CMA D. ARGOUDELIS & CO S.A. Commits €5M+ for ATLAS HELLENIC TECHNOLOGIES' Marine Flywheel Battery Research
CMA D. ARGOUDELIS & CO S.A., a trailblazer in marine automation, is proud to announce a significant leap forward in marine technology with the initiation of a cutting-edge research and development (R&D) project.
This ambitious endeavor, based on a project of ATLAS HELLENIC TECHNOLOGIES, aims to revolutionize the marine industry through the development of an innovative marine flywheel battery system. CMA has pledged a substantial investment exceeding 5 million euros to fuel this groundbreaking project of ATLAS.
This initiative marks a pivotal moment in CMA's commitment to sustainable marine solutions. The marine flywheel battery technology promises to enhance the efficiency and reliability of marine power systems, potentially setting new standards in energy storage and management on the high seas.
"We are excited to embark on this journey with ATLAS, a project that not only underscores our dedication to technological advancement in the marine sector but also aligns with our vision of a greener, more sustainable future," said Mr. Ioannis Argoudelis, Owner and CEO of CMA. "This investment is a testament to our belief in the transformative potential of this technology and its crucial role in the future of marine operations." Said Mr. Nikolaos Argoudelis, Owner and CEO of CMA.
The marine flywheel battery, a concept at the forefront of energy innovation, offers numerous advantages over traditional battery systems. It is designed to provide high power output, rapid energy transfer, and exceptional durability in harsh marine environments. These features make it an ideal solution for a range of applications, from commercial shipping to naval operations and offshore.
The collaboration between CMA and ATLAS combines CMA's extensive experience in marine automation with ATLAS's expertise in advanced energy solutions. This synergy is expected to accelerate the development process, bringing the marine flywheel battery closer to commercial reality. In addition, ATLAS and Mr. Theodore Karavassilis have gathered an exceptional R&D team. Most members of this team hold a PhD and joined scientists from National Technical University of Athens and from the National Centre For Scientific Research Demokritos, adding high-end knowledge and expertise during this innovative journey.
"We are committed to pushing the boundaries of what's possible in marine energy storage. We focus on new materials and nanotechnology and navigating towards the unknown, where no one has ventured before. New studies, new knowledge, new products." said ATLAS’s project leader Mr Theodore Karavassilis. "We deeply appreciate CMA's support and understanding and we thank CMA for our flawless cooperation so far. With the support of Ioannis and Nikolaos Argoudelis , we make a great team and we are not just developing a new product – we're aiming to redefine how energy is stored and utilized in marine vessels".
The project's success could pave the way for a new era in marine energy, with far-reaching implications for environmental sustainability, operational efficiency, and the global maritime industry at large.
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Maritime Business World