Tag: <span>Funding</span>

Blue World secures EUR 15m investment for fuel cell development
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Blue World secures EUR 15m investment for fuel cell development

Danish fuel cell developer Blue World Technologies has received a total investment fund of EUR 15 million from Danish growth fund Vaekstfonden and German engine manufacturer DEUTZ. The funding will be used to bring the company’s green fuel cell products and solutions to the global market. Th due diligence process, which began in October, has...

Project to demo autonomous biofouling inspection robots secures grant
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Project to demo autonomous biofouling inspection robots secures grant

Berkeley Marine Robotics (BMR) has been awarded an innovation research grant (SBIR) by the National Science Foundation (NSF) to conduct R&D and field demonstration of an autonomous underwater swarm robotic system. The system will be able to perform rapid automated inspections under ships to assess hull biofouling and detect invasive species. Rising water temperatures from...

PROW Capital launches green shipping fund to accelerate decarbonisation
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PROW Capital launches green shipping fund to accelerate decarbonisation

PROW Capital has announced the launch of the green shipping fund (GSF), a EUR 420 million debt fund that provides credit to shipowners for investments in new and existing vessels or retrofits that demonstrate measurable emissions reductions. The funding of GSF has been structured and arranged in close cooperation with Banco Santander and supported by...

Royston secures government funding for decarbonisation project
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Royston secures government funding for decarbonisation project

Marine engineering and propulsion specialist Royston has secured government funding for a collaborative project to examine the potential of new technologies to reduce the carbon footprint of river ferry services. The move will see the UK-based firm working in local partnership with Newcastle University and ferry operator Nexus to look at ways to decarbonise the...

Swiss tech start-up secures $10m investment to decarbonise shipping
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Swiss tech start-up secures $10m investment to decarbonise shipping

Swiss climate tech start-up Daphne Technology has attracted another round of investors including Shell Ventures, Trafigura, AET, and Saudi Aramco Energy Ventures. The US $10.92 million investment will help the start-up to continue leveraging innovative technology to remove greenhouse gas (GHG) emissions from the combustion gas of any fuel type. Daphne Technology’s plug-and-play solution breaks...

Fuelsave secures €3.4M to boost development of fuel-saving tech
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Fuelsave secures €3.4M to boost development of fuel-saving tech

German green technology developer Fuelsave has won an investment of €3.4 million from Dreamcraft Ventures for its fuel and emissions saving technology, FS Marine+.  FS Marine+ helps owners and operators to reduce fuel consumption of marine diesel-powered engines and auxiliary systems by 10-15 per cent, and emissions of CO2 by 10-15 per cent and nitrogen...

AYRO raises €10.5M to boost development of wingsail technology
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AYRO raises €10.5M to boost development of wingsail technology

AYRO, a start-up that designs and delivers wind propulsion hybrid systems for maritime transport has raised €10.5 million capital from Ocean Zero (USA), Bpifrance (France) and Mer Invest (France). AYRO designs, manufactures and sells Oceanwings, a wingsail technology that has proven to decrease fuel consumption on cargo ships by as much as 45 per cent....

University of Portsmouth wins £1.5M to develop green hydrogen energy system
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University of Portsmouth wins £1.5M to develop green hydrogen energy system

A project led by the University of Portsmouth has been awarded £1.5 million to help develop and demonstrate a green hydrogen energy system within Portsmouth International Port. The Shipping, Hydrogen & Port Ecosystems UK (SHAPE UK) project was named as one of the winning projects of the £23 million Clean Maritime Demonstration Competition, funded by the Department for Transport,...

Yinson receives grant to develop fully electric vessel
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Yinson receives grant to develop fully electric vessel

Yinson, through a consortium participated in by wholly-owned subsidiary Yinson Green Technologies (YGT), has been awarded funding by the Maritime and Port Authority of Singapore (MPA) and Singapore Maritime Institute (SMI) to develop, deploy and commercialise a fully electric cargo vessel with interoperable swappable battery infrastructure solutions. The consortium ‘Goal Zero’, received one of three...

DeepSea Technologies secures EUR 5M funding
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DeepSea Technologies secures EUR 5M funding

DeepSea Technologies has secured EUR 5 million in fresh funding from existing and new investors to further pursue technological and product research, design, and development around shipping’s digitalisation and decarbonisation. The fresh funding will also be invested in accelerating the company’s international commercial expansion, which will focus on Asian markets. The round was led by...

Norway receives $1.75M for GreenVoyage2050
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Norway receives $1.75M for GreenVoyage2050

The IMO-Norway GreenVoyage2050 Project has received 14.5 million NOK (USD 1.75 million) in additional funding to continue assisting developing countries in their efforts to reduce greenhouse gas (GHG) emissions from ships. Phase one of the Project, signed with Norway in 2019, is currently underway and is scheduled to run until May 2022. The additional funding...