ABS Received $800 Million Investment to Develop Nuclear Propulsion Research Project for Cargo Transport Ships

The Company ABS Announced That It Is Carrying Out a Research Project Focused on the Maritime and Nuclear Sector, Focusing on the Adoption of Nuclear Propulsion for Cargo Transport Ships, in a Research and Technology Program of the DOE. 

This Friday, (08/19), the American Bureau of Shipping (ABS) announced that it is developing a research project on barriers and solutions for the maritime sector in the use of nuclear propulsion for cargo transport ships. The initiative is being carried out under a research contract granted by the U.S. Department of Energy (DOE) and will contribute to greater efficiency in international maritime operations over the coming years.

Research Project on Nuclear Propulsion in Cargo Transport Ships Is Being Conducted by ABS Under a DOE Contract from the United States

The company ABS commented on the research project on nuclear propulsion currently under development and stated that it is discovering barriers and new solutions for the use of the system in cargo transport ships.

The entire research project is being conducted under a contract from the U.S. DOE, which is also supporting separate research on molten salt reactors, aiming to expand new technologies in the nuclear sector. 

The research project has a total value of US$ 800,000 in investments and was awarded last year by the DOE Office of Nuclear Energy. Additionally, the initiative was formally contracted through the funding opportunity US Industry Opportunities for Advanced Nuclear Technology Development.

The initiative has already invested over US$ 215 million in advanced nuclear technologies since 2017 and has been driving the nuclear segment worldwide. 

Thus, the Senior Vice President of Global Engineering and Technology at ABS, Patrick Ryan, commented that “modern nuclear technologies are increasingly being suggested as a potential solution to the decarbonization challenge of maritime transport. However, many questions need to be answered, and it is essential for the industry to be able to assess these technologies with a focus on safety.” 

Maritime Sector Is Making Progress in the Search for Decarbonization and the Research Project of the Company on Nuclear Propulsion for Cargo Transport Ships Will Contribute to the Segment 

The international cargo transport sector is increasingly focused on the demands of the environmental agenda and is looking for new solutions to ensure sustainability in operations. Thus, the shipbuilding industry market is increasingly investing in new energy efficiency solutions and reducing time in product handling activities.

Thus, the NRIC director, Ashley Finan, believes there is a “tremendous opportunity” to reduce emissions in the maritime sector through the use of the right systems in vessels. The nuclear propulsion research project in cargo transport ships by the company ABS will then help shift the maritime sector’s focus toward sustainability, as operations will become faster and will reduce pollutant gas emissions. 

The company ABS is an international organization that operates in more than 30 countries and serves clients in the following industries: oil and gas, nuclear, government, maritime, wind and renewable energy, and mining. In the maritime field, the organization is responsible for establishing minimum technical standards and requirements for maritime safety and environmental protection and ensuring their consistent application. 

Furthermore, ABS provides safety management, risk, and integrity services and currently has experience in carrying out challenging projects worldwide, after nearly half a century of operation in the market, thereby ensuring high-quality and efficient services.