Government invests £60 million into clean maritime solutions
The government has announced a new £60 million funding initiative to be distributed to innovative companies nationwide developing new clean maritime technology.
Companies around the UK will benefit from the funding, generating highly skilled jobs across the nation and positioning the UK as a world leader in green solutions.
The funding was announced by Transport Secretary, Mark Harper, when he visited Artemis Technologies in Belfast to see examples of the technology in action.
Using technologies adapted from the worlds of high-performance yacht racing, motorsports and aerospace, Artemis is developing vessels that effectively ‘fly’ above the water surface. The vessels produce zero emissions when foiling and offer energy savings of up to 90% resulting in significantly lower operating and maintenance costs.
Artemis Technologies will now use the funding to help move their invention to the seas on a commercial scale.
Transport Secretary Mark Harper said:
“Our maritime sector imports 95% of goods into the UK and contributes £116 billion to our economy – more than both aviation and rail combined.
“With growing the economy one of the Government’s top priorities, we must continue our efforts to ensure the UK remains a pioneer in cutting-edge clean maritime solutions.
"The funding we’re awarding today will help to do just that, bringing emission-free concepts to life and fuelling innovation.”
The funding comes from the third round of the Government’s Clean Maritime Demonstration Competition (CMDC3), which focuses on developing a range of clean maritime technologies including hydrogen, ammonia, electric and wind power.
During the two-year investment period, successful companies will be required to demonstrate that their projects will work in the real world, helping them to progress towards becoming an everyday reality.
Other companies and projects receiving funding include a project led by Collins River Enterprises Limited to build and test a brand new fully electric ferry on the River Thames between Canary Wharf and Rotherhithe, building on research funded through the first round of the CMDC.
Another project led by AceOn Battery Solar Technology Ltd will develop hydrogen-powered vessels to transfer crew to wind farms off the northeast coast of England from the Port of Blyth.
WingTek are also receiving CMDC3 funding to develop and demonstrate two full-sized prototypes of wind-assisted ships with high tech sails, which will reduce the amount of fuel used by the vessels as well as the emissions they produce.
Sarah Treseder, Chief executive officer of the UK Chamber of Shipping added:
“Congratulations to all the successful bids, which cover a wide range of technologies and aspects of shipping.
“The UK Chamber of Shipping is committed to net zero by 2050. This funding is an important milestone in ensuring we continue to work together to achieve this important target and will help us complete the journey from theory to reality for zero emission shipping.”
This funding comes from the wider £206 million UK Shipping Office for Reducing Emissions (UK SHORE) scheme, announced in March 2022.
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