Explore the words cloud of the FUELSAVE project. It provides you a very rough idea of what is the project "FUELSAVE" about.
The following table provides information about the project.
|Coordinator Country||Germany [DE]|
|Total cost||2˙287˙250 €|
|EC max contribution||1˙601˙075 € (70%)|
1. H2020-EU.3.3. (SOCIETAL CHALLENGES - Secure, clean and efficient energy)
2. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
3. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
|Duration (year-month-day)||from 2018-05-01 to 2020-04-30|
Take a look of project's partnership.
FS MARINE is the world's first hydrogen-powered engine assistant unit for ships. The patented hydrogen generator produces a proprietary synthetic gas that is injected into a ship's engines to significantly improve combustion efficiency. FS MARINE has been proven to reduce net fuel consumption by at least 10%, cut carbon dioxide (CO2) emissions by at least 10%, cut nitrogen oxide (NOX) emissions by at least 50%, and save at least 33% on engine maintenance costs. The customizable unit can be installed on any vessel, and the cost amortized within three years. This makes FS MARINE the most viable technology for overcoming the shipping sector’s environmental and economic challenges. Regulations require ships to reduce CO2 by 10% every five years. Struggling operators must cut fuel costs, which make up 50-60% of expenses. For an average ship, FS MARINE will save €2.9M in fuel and maintenance costs and prevent 19,200 tonnes of CO2 over 10 years. The company offers ROI-based pricing and build-lease-transfer options to make it accessible even for cash-restricted shipping companies. As a pioneering technology innovation, FS MARINE has no direct competition and is protected by two patents. Indirect competition comes from energy efficiency and pollution abatement methods that have inferior outcomes. There are 50,442 seagoing vessels worldwide, and 16,500 inland vessels registered in Europe. 50% are viable for FS MARINE. This creates a total reachable market size of €28.1 billion. The company aims to sell 379 units and earn €181M in revenue by 2021. Demand and willingness to pay have been demonstrated through pre-commercial test and sales agreements from 11 shipping companies with a combined fleet of 159 vessels. FS MARINE is the innovation of FUELSAVE GmbH, a German engineering company founded in 2012. It is now applying for Horizon 2020 Phase 2 to commercialize and roll out its beneficial innovation across European markets.
Work performed, outcomes and results: advancements report(s)
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The information about "FUELSAVE" are provided by the European Opendata Portal: CORDIS opendata.
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