CMA CGM, the world’s third-largest container line by volume, and public sector investment bank Bpifrance have launched PULSE — a €200 million ($214 million) fund designed to accelerate the energy transition in the French maritime industry, according to Offshore Energy.
“Through PULSE, CMA CGM energy fund, we’re investing in sustainable advancements, from decarbonizing fishing vessels to supporting cutting-edge maritime research. This unique initiative showcases our unwavering support for the industry’s transformation, contributing to a cleaner tomorrow for oceans around the globe and fueling the journey to decarbonization,” the shipping company said in an April 25 LinkedIn post.
Specifically, €110 million will be available in grants and €50 million for equity investments to support maritime firms’ decarbonization efforts. Another €20 million will be earmarked for helping French fishing companies decarbonize their fleets.
In addition, a €20 million grant will be allocated directly by the fund to “advance maritime research, propelling the industry into a sustainable future.”
Operational from April, the fund was announced at the Paris International Agricultural Show in 2023.
Tags: CMA CGM Bpifrance Launch MultiMillionDollar Fund Decarbonize French Maritime Sector
