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New S$4 million scheme aims to bring low-carbon maritime innovations to market

New S$4 million scheme aims to bring low-carbon maritime innovations to market

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2 -min read
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BUSINESSES building clean technology solutions for the maritime industry can look for at least S$4 million in support from new research and industry partners, in a scheme unveiled on Friday.

Forty startups and small or medium-sized enterprises (SMEs) could each get $100,000 or more in in-kind contributions, investments and co-funding to test and commercialise their offerings.

The EcoLabs Centre of Innovation for Energy (EcoLabs) will support the development of technologies such as low-carbon alternative fuels, port equipment electrification and hybrid-electric propulsion systems, as part of the Maritime and Port Authority’s Maritime GreenFuture Fund.

EcoLabs is a national-level project involving Nanyang Technological University (NTU), public agency Enterprise Singapore, and the Sustainable Energy Association of Singapore.

Its latest initiative is a tie-up with technology-focused venture firm SDGx and three other co-investors: Blue Ashva Capital, Origgin Ventures and Chrysalix Venture Capital.

NTU associate vice-president of strategy and partnerships Subodh Mhaisalkar, who is also chairman of the EcoLabs board, said that these partners “will contribute expertise for the translation and deployment of deep-tech solutions in commercial testbeds, where we will help startups prove that their technology is ready for market adoption”.

“This will help decarbonisation and sustainability startups bridge their transition from lab to market, which is currently a gap in the maritime sector,” Prof Subodh added in a statement.

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