Funding has been approved for a project at Pendennis Shipyard to develop a hybrid energy system for marine vessels.

The UK's innovation agency, the Technology Strategy Board, announced that following a successful bid to its vessel efficiency collaborative research and development competition in 2013, funding has been approved for the High Efficiency Marine Energy project.

The project, which aims to develop a highly optimised hybrid energy system with innovative high capacity energy storage, will be led by Pendennis Shipyard alongside Energy Solutions, Bruntons Propellers and Triskel Marine Ltd, which are all members of the company’s supply chain. 

Albert Levy, chairman of Superyacht UK, said: “I am really pleased to see multiple SYUK businesses coming together and focus on research and innovation. I look forward to seeing the project develop over the next two years.”

A key objective of the consortium is to reduce overall fuel consumption on board, both for propulsion and house loads. The project team has the skills and experience necessary to develop innovative vessel energy efficiency products and systems, with a direct route to market and the potential for significant economic impact.

Toby Allies, sales and marketing director at Pendennis Shipyard, said: “The Technology Strategy Board has provided an opportunity for an experienced collaborative group to deliver results that no single company could achieve. The HEME project team members are all working towards a common goal, and we are very excited to be a part of such an innovative partnership.”