Poseidon Marine H2’s technical partner Dynamic Efficiency has engaged Bureau Veritas Marine & Offshore to lead the certification process so the company’s technical solution, which will allow boats to operate on diesel and hydrogen fuels, can be underwritten by insurers.
With the finite element analysis due to be complete in August, Poseidon Marine H2 expects to have the technology underwritten by end of Q3 2022.
“Bureau Veritas is a legacy company with nearly 200 years’ experience in this field, making them the perfect partner to ensure Poseidon Marine H2’s technology gets certification for insurance coverage,” says Peter Mastalir, Poseidon Marine H2’s Principal Engineer & Director.
Once secured, having their technology underwritten by insurers will make their product commercially accessible & viable to potential customers.
“Bureau Veritas will also provide our technology with third-party validation from a company with a longstanding reputation as being one of the best testing, inspection and certification consultants in the world.”
The company says they have accelerated the certification process by taking Avesta Consulting, which is completing the finite element analysis stages, to Bureau Veritas’ Adelaide office.
“Bureau Veritas already have an understanding of the proof of concept Dynamic Efficiency has developed for the technology and has also provided options so we can meet the requirement needed for approval.”
By end of Q3 2022, the company will have a provisional patent and certification to allow insurance coverage, which will allow them to begin finalising agreements with large boat manufacturers.
The company will also be targeting substantial industrial/public contracts with defence forces, ferry operators, police bodies and other major maritime sectors around the world.
Poseidon Marine H2 says there is already strong market interest for their versatile technology that can run on multiple fuels which will allow customers to operate on current and future refuelling infrastructure.
Once they have a working product by Q3 2023, they will seek to commercialise it via a planned public listing in Q1 2024.