Proud to inform that the GREECE 2.0 action announced the funding with 1 ME of our with cooperation with Psyctotherm project which has been awarded with seal of excellence from EU two years ago. The new product is a high-temperature heat pump that recycles the waste heat at 90 ⁰C from the on-board auxiliary engines (jacket water) and then upgrades this heat for low-pressure steam production at a temperature of over 120 ⁰C for covering the ship’s heating services. This product leads to a payback period of 3 years or even shorter in case fuel prices continue to increase or high-cost distillate fuels are used. The result is to reduce the fuel consumption of oil-fired boilers by up to 90%, achieving net fuel savings of 50%. At the same time, the ship’s energy efficiency is increased by up to 4%. The HP4SHIP will be demonstrated on-board a ship towards large-scale dissemination activities to all key stakeholders.