The UK Government has granted £2.3m ($2.85m) for the development of new maritime technology to cut shipping emissions.

The Department of Transport (DfT) announced the funding, which is part of the government’s clean maritime plan.

The UK Maritime Minister Nusrat Ghani has committed an additional £1m to fund new shipping technology projects through MarRI-UK.

MarRI-UK is a consortium of leading maritime organisations. It has already allocated £1m to support clean maritime projects in their early stages.

Minister Ghani said: “I am delighted to announce this fantastic funding for pioneering research, bringing the UK ever closer to zero-emission shipping.

“The UK continues to lead the way on the global stage, playing a key role in reaching an international agreement to reduce greenhouse gas emissions from shipping by at least 50% in 2050.

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“This latest investment will help ensure our great maritime nation remains sustainable years into the future.”

The government has decided to collaborate with the investment community to finance zero-emission shipping projects and make the UK a global hub for low-carbon maritime technology.

Scheduled to be organised next summer, the new Green Finance for Maritime conference will help connect the government, financial services and technology sectors to develop relationships and negotiate new deals.

Maritime UK vice-chair Sarah Kenny said: “The UK is home to world-leading maritime technology, particularly in automation. We want to be leaders in the key areas of decarbonisation and digitisation too.

“MarRI-UK is the first collaborative body in the sector that brings together expertise from all parts of the sector. We back decarbonisation by 2050 and by working collaboratively with government, we will achieve this.

“Already across Britain, we’re seeing promising progress. From hybrid ferries to hydrogen fuel, the sector is tackling the challenge head-on.”