UK’s innovation agency has launched a £3m collaborative R&D competition to help businesses develop innovative systems and solutions to reduce emissions and improve efficiency of marine vessels.
The ‘Vessel Efficiency II: better systems at sea‘ aims to build collaborations across the marine and maritime sector, strengthen supply chains and create opportunities for smaller businesses.
“The marine industry is of vital importance to the UK economy, contributing around £19 billion each year, and employing 367,000 people,” said Business and Energy Minister Michael Fallon as he announced the opening of the competition.
“We want to encourage the very best in creativity and innovation within the industry in order to ensure its long term success and global competitiveness.“
The competition is aimed at UK businesses developing solutions to reduce emissions in naval, leisure and merchant marine vessels and improve their overall efficiency.
TSB chief executive Iain Gray said: “There is huge appetite among UK companies in the maritime and marine sector to deliver innovation, particularly in achieving more low carbon and efficient systems.“
“The number and quality of proposals submitted last year was excellent and we look forward to receiving a positive response to this new competition.“
Source and Image Credit: Innovateuk
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