Maritime R&D gets full government backing

Which company did authorities partner with to develop clean energy technologies with a maritime application?

BW Ventures Pte Ltd (BWV) was chosen to develop the Green Marine Innovation Centre (GMIC) in partnership with the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI), according to a new release, with S$15 million in funding over the next five years.

“We believe that the setting up of the GMIC by BWV in Singapore will grow the capabilities of local tertiary and research institutions as well as local technology companies in the area of green technologies. This is another key collaboration that is supported by MPA’s Maritime Innovation and Technology Fund to develop programmes for the maritime technology cluster,” said MPA’s Chief Executive, Mr Lam Yi Young.

The GMIC will provide shared resources, including administrative functions, R&D personnel and laboratory facilities for green technology companies housed within the centre. Through GMIC, BWV will encourage its portfolio companies to develop R&D capabilities in Singapore, with the aim to improve on and commercialise their technologies.

“BW Ventures is pleased to contribute to the further development of Singapore as a center for cutting edge maritime technology,” said BWV Director, Andreas Sohmen-Pao. “We will seek to nurture sustainable research while promoting a growing sector of the economy.”

BWV, MPA and SMI signed the Maritime Environment and Clean Energy (MECE) Memorandum of Understanding (MOU), which sets the three signees to promote sustainable maritime-related research and development (R&D) in Singapore.

Under the MOU, BWV and MPA will each pledge S$5 million over the next five years to support projects driven by the GMIC. SMI will also fund various R&D projects initiated by local tertiary and research institutions.

“SMI is pleased to work with GMIC. This collaboration is in line with our R&D strategy to support green technologies for differentiation. SMI will continue to tap on a wide spectrum of research capabilities residing within our partners in the tertiary and research institutions to work with the industry and develop Singapore into a maritime knowledge hub,” said Mr Heng Chiang Gnee, Executive Director of SMI.

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