The fund will be used to help develop prototype ships and port infrastructure that could then be rolled out across the UK to help its journey towards achieving net zero.
The government is encouraging scientists and academics to work with those across the UK maritime industry to bring cutting-edge innovations into the competitive global market. It suggests these proposals can drive economic growth, create thousands of jobs and propel the UK to becoming a leader in the field.
Companies will be able to trial the new technologies with the aim of taking them to market if they prove successful.
The competition announcement follows the government’s preparation of its ‘Transport Decarbonisation Plan’, which will set out how all modes of transport, including sea, rail, road and aviation, can make the switch to net zero.
Robert Courts, Maritime Minister, commented: “This is a turning point for the UK’s maritime sector. It’s an opportunity for businesses to develop the technologies of the future, not only protecting our environment but driving economic growth.
“I urge this country’s best thinkers to put their green ideas forward and help us deliver a better, cleaner maritime sector.”