Meyer Turku (Finland) gets EUR 20M in funding to build climate-neutral cruise ship

   February 21, 2022 ,   Cruise Industry

Finnish shipbuilding company Meyer Turku (Turku, Finland) announced it had been selected by Business Finland as the recipient of EUR 20 million in initial funding towards the building of a climate-neutral cruise ship, scheduled to be constructed by 2025.

The funding was granted as part of the EU-backed NEcOLEAP project of the German-owned company, an initiative aiming to encourage innovative and sustainable solutions within the cruise industry. Business Finland has set aside the other EUR 50 million to fund other participants in the effort.

The company, which operates a shipyard situated in Southwest Finland, added its goal was for the yard's operations to be entirely carbon neutral by 2030, a target that in combination with the climate-friendly cruise ship would cost ~EUR 100 million.

Meyer Turku said the NEcOLEAP project would bring together companies, universities, and research institutes to develop new technologies that would ensure the competitiveness of the Finnish shipbuilding industry in the future.

The firm said the project would create an estimated 9,500 new jobs and was set to increase the turnover of the company by a billion euros - significant for Finnish exports.

Port of Turku (Finland)

According to the company's deputy chief Tapani Pulli, Meyer Turku had already established a solid partnership network but due to funding received by the project, they could expand their horizons "to find the most innovative solutions and new ways of working."

The firm said many potential participants had already shown interest in joining the effort.