Public Funding for Marico Marine Group Limited

Development of sea-space is increasing, especially due to the growth of Offshore Renewable Energy Installations (OREI). The number and size of vessels travelling through territorial waters is also growing - placing ever increasing constraints on the safety and efficiency of vessel traffic. In order to gain approval from maritime regulators, developers are required to provide evidence that development of an asset at a particular site will not significantly impact the safety of navigation in the area. This impact to shipping and navigation is a key consideration for consenting authorities yet is often considered late in the licence application process. To de-conflict this, an updated and innovative approach to marine spatial planning is needed, one that helps OREI developers consider the potential impacts early in the planning process, while simultaneously reducing developer risk. Marico Marine's innovative geospatial constraints mapping toolkit makes it commercially viable for developers to consider implications to shipping and navigation at an earlier stage (across multiple potential locations) and minimise the risk that projects are refused on shipping and navigation grounds. Marico Marine's prototype delivers a geospatial visualisation of navigation constraint that is of value to both the maritime industry and offshore developers simultaneously -- an approach validated with the industry body RenewableUK. The prototype was designed by Marico Marine as part of the UK Hydrographic Office's (UKHO) ADMIRALTY Marine Innovation Programme "Accelerating growth in Offshore Renewable Energy" challenge. The UK is seen globally as a leader in the development of offshore renewables, and as such the techniques and processes developed for the UK domestic market are in high demand. In the United States OREI development is gaining increasing momentum, making now an excellent time for a feasibility study to engage and begin the process of accessing their market. The United States has a target to deploy 30 gigawatts (GW) of offshore wind by 2030 and are anticipating to unlock a pathway to 110 GW by 2050\. Adaptation of Marico Marine's innovative shipping & navigation constraints toolkit for other national waters would give access to a significant global market and allow the UK to capitalise on its well-established reputation as a leader in OREI planning and consenting.