New Wave Media

September 11, 2019

UK Support Low-Carbon Maritime Technology

Image: Department for Transport, UK

Image: Department for Transport, UK

Britain is set to become a global hub for low-carbon maritime technology, thanks to new government funding.

Maritime Minister Nusrat Ghani has committed a further GBP1 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," said a government release.

Nusrat Ghani said: "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.

Sarah Kenny, Vice Chair of Maritime UK said: MarRI-UK is the first collaborative body in the sector that brings together expertise from all parts of the sector. We back decarbonisation by 2050 and by working collaboratively with government, we will achieve this. Already across Britain we’re seeing promising progress: from hybrid ferries to hydrogen fuel, the sector is tackling the challenge head on."

The UK has already taken a proactive role in driving this move in UK waters and is seen globally as a role model in zero-emission shipping.

financial servicesgreenhouse gas emissionsMaritime UK