Maritime decarbonisation and offshore tech schemes launched

Two programmes designed to support the offshore and maritime industries’ roles in the country’s energy transition have launched.

The 2050 Maritime Innovation Hub, a collaborative initiative led by the Port of Tyne and partners including Connected Places Catapult, Offshore Renewable Energy (ORE) Catapult, Nissan, and the Department for Transport, has launched the Venture Connect Green Investment Programme. Organisers say it will help link local businesses developing solutions for decarbonisation in maritime, including university spin-offs and start-ups seeking investment, with investors that want to support a more sustainable, low-carbon maritime industry.

The programme is intended to support the industry’s work towards Maritime 2050 targets. Julia Prescot, the deputy chair at Port of Tyne, said: “The Maritime Innovation Hub has an outstanding record in the North East for advancing innovative developments in the maritime and logistics sectors – to ensure sustainability, this activity needs to be matched to long-term investment from responsible investors to enable such developments to expand and reach scale. Venture Connect will act as a much-needed and exciting new platform to bring investors and innovators together.”

Meanwhile ORE is looking for applications to its latest technology accelerator programme – the national Launch Academy. The accelerator supports early-stage companies as they progress into the UK’s offshore wind supply chain and to date has supported 47 companies, raised £22.6m in private investment, £6.5m in grant funding and had 48 patents filed through both the national and regional Launch Academy programmes across the UK since 2020.

The 2024 programme will be sponsored by offshore wind industry giants RWE, bp and ScottishPower Renewables. Those sponsors will set challenges pertinent to the offshore wind industry that are used to select 10 companies for the programme, and successful companies benefit from engaging with these industry experts throughout the nine-month Launch Academy programme.

Stephen Wyatt, director of Strategy and Emerging Technologies at ORE Catapult, said: “This year, ORE Catapult is offering increased levels of technical support alongside our business growth modules, and I am delighted to welcome RWE, bp and Scottish Power Renewables as industry sponsors for Launch Academy 2024 – providing strong industry insight and market connectivity for successful applicants.”

References

1. ^{^} Luminous Group seals £1m fundraising deal to roll out training tech platform (www.business-live.co.uk)
2. ^{^} More than 460 companies owed £23m by Metnor Construction, new documents show (www.business-live.co.uk)