French liner CMA CGM and French public sector investment bank Bpifrance have launched a €200m ($214.5m) fund to push forward the French maritime industry’s energy transition.
Of the €200m, €20m will go to help decarbonise fleets of French shipping firms, €110m and €50m will be assigned to grants and equity investments, respectively, for maritime decarbonisation efforts while the remaining €20m will go directly to the advancement of sustainable maritime technologies.
The offered amount is part of CMA CGM’s $1.5bn PULSE energy fund focused on decarbonisation. Projects eligible for funding from the energy fund can come from the shipping, tourism and cruising, fishing and seafood products, infrastructure, naval and nautical industries, and renewable energies sector.
The five-year PULSE fund was created by Rodolphe Saadé in September 2022 with the aim to accelerate CMA CGM’s energy transition in order to achieve net zero carbon by 2050.
Tags: CMA CGM, Decarbonisation, Fund, Shipping
Recent Posts
Europa Technologies announces partnership with Twinn
IAC raises the question on India’s absence in LPG autogas vehicles
Montra Electric and Magenta Mobility forge partnership for sustainable logistics solutions
Amogy accelerates commercialization of ammonia cracking catalyst in partnership with JGC
Union Minister Pralhad Joshi visits Greenko’s integrated renewable energy storage project
Government aims at 30% ethanol blending with petrol by 2030
Rio Tinto and AMG Metals & Materials to assess low-carbon aluminium project in India
Gasum selects Wärtsilä for another bioLNG project in Sweden