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$200k grant available for fuel-saving technology

Carbon War Room (CWR), a non-profit organisation backed by Virgin boss Richard Branson, reports that it is to make grants up to US$200,000 to finance shipowners or charterers in retrofitting a single vessel with a bundle of technologies, with the aim of creating a minimum fuel saving of 10–15 per cent.

{mprestriction ids="1,2"}CWR has issued a request for proposals (RFP) for applicants looking to receive funding for the installation of continuous monitoring equipment, and says it will commission independent, third-party analysis of the collected data to verify the benefits of the multi-technology retrofit and provide a ‘proof of concept’ for the entire industry.

The organisation says that its own analysis of over 100 existing ships has shown that vessels can achieve efficiency gains of at least 10–15 per cent by retrofitting with a bundle of proven energy efficiency technologies, including advanced hull coatings, ducts, fins, and new propellers.

The grant will cover a portion of the total retrofit bundle, with at least 50 per cent of the remaining technology costs to be financed by a third party.

The project is funded by the Dutch Postcode Lottery, which recently awarded €1,000,000 to Rocky Mountain Institute and CWR to expand their efforts in the shipping industry.

CWR says that it expects the technology bundle on offer to yield economic benefits in the longer term too, positioning the vessel for financial gains beyond the immediate $200,000 award.

“This is an opportunity to highlight the savings from a technology-bundle approach through analysis of real, operational data,” said Victoria Stulgis, senior associate, Carbon War Room.

“We’re excited to work with a forward-thinking owner or charterer to deliver a model that can be easily scaled across the industry, save money, and reduce emissions at the same time.”{/mprestriction}

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