The UK has committed more than £200mn in seed funding to support the country’s green maritime technology sector, as part of the government’s latest national shipbuilding strategy.
The aim is to fund research and development in cutting the emissions of shipping and support start-ups to help establish themselves so they can compete globally in the commercial shipbuilding market that is dominated by countries such as South Korea, Japan and China.
The funding package of £206mn reflects the UK’s focus on high-margin technology rather than trying to return to its position as a leading global commercial shipbuilder it relinquished decades ago.
“While the hull part of things is important, the systems that go into these ships are critical,” said Robert Courts, a junior transport minister with responsibility for maritime. “We’re seeking to make Britain a world leader of the systems for green shipping.”
There are a number of UK companies already building a presence in this relatively new area of marine engineering, including Silverstream Technologies.
Read the rest of the article from the Financial Times here.
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