Nineteen new sustainable blue projects have been pre-selected for funding by the European Commission under the European Maritime and Fisheries Fund (EMFF). The selected projects have been selected under the Call for proposals EASME/EMFF/2017/1.2.1.12 – Sustainable Blue Economy on February 2018 launched to accelerate the deployment of a sustainable blue economy across EU and the Mediterranean sea basin.
The Grant Agreements of which are currently being prepared for signature.

Among the Nineteen sustainable blue projects is SpaceTech4Sea 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 will be receiving 60% funding from European Commission.

SpaceTech4Sea is 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. In the context of its implementation SpaceTech4Sea will demonstrate, validate and commercialise an innovative ultralight LNG fuel tank in the maritime sector by utilising cutting-edge aerospace technologies and novel shipbuilding techniques. 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.

For more information: The European Commission to invest €14.5 million in new maritime projects