions.

Successful projects must show they could use this money to work with major UK ports and operators to launch a zero-emission vessel by 2025 at the latest.

The new Zero Emission Vessels and Infrastructure (ZEVI) competition will see innovative companies apply for the funding, which must be used to decarbonize technology both on board and shoreside. The competition will be overseen by Innovate UK, which has a record of delivering similar competitions across the government successfully.

“This latest £77 million investment in clean maritime innovation is another major milestone in the delivery of the wider UK Shipping Office for Reducing Emissions (UK SHORE) program to accelerate the transition to net zero,” Innovate UK Executive Director for Net Zero Mike Biddle said. “Innovate UK will work closely with the Department for Transport in delivering the Zero Emission Vessel and Infrastructure competition, resulting in multi-year real-world demonstrations of clean maritime technologies around the UK.”

In addition to that, the British government is also calling on universities across the UK to join forces to establish a new Clean Maritime Research Hub. The hub will benefit from separate £7.4 million funding.

The hub will deliver research in the fundamental science behind clean maritime technologies, building evidence and expertise for the maritime sector. It will also support skills development across the industry and generate knowledge for maritime decision-makers.

The ZEVI fund and Clean Maritime Research Hub are part of the UK SHORE program, launched in March 2022 with £206 million in funding. UK SHORE aims to tackle shipping emissions and advance the UK towards a sustainable shipping future.