Funding for marine businesses news. Includes bids for funding, and funding gained in marine grants, seed rounds and marine crowdfunding.
Read about how the RYA Foundation Youth Fund supports young sailors, Iqnautics kicking off its first funding round, the Italian startup which closed €250k seed round to produce electric boats and much more.
The UK government is launching an £8 million Smart Shipping Acceleration Fund to drive maritime innovation and harness the benefits of AI to boost productivity. The AI maritime funding will support feasibility studies for cutting-edge technology – from self-driving boats to ports using automated systems. Maritime minister Lord Davies is in Southampton today (22 April) […]
Explorer and adventure yacht builder Arksen has launched its first public investment round. The UK firm is raising £6m Series A capital from institutional and retail investors. The company was founded in 2018 by entrepreneur Jasper Smith. The firm, which has three business pillars — marine, automotive and apparel – reported revenues of £18.5m in […]
The UK has announced the 41 winning projects of the 2023 Transport Research and Innovation Grant (TRIG) competition, which will share more than £1.8m between them. The grants will fund the development of new concepts, including an automated boat that could reduce road emissions by delivering parcels by water. The TRIG scheme supports businesses and […]
A consortium of 15 partners, including SolarDuck, DMEC and RWE, have been awarded funding for Europe’s largest offshore floating solar demonstration project to date. The €8.4m Nautical Sunrise project, supported with €6.8m of the Horizon Europe programme, kicked off in December 2023 to execute research and development on offshore floating solar (OFS) systems and its […]
RAD Propulsion, a British firm developing sustainable outboards, has secured £1m investment from marine robotics firm Ocean Infinity. The investment is part of a funding round to facilitate RAD’s operational scale-up as its RAD 40 electric drive goes into mass production. This is a pivotal year for RAD, which sees its products become available to […]
GT Green Technologies, in collaboration with Carisbrooke Shipping and The University of Bristol, believes it’s set to revolutionise commercial shipping with its groundbreaking wind propulsion solution, AirWing. The project has been awarded a substantial £3.7m grant to install a 20-metre AirWing unit on a Carisbrooke Shipping vessel in the UK. The grant is from the […]
Archipelago Expedition Yachts has opened an initial seed investment round. It’s looking to further develop its zero-carbon technology, particularly the hybrid propulsion and methanol fuelling solutions. “This is a pivotal moment in the journey of Archipelago Yachts,” says Dr. Stephen Weatherley, founder. “We are aiming for carbon-neutral long-distance propulsion by 2040, and this investment round […]
A flotilla of boats has protested outside Palace of Westminster over ‘unacceptable and damaging’ funding cuts for the UK’s canals and rivers. The boats, a mixture of leisure and commercial, aimed to draw parliamentarians’ attention to their presence and the banners they displayed by sounding their horns and holding station outside the Palace of Westminster […]
Williams Jet Tenders has been selected by Innovate UK Edge to receive a grant of £13,000 to fund part of its ongoing sustainability programme that’s been put in place to test alternative, more sustainable composite materials for use in the company’s tenders. Spearheaded by Williams, the project starts this October and will be delivered in […]
Several Solent-based maritime organisations have secured over £32m funding in the UK government’s Zero Emissions Vehicles and Infrastructure (ZEVI) competition, ensuring a significant portion of the £80m match-funding made available by the government will support clean innovation in the Solent, on the UK’s south coast. The funding will support the design and development of clean […]
A new fund from the RYA Foundation has been set up to aid young people in reaching their full potential in sailing. The RYA Foundation Youth Fund was gifted with the funds remaining when the John Merricks Sailing Trust (JMST) was closed in October 2022. The fund is open to committed sailors under 25, who do not have the […]