ABS, OceanFinance and Scorpius Space Launch Company (SSLC) will collaborate on the SPACE TECH4SEA project to adapt technologies developed for the space industry to LNG shipping.
The project will receive over €1m funding from the European Commission and aims to apply composite technology as an alternative in LNG as marine fuel designs, especially for short sea shipping.
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The SPACE TECH4SEA project will adapt SSLC’S PRESSURMAXX composite tanks for marine applications based on its use in various industries and more than 200 clients including NASA. Composite carbon fiber technology enables development of ultralight compact tanks, making LNG as fuel feasible for a broader range of marine vessels.
Dr. Panayotis Zacharioudakis, Managing Director, OceanFinance, believes that this project will enable sales of more than 2,000 tanks in the next 10 years.
SSLC President and CEO Markus Rufer, stated:
Composite technology can make LNG a compelling choice for ship owners. The size and weight of existing technology reduces capacity and increases the need for additional horsepower. Composite tanks will remove these issues, offering significant improvement in vessels’ OPEX and CAPEX, making LNG as a marine fuel viable for a wide range of marine applications.
The team aims to create tanks which will attract new buildings and LNG as a marine fuel retrofits by we reducing costs and weight and increasing vessels’ cargo capacity.
The technology aspires to provide weight savings up to 80% over current LNG tank designs. The project also aims to adopt an automated production line.
