New Delhi Union Shipping Minister Sarbananda Sonowal on Saturday announced that Cochin Shipyard Limited has committed to invest an initial corpus of Rs. 50 crore in start-up companies engaged in the maritime sector.
The minister also unveiled the government’s plan to manufacture hydrogen fueled electric vehicles, to be in sync with global sea green transition In the workshop on Green Shipping organized by the Ministry jointly with Cochin Shipyard Limited and The Energy and Resources Institute.
It is a part of India’s transformational efforts on the front of innovation, green energy, sustainable and cost-effective fuels.
Addressing the occasion, the Minister said that the government is paying great attention to the development of the start-up eco-system in the country. With a view to develop the maritime sector, the Ministry is working on a Start-up Engagement Framework which will be promulgated shortly.
“It is envisaged to enhance the start-up infrastructure” Government Initiatives To develop an ecosystem in the country to support marine start-ups from technical, regulatory, financial and marketing perspectives by bringing together stakeholders. This framework will provide a platform to young and talented entrepreneurs to develop products/services in the maritime sector with the financial support provided by Cochin Shipyard Limited.”
Hydrogen fuel cells can be used in a wide range of applications including transportation, material handling, stationary, portable and emergency backup power applications. Fuel cells running on hydrogen fuel are an efficient, environmentally friendly, zero emission, direct current (DC) power source already applied to heavy duty bus, truck and train applications, and now under development for marine applications. are subject.
Sonowal said that this project will be completed by Cochin Shipyard Limited In collaboration with Indian partners and the ground work has already started in this regard; Cochin Shipyard Limited has partnered with KPIT Technologies Limited and Indian developers in the areas of Hydrogen Fuel Cell, Power Train and Indian Register of Shipping to develop rules and regulations for such vessels.
“The Hydrogen Fuel Cell Vessel based on Low Temperature Proton Exchange Membrane Technology (LT-PEM) named Fuel Cell Electric Vessel (FCEV) will cost approximately Rs.17.50 crores out of which 75% will be funded by the Government of India.”
The minister stressed on protecting the planet for our own survival.
“India is strongly committed to a sustainable and clean environment and India had called for the “One Sun – One World – One Grid” initiative as a key player in the International Solar Alliance.