Fathom World - Finance/Funding, Wind propulsion…and even more. UK wind-assist pioneers forge ahead with further funding wins

Craig Eason - Fathom World

Hot off the back of £1.8m feasibility funding from the Scottish government, and an undisclosed level of investment by Japanese shipowner MOL, Smart Green Shipping has announced further funding from the UK.

The company, which has a wind-assist design for commercial vessels, is one of 19 projects to receive funding from a £60m government initiative focused on developing clean marine solutions.

The UK Clean Maritime Demonstration Competition is aimed at showcasing the potential for UK-based industries to push forward decarbonisation and position the country in the race to develop a new set of commercial opportunities.

In the press statement from SGS, founder and CEO Diane Gilpin is quoted saying: “I’m thrilled that the UK is demonstrating ongoing faith in our FastRig technology, which holds the key to rapidly reducing emissions from shipping. Wind power, harnessed using sophisticated digital software and well-engineered equipment, is at present the fastest way for the sector to reduce fuel consumption and related emissions.”