23 May 2025 – SRC Group’s Methanol Superstorage solution has won The Royal Institution of Naval Architects Maritime Innovation Award 2025, recognising its contribution to the adoption of methanol as a mainstream marine fuel.
Every year, a panel of RINA judges considers initiatives from academia as well as industry before giving the prestigious award to the innovation considered the most significant in terms of advancing maritime vessel design, construction, and operations.
Aligning with International Maritime Organization targets to reduce greenhouse gas emissions over the coming decades and achieve Net Zero by or around 2050, a ship fuelled by green methanol could reduce carbon emissions by up to 95%. However, methanol has significantly lower volumetric energy content than HFO. Owners working with the fuel either need to bunker more frequently or factor in around 2.5 times the fuel storage capacity to produce equivalent energy.
Methanol Superstorage is a unique, space-efficient methanol storage solution that will allow existing ships and newbuilds to play a full role in energy transition.
Conventionally, the tanks used to store low flash-point fuels on ships feature internal and external walls that are separated by cofferdams spanning a minimum of 600mm. Methanol Superstorage meets the storage challenge by replacing this with Sandwich Plate System (SPS) technology, where 25mm thick tank walls are comprised of internal and external steel surfaces connected by an elastomer core.
Already approved in principle by Lloyd’s Register and RINA (Registro Italiano Navale), Methanol Superstorage boosts tank capacity on average by around 85% with minimal impact on the GA.
Speaking at RINA ’s Annual Dinner, at the De Vere Grand Connaught Rooms, Covent Garden, London on 22 May, Hannes Lilp, CEO and Chair, SRC Group, said: “The SRC team is truly honoured to accept RINA’s Maritime Innovation Award, which considers developments in hydrodynamics and propulsion, structures and materials from across academia and industry.“
“Given that our focus in growing SRC over the last 25 years has been on the complex ship project work we do day to day, it is especially rewarding to be recognised for the engineering innovation that has gone into developing Methanol Superstorage.”
DNV’s latest Alternative Fuels Insight (AFI) figures show that ships using methanol accounted for 24 of the 49 orders placed for alternative fuel solution in April 2025. In March, DNV said that 60 methanol-fuelled ships were already in operation, with a further 340 on order.
SRC has already undertaken detailed studies covering the use of the Methanol Superstorage solution on board cruise ships, container ships, ferries, tugs, offshore support vessels and yachts.
About SRC Group
Founded in 2001, SRC is a multi-regional company with 24 years of experience in managing marine & offshore projects that require tailored solutions and short lead times.
The company offers EPCI (Engineering Procurement Construction Installation) solutions – design and engineering, technical, electrical and interior refit services in maritime and offshore sectors.
With the successful completion of more than 5,000 projects worldwide, SRC has established an extensive network of dependable collaborators (affiliates, associates, partners) and subcontractors. Its completed projects range from small repairs to major EPCI retrofits with up to 1,000 workers.
SRC Group is a private capital company with offices in Estonia, Italy, Norway, US, and the Netherlands.
