The Maritime industry is in a frantic search for ways to design and operate marine vessels that generate less CO2 and further modify the existing fleet to reduce emissions. The Maritime industry accounts for 3% of global emissions which will continue to rise to 5% by 2050 if the old propulsion technology does not improve.
PerMarDrive is a marine propulsion system being developed to address maritime emission through reducing fuel consumption by 15% and lowering vessel maintenance costs by 50%. PerMarDrive includes our Permanent Magnet AC motor, which offers incomparable speed (2300RPM) within mid-high power range (up to 1000KW) applications that will be coupled with an innovative integrated clutch drive. PerMarDrive is envisaged to be sold for 250k€ and 600k€ for the smallest to the largest respectively. Once commercialised, PerMarDrive will enable TEMA to generate cumulative revenues of €69.6M by 5th year in product commercialisation, from a market expected to grow to €10, 9 billion at CAGR of 10% by 2024. We expect to clinch to 0,14% of the global Hybrid Marine Propulsion Systems market by the year 2023.
In Phase 1 we will validate PerMarDrive prototype, develop Intellectual Property strategy, and carry out a market study, search and recruit partners and draft a business plan. In Phase 2, we will finalise the scale-up, demonstration, design and operability of PerMarDrive to match the requirements of the targeted customers.