Meyer Turku and its NEcOLEAP project has been selected to take part in Business Finland’s financing project which aims to help companies to increase their RDI investments in Finland.

The NEcOLEAP concept is hoping to develop carbon-neutral and sustainable technological solutions for cruise ships through an extensive partnership network. The goal is to secure a billion-order cruise ship order for Turku Shipyard.

Meyer Turku’s goal is to develop a climate-neutral cruise ship concept by 2025, and to achieve carbon neutral shipbuilding by 2030.

The cost estimate of the NEcOLEAP project is approximately EUR 100 million, of which Business Finland’s financial contribution to Meyer is EUR 20 million and Meyer Turku’s own contribution is EUR 30 million. Business Finland has also set aside EUR 50 million for companies, research institutes and universities involved in the ecosystem.

Gaining access to Business Finland’s RDI funding was not only significant but also vital for Meyer Turku, as only innovative R&D work and continuous modernization can guarantee the yard’s competitive position in the increasingly competitive maritime industry, the yard said.

The direct employment impact of securing a single climate-neutral ship order will be approximately 12,000 person-years, which is equivalent to approximately 9,500 jobs for the shipyard and its ecosystem of partners. The impact of the order on Meyer’s net sales is approximately one billion euros and will have a direct impact on Finnish exports.

“With the European Union’s Recovery and Resilience Facility (RRF) funding, leading companies can start significant green transition-related R&D initiatives in Finland. These initiatives have a major impact on the well-being of Finns in terms of employment and business development. Meyer Turku’s NEcOLEAP project reinforces the know-how and partner network of the Finnish maritime cluster as well as strengthens global competitiveness. We see the financing of leading companies as a viable way to build and develop Finland’s future. Welcome to the leader project,” said Business Finland’s leading expert, Karin Wikman.

The research and development topics will focus on four areas: the cruise ship itself, the shipyard’s operations, and the introduction of smart technologies and the open-minded professionals of the future, the yard said.

According to Executive Vice President of Meyer Turku, Tapani Pulli, the main goal of the NEcOLEAP project will be to adapt the business towards the green transition and meet the demands of climate action together with Meyer’s partner ecosystem.