The Technology Strategy Board (TSB) in the UK has approved funding for the “High Efficiency Marine Energy” (HEME) project following a successful bid by Pendennis shipyard in Cornwall.

TSB is the UK’s innovation agency, supporting the development of new products and services and helping to bring them closer to market.

The HEME project will develop a highly optimised hybrid energy system for marine vessels utilising innovative high capacity energy storage. The project will be led by Pendennis alongside a group of members of the company’s supply chain; Energy Solutions, Bruntons Propellers and Triskel Marine Ltd.

Chairman of Superyacht UK, Albert Levy, explains: “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.

Toby Allies, sales & marketing director at Pendennis, comments: “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.”