Verkís receives a grant from the Icelandic climate fund

Verkís has been awarded a maximum grant of 15 million ISK by the Icelandic Climate Fund for a project pertaining to energy exchange in ship transport using electric fuel. The grant will serve as co-financing for the innovation project GAMMA, a large European project worth 2.5 billion ISK, which is related to the topic of the Icelandic Climate Fund.

By utilizing an electric fuel system in place of the ship’s current oil-consuming auxiliary engines, the GAMMA project aims to drastically reduce the amount of oil consumed by the vessel while conducting real-world testing and development of technical solutions on board a tanker used for international shipping.

Out of the 85 applications received by the fund, 16 projects were funded. Out of them, 58 were creative projects, and 14 of those were funded. Verkís is therefore extremely appreciative and proud to have been awarded this grant.

The Minister of the Environment, Energy, and Climate is in charge of the Climate Fund, a competitive fund that provides funding for initiatives that lower emissions or mitigate their effects. The fund awards grants based on a professional evaluation of project quality and in accordance with the board of the Climate Fund’s overall priorities. The innovative projects that are chosen place special emphasis on using already-existing basic knowledge, concentrating on entities with significant potential to reduce emissions, having the potential to be implemented as broadly as possible in society, and having an impact that extends beyond specific businesses, associations, and/or organizations.

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