The Kingdom of Saudi Arabia launched the IMOCARES Marine Global Technology Challenge

In partnership with the IMO, the Kingdom of Saudi Arabia launched the IMOCARES Marine Technology Global Challenge on Friday 21st July 2023. The innovative competition is aimed at maritime technology providers from across the world who can offer decarbonisation solutions for ports and/or vessels under 5,000gt as well as other interested stakeholders.

Technology providers from around the globe were invited to submit innovative decarbonization solutions for ports and domestic vessels in Africa and the Caribbean. Companies are encouraged to tailor their entries to the needs of the specific countries in both regions where the solutions will be deployed. The winning concept(s) of the Global Challenge are provided with funding to develop full proposals in collaboration with the IMO.

The challenge aims to identify solutions to accelerate green technology uptake in developing countries, with a specific emphasis on small island developing states and least developed countries.

There are substantial funds of approximately $500,000 that may be made available to the selected proposals for the demonstration of the technologies in each participating country, under the Global MTCC Network (GMN) project, which is funded by the European Union.

The IMO CARES (Coordinated Actions to Reduce Emissions from Shipping) project is funded by the Kingdom of Saudi Arabia and is focused on the needs of developing countries to meet the IMO Energy Efficiency and IMO GHG Strategy targets and thus help drive the achievement of global GHG emissions reduction.

The IMOCARES Marine Global Technology Challenge is one of many initiatives the Kingdom of Saudi Arabia is making within the IMO to foster cooperation when facing the issues of the Maritime sector. Through projects like this the Kingdom pushes the development of future technologies to provide safer more sustainable growth.