A project from Algarve company Sun Concept, which aims to develop new vessels that combine contemporary design with energy efficiency, is one of the five national initiatives that will be financed by the Blue Fund of the Ministry of the Sea.
According to the Ministry of the Sea, the Algarve company intends to «serial production of electro-solar vessels, with high hull efficiency in close alliance with contemporary design and energy efficiency, which will include the construction of molds and prototypes for the new vessels Catamaran 12.0 and Sunflash, for navigation in offshore and coastal waters».
For the development of this project, Sun Concept teamed up with AlmaDesign – Conceito e Desenvolvimento Design, Lda.
The Fundo Azul approved 1,9 million euros to be distributed among five projects selected in the typology of development of the economy of the sea, «with the objective of stimulating the emergence of a new generation of entrepreneurs of the sea (start-ups, SMEs and companies) creating innovative, profitable and sustainable business opportunities», explains the Ministry of the Sea.
The financing will be paid by the end of the current year.
In total, the five approved applications will receive a value of around 1,9 million euros, which represents an average contribution rate of 80,6% of the total investment.
In addition to the Sun Concept project, Fundo Azul will also finance a Bluemater project, called WWTP BM Demo, which intends to install a demonstration WWTP at the Brites, Vaz & Irmãos cod processing plant at Brites, Vaz & Irmãos. Gafanha da Nazaré, with the contribution of the Superior Institute of Engineering of the University of Algarve.
The Ministry of the Sea explains that the Government's program «has defined the Sea as one of its political priorities, attributing to the Minister of the Sea the responsibility of implementing a transversal strategy that materializes this purpose, with the aim of generating wealth and employment, based on a model sustainable. In this sense, the Fundo Azul was created with the main purpose of financing the economy of the sea».
So far, seven notices of the Fundo Azul have been published, «aimed at supporting research studies and scientific and technological development for the new emerging areas of the Economy of the Sea».
The Fundo Azul received a total of 205 applications, and the approval of the notices is expected to be completed by the end of 2018.
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