BW Ventures Pte Ltd (BWV), the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI) will work together to promote sustainable maritime-related research and development (R&D) in Singapore, Bernama reports.
BW Ventures is involved in businesses providing marine-based solutions to energy challenges, including clean-tech investments and offshore projects.
It is part of the BW Group, a leading global maritime group involved in oil and gas transportation and deepwater production.
Through its predecessor companies, Bergesen and World-Wide Shipping, the BW Group has been delivering energy and other vital commodities for over 70 years.
BW Ventures is managed from offices in Singapore, Oslo and Bermuda.
The Maritime Environment and Clean Energy (MECE) Memorandum of Understanding (MOU) was signed by BWV Director and BW Maritime chief executive officer Andreas Sohmen-Pao, MPA chief executive Lam Yi Young and SMI executive director Heng Chiang Gnee today.
MPA and SMI will work with BWV to develop the Green Marine Innovation Centre (GMIC) to support the research and development of clean energy technologies with maritime applications.
Lam said: "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."
The GMIC will provide shared resources, including administrative functions, R&D personnel and laboratory facilities, for green technology companies housed within the centre.
Through the 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 centre for cutting-edge maritime technology. We will seek to nurture sustainable research while promoting a growing sector of the economy," said Sohmen-Pao.
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.
Commenting on the collaboration, Heng said: "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."
BW Ventures is involved in businesses providing marine-based solutions to energy challenges, including clean-tech investments and offshore projects.
It is part of the BW Group, a leading global maritime group involved in oil and gas transportation and deepwater production.
Through its predecessor companies, Bergesen and World-Wide Shipping, the BW Group has been delivering energy and other vital commodities for over 70 years.
BW Ventures is managed from offices in Singapore, Oslo and Bermuda.
The Maritime Environment and Clean Energy (MECE) Memorandum of Understanding (MOU) was signed by BWV Director and BW Maritime chief executive officer Andreas Sohmen-Pao, MPA chief executive Lam Yi Young and SMI executive director Heng Chiang Gnee today.
MPA and SMI will work with BWV to develop the Green Marine Innovation Centre (GMIC) to support the research and development of clean energy technologies with maritime applications.
Lam said: "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."
The GMIC will provide shared resources, including administrative functions, R&D personnel and laboratory facilities, for green technology companies housed within the centre.
Through the 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 centre for cutting-edge maritime technology. We will seek to nurture sustainable research while promoting a growing sector of the economy," said Sohmen-Pao.
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.
Commenting on the collaboration, Heng said: "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."