SpaceTech4Sea project coordinated by Ocean Finance Ltd, in which Scorpius Space Launch Company and American Bureau of Shipping Hellenic Single Member Limited Liability Company take part as Partners receives 60% funding from European Commission.

The  SPACE TECH4SEA project has three-year duration of implementation and  will adapt SSLC’S PRESSURMAXX composite tanks for marine applications based on its current use in a range of industries and more than 200 clients including NASA. Composite carbon fiber technology allows development of ultralight compact tanks, making LNG as fuel feasible for a broader range of marine vessels.

Some statements of the partners and the coordinator of the SPACE TECH4SEA as follow:

“This technology is a game-changer product that will unlock latent demand for LNG as marine fuel. The benefit of leveraging this US space technology, to improve the environment in European Sea basins, is obvious. We expect introduction of this innovative product will enable sales of more than 2,000 tanks in the next 10 years,” said Managing Director, OceanFinance, Panayotis Zacharioudakis.

“Existing LNG tank technology can make adoption of the fuel prohibitively expensive. This composite technology has proven itself in other industries; we are committed to learning how to safely apply those lessons to benefit the maritime industries,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.

“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,” said SSLC President and CEO Markus Rufer.

The joint team’s goal is creating tanks which will attract new buildings and LNG as a marine fuel retrofits by cutting costs, reducing weight and increasing vessels’ cargo capacity.While the tanks are currently made by hand, the project aims to adopt a highly automated production line to ensure a competitive pricing level.

The technology, which offers weight savings up to 80 percent over existing equivalent LNG tank designs and is not affected by corrosion, also introduces space technology safety standards to marine operations, the statement said.

Engineers from ABS’ Global Ship Systems Center in Greece will provide the rules, regulations and standards under which the composite tank technology can be approved for marine applications, reviewing the designs submitted by SSLC.

For more information please visit: SPACE TECH4SEA