May 8, 2024
UK Seafood Fund: Fleet Modernisation – Engine Replacement and Modifications
The Department for Environment, Food & Rural Affairs (DEFRA) is still accepting applications for the third round of its infrastructure funding. This funding opportunity is available until 12:00 PM on December 13, 2024, for commercial fishing vessels seeking to purchase new, more efficient engines. This initiative is designed to update commercial marine fishing vessels by replacing pre-2016 diesel engines with newer diesel, electric, or hybrid models.
Available Funding:
Applicants may seek funding for up to 90% of the expenses, with a maximum of £160,000, for:
• An electric or hybrid engine
• Modifications that enable the use of hydrotreated vegetable oil as a fuel, which must show at least a 30% reduction in emissions
Alternatively, funding for 50% of the costs, up to £80,000, is available for diesel engines. This includes any necessary vessel modifications for new engine installation.
Eligibility:
This funding is open to all commercial marine fishing vessels equipped with propulsion systems manufactured before January 2016.
How Royston Can Assist:
As authorised Volvo Penta distributors, Royston offers a wide range of marine certified engines, including IMO Tier II and Tier III compliant solutions whether mechanical, hybrid or full electric. Our team is also available to help with your funding application process.
Contact us today at:
T: (0191) 2958000
Learn more about how to apply for this funding: https://www.gov.uk/guidance/apply-for-the-infrastructure-scheme-round-3-engine-improvements#projects-that-can-be-funded