22.2.2023 | Logistics

£77 million fund available for companies to launch a zero-emission maritime vessel

Government launches new competition to help zero-emission ferries, ships and cargos set sail in UK waters.

A £77 million investment into innovative companies has been promised as part of the Zero Emission Vessels and Infrastructure (ZEVI) competition.

The funding is part of a huge drive to decarbonise the UK’s maritime sector, and successful applicants to the fund will have to demonstrate that they would use money secured to work with major UK ports and operators to launch a zero-emission vessel by 2025 at the latest.

Examples of the type of technology the money will support include battery electric vessels, shoreside electrical power, ships running on low-carbon fuels such as hydrogen or ammonia, and wind-assisted ferries.

Speaking about the funding, Transport Secretary Mark Harper said: “This multi-million-pound investment will help the latest tech ideas become reality and ensure UK waters will play host to green cargo ships, ferries and cruises in the next few years.

“Our funding will support a cleaner freight system, a more environmentally friendly tourism industry, and a net-zero maritime sector.”

Beatons Director Stephanie Hammond said: “This funding is welcome news for those maritime companies who have the ideas and knowledge to help innovate in this industry – and could be a big boost to existing or burgeoning businesses.

“The eligibility criteria states that the project applied for must have a total cost of between £3m and £40m but that the total grant applied for cannot exceed £20m. Importantly the application must be started by October 1, 2023, so time is of the essence – all grant funding must be claimed by March 31, 2025.

“The funding should be a positive boost to the UK economy, creating jobs and helping sustain the industry-specific business.”

The funding can only be used to decarbonise technology both on board and shoreside, and the government says this demonstrates its commitment to a new green age for maritime travel, free from emissions, in line with the 1.5-degree temperature target set by the Paris agreement.

The ZEVI funding is a further commitment to UK seas from the government and is in addition to the £100m UK Seafood Fund, which promises to make fishing vessel engines greener.

To find out more about eligibility, criteria and how to apply for the ZEVI funding click here.