The project was announced by Jim McColl, Clyde Blowers Capital chairman and chief executive, at the SMART Shipping Symposium at City of Glasgow College this week. Work will officially begin on July 1.
The funding was awarded to a European consortium led by Ferguson Marine Engineering Ltd (FMEL), which is based in Port Glasgow. The project will be jointly led by the University of St Andrews and other partners include Orkney Islands Council, Kongsberg Maritime (Norway), Ballard Power Systems Europe (Denmark), McPhy (France); DLR (the German aerospace agency) and Interferry (Belgium/US), the world’s largest ferry owners’ organisation.
The car and passenger vessel, named HySeas III, will initially operate in and around Orkney and its fuel will be produced from renewable electricity.
Gerry Marshall, Ferguson Marine chief executive, said: “We now have one of the most innovative and competitive shipyards in Europe, from which we plan to deliver great things for Inverclyde and Scotland. HySeas III is a living example of how it can be possible to lead the world.”