A Green Marine Innovation Centre (GMIC) will be set up to support the research and development of clean energy technologies with maritime applications.
The initiative will be driven by BW Ventures (BWV), the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI).
The three organisations will work together to promote sustainable maritime-related research and development in Singapore, under a Maritime Environment and Clean Energy (MECE) Memorandum of Understanding signed on Monday.
“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,” said MPA’s chief executive Lam Yi Young.
“This is another key collaboration that is supported by MPA’s Maritime Innovation and Technology Fund to develop programmes for the maritime technology cluster.”
The GMIC will provide shared resources, including administrative functions, research and development personnel and laboratory facilities for green technology companies housed within the centre.
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 research and development projects initiated by local tertiary and research institutions.
