UK government obtains £80 million funding for green shipping

UK government obtains £80 million funding for green shipping

The UK government has announced the winners of the Zero Emission Vessel and Infrastructure fund (ZEVI).

Coastal communities around the country will receive over £80 million ($100 million) in government investment, promoting economic growth and the UK’s efforts to reduce carbon emissions.

This announcement coincides with the start of the London International Shipping Week (LISW), which runs from 11 September to 15 September.

Since its inception in September 2013, the LISW event has expanded steadily, and this year’s event will investigate the future of marine with decarbonisation and the inflow of artificial intelligence (AI).

READ: UK Emission Trading Scheme implements domestic shipping

The Transport Secretary will visit one of Artemis Technologies’ clean vessels on the River Thames before hosting a roundtable discussion at No. 10 Downing Street with senior representatives from maritime, technology, and academia to discuss Artificial Intelligence (AI) in maritime and the opportunities it presents for economic growth.

The ZEVI fund is a part of the UK SHORE plan, which was launched in March 2022 with a £206 million ($257 million) investment.

UK SHORE intends to reduce shipping emissions and move the UK towards a more sustainable maritime future.

Similarly, the ZEVI fund launched in February to help decarbonise the country’s maritime sector. 

Successful projects must demonstrate that they will utilise this funding to collaborate with prominent UK ports and operators to build a zero-emission vessel by 2025.

READ: UK Major Ports Group appoints new CEO

Sarah Treseder, CEO of UK Chamber of Shipping, stated: “The number of applications meant hard decisions had to be made but shows the strong desire to reduce emissions across the sector and the successful projects will be a crucial element in the journey to net zero.”

Chris Shirling-Rooke, Maritime UK CEO, said: “Britain has always been an island of maritime pioneers. The winners of today’s fund and the global leadership on show during London International Shipping Week shows this tradition will continue long into the future.”

Maritime Minister, Baroness Vere, stated: “The maritime sector’s drive towards a cleaner future goes hand in hand with the government’s plan to grow the economy and create new, well-paid jobs all over the UK.”

In July 2023, the UK government committed £34 million ($43 million) in financing for novel technology that will assist sustainable shipping as part of the Clean Maritime Demonstration Competition (CMDC).

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.