SpaceTech4Sea a 1.6 million EURO project, will be receiving 60% funding from European Commission!
SpaceTech4Sea project was submitted under the Call for proposals EASME/EMFF/2017/188.8.131.52 – Sustainable Blue Economy on February 2018.
SpaceTech4Sea was examined according to the admissibility, eligibility, exclusion, and award criteria published in the Call for Proposals (CfP) EASME and has been favorably evaluated for funding from the European Commission.
An action which involves the implementation of Aerospace Technology in the Maritime and Transport Sector. Its aim is to boost Blue Economy by removing the obstacles in the implementation of the LNG as marine fuel in EU water basins through the commercializing of an innovative game changer all-composite and thus ultralight tank capable for storing cryogenic fuels such as Liquid Natural Gas, Liquid and Slush Hydrogen, which dissolves the negative of effects of the current technological solutions in vessels design and operation. The all-composite and thus ultralight tank weighs 85.82 % less compared with the average Cryogenic tanks of the same net volume. This Action will boost the use of LNG as a marine fuel in the European & Global Waters and will wipe out the fact that the existing technology of Cryogenic tanks is penalizing the use of LNG due to its weight of transportation capacity.
The coordinator of this Action is Ocean Finance Ltd, in which Scorpius Space Launch Company and American Bureau of Shipping Hellenic Single Member Limited Liability Company take part as Partners.
SpaceTech4Sea is an innovation coming to eliminate one of the biggest barriers towards the adaption of green fuels and to provide low and zero emission solution in Maritime and Transport Industry.