A consortium of 13 Northern Ireland-based companies led by Artemis Technologies has won a £33 million (US$40.8 million) UK Government innovation grant to develop zero emissions high-speed ferries for operation in the city of Belfast.
The ferries will each have capacity for 350 passengers and an electric hydrofoil propulsion system.
Artemis Technologies CEO Dr Iain Percy said the propulsion system will enable operations using 90 per cent less energy compared to vessels powered by conventional marine fuels.
The other partners in the consortium are: Belfast Harbour; Bombardier Belfast; Northern Ireland Advanced Composites Engineering (NIACE); Creative Composites; Energia; Catalyst; Invest Northern Ireland; Ulster University; Belfast Met; Queen's University; Belfast, Ards and North Down Borough Council; and Belfast City Council. With further investment from consortium partners, the total project investment will reach close to £60 million (US$74.3 million) over the next four years.