The CMA CGM Group has launched a €200 million call for projects targeted at start-ups and businesses working on systems to accelerate decarbonisation within all areas of the French shipping industry.
Announced by Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, it is backed by the CMA CGM Fund for Energies, launched in September 2022 with the goal of providing €1.5 billion over five years to accelerate the Group’s energy transition in order to achieve Net Zero Carbon by 2050.
The fund was designed to invest in projects to support the development and generation of renewable energies, step up the pace of decarbonisation within industrial facilities across all of the Group’s activities, and promote innovative projects and low emission mobility technologies.
The call for projects in the shipping sector is open to start-ups with innovations that can assist in decarbonising the ‘blue economy’ in France in areas such as shipping, fishing, naval industries and renewable energies.
CMA CGM says that projects will be selected based on the concrete impact they could have on decarbonising the French shipping industry, the maturity of the projects and their economic feasibility.
Chosen businesses will have the opportunity to receive shared investments from the public sector and private operators and benefit from the assistance of shipping industry experts to accelerate their development, in collaboration with the French State Secretariat for the Sea and various public bodies involved in the France 2030 plan.
The application platform is now live, as of 30 January 2023.