Space-tech startup PierSight has successfully raised $8 million in total funding through a seed extension round, attracting investors like CE-Ventures and Sustainable Ocean Alliance. The investment will support the development of a satellite constellation for maritime intelligence, targeting issues like illegal fishing and marine pollution, with the first satellite launching in 2026.
The Maritime and Coastguard Agency (MCA) is actively participating in The Clean Maritime Demonstration Competition (CMDC) to promote net zero emissions in the maritime industry. Managed by Innovate UK, the CMDC funds green technology projects for decarbonization. MCA’s HQ Consultant Surveyor, Gwen Lancaster, highlights the importance of innovative projects in advancing clean maritime technologies.
Russia’s VTB, the second-largest lender, failed to acquire Zvezda shipbuilding yard from Rosneft due to lack of financing. VTB’s USC couldn’t secure funds for the deal, halting negotiations. The yard specializes in building ice-class tankers for Arctic LNG transport. Despite setbacks, Russia aims to boost its shipbuilding industry amid Western sanctions.
The Welsh Government is investing over £1 million in the marine, fisheries, and aquaculture industry to support sustainable growth and help coastal communities thrive. Funding includes £700,000 for revenue and £700,000 for capital, with a 10-week application window open for various activities such as enhancing aquaculture sites and equipment.
The UK government has launched the sixth round of the Clean Maritime Demonstration Competition, offering nearly $37 million to support decarbonization efforts in the maritime industry. The program aims to advance clean maritime technologies such as electric, hydrogen, ammonia, and wind power. Innovators are encouraged to collaborate with maritime companies to develop new approaches and technologies.
Lloyd’s Register Foundation has granted £1,000,000 to the IMO International Maritime Law Institute (IMLI) to strengthen maritime safety legislation. The funding will support training for 16 experts globally, focusing on digitalization and decarbonization. Tim Slingsby stressed the need for capacity building in regulatory frameworks, while Norman Martinez emphasized the importance of human capacity in addressing threats to the maritime industry.
The ShippingLab in Denmark launches the SLGREEN project, aiming to support sustainable ship operations with a DKK 31 million investment. Over three years, the project will focus on predicting ship performance, managing biofouling, monitoring engine wear, digital piloting, and improving crew comfort. Partners include Danish Maritime Fund, DS Norden, and Lauritzen Fonden.
The UK is funding a project to expand the use of rotor sails to more classes of vessels. Anemoi Marine Technologies, along with partners, will develop and demonstrate a smaller sized rotor sail suitable for mid-range vessels. The project, costing £1.9 million, aims to assess the performance of the new design.
