Portsmouth's Unmanned Vessel Manufacturers to Receive £5 Million in Funding
Yesterday, Matthew Hancock, the new minister for Portsmouth visited the city and revealed a £5 million of funding would be injected into the city to help local companies further the creation of state-of-the-art technology for unmanned boats and submarines.
Hancock, the newly appointed Minister of State for Business, Energy and Enterprise, and Minister of State for Portsmouth, claims the fund will transform Portsmouth into a worldwide hub for this expanding market. The announcement was made during a visit to a successful local company that produces unmanned vessels for the military, scientific research and offshore energy companies - Autonomous Surface Vehicles Ltd. The fund will also benefit other local unmanned vessel manufacturers Qinetiq and BAE systems, as they try to gain a stronger foothold on the growing £100 billion global industry.
Coupled with the recently agreed £125 million Solent Growth deal and the confirmation of Portsmouth as the headquarters for Ben Ainslie’s America’s Cup team, it appears the confidence in the city’s ability to become more of a nerve center for the global marine industry is growing.
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Image Credits: Jack fm
Article by Jack Bartrop