- £2.3 million grant to support the development of trailblazing maritime technology
- government to work with the investment community to help finance zero-emission shipping projects
- latest step in Department for Transport’s Clean Maritime Plan
Britain is set to become a global hub for low-carbon maritime technology, thanks to new government funding. Maritime Minister Nusrat Ghani has today (10 September 2019) committed a further £1 million to fund new shipping technology projects through MarRI-UK, a consortium of leading maritime organisations.
MarRI-UK has already allocated £1 million to support early stage clean maritime projects. Today government is announcing a further £1 million for technology and innovation projects, boosting the wealth of maritime knowledge that exists in the UK to build an industry fit for the future.
Maritime Minister Nusrat Ghani said:
I am delighted to announce this fantastic funding for pioneering research, bringing the UK ever closer to zero emission shipping.
The UK continues to lead the way on the global stage, playing a key role in reaching an international agreement to reduce greenhouse gas emissions from shipping by at least 50% in 2050.
This latest investment will help ensure our great maritime nation remains sustainable years into the future.
The government is also announcing a push to bring financiers and budding entrepreneurs together to help innovation flourish in the sector.
The new Green Finance for Maritime conference in Summer 2020 will bring together representatives from the government, financial services and technology sector to build relationships and broker new deals.
This will help cement the UK’s position as a global hub for the provision of green finance and move the UK even further towards zero-emission shipping.