Poseidon H2’s main aim is to facilitate the implementation of renewable hydrogen among shipping companies across the globe.

To achieve this acceleration of hydrogen technologies, a supply chain will be developed by the company, Poseidon H2 will rapidly capitalise on the growing demand for green hydrogen-powered ships.

Being launched on VCEX, the fund will support the development of a hydrogen boat by 2023 – this would make it one of the “first in the world”, the company said.