The government has awarded funding to a consortium led by businesses in Cornwall.
Morek Engineering, based in Falmouth, leads the group, which also includes Solis Marine Engineering in Penryn, and Celtic Sea Power in Hayle.
Also incorporated in the consortium are Tope Ocean from Devon and First Marine Solutions based in Aberdeen.
The funding has been won through the Clean Maritime Demonstration Competition.
It will facilitate the design of a low-carbon installation vessel for the floating offshore wind market.
Bob Colclough, MD of Morek Engineering, said: "This will be a first-in-class low-carbon vessel designed specifically to meet the complex installation requirements of floating offshore wind farm moorings and foundations.
"The project aims to align the detailed requirements of the emerging Floating Wind sector with the objectives of the UK maritime decarbonisation agenda.
"As the next era of offshore wind development moves towards using floating foundations, unlocking deeper sites and accessing stronger winds further from shore, this will involve mooring floating foundations to support the world's largest offshore wind turbines, some the size of the Eiffel Tower."
Mr Colclough further detailed the constraints of the current offshore service fleet and the necessity of a more efficient system to reach Net Zero targets.
This initiative forms part of the Clean Maritime Demonstration Competition Round 4 (CMDC4), helmed by the UK Department for Transport (DfT) and delivered by Innovate UK.
This accompanies the UK SHORE programme, a £206m scheme centring on the necessary technology for decarbonising the UK domestic maritime sector.
Ian Godfrey, MD of Tope Ocean, added: "To indicate the scale of the decarbonisation challenge, greenhouse gas emissions from offshore wind farm operation and maintenance vessels constituted more than 3 per cent of domestic shipping emissions in the UK in 2022."
Ultimately, the consortium aims to gain approval for the outline vessel design by early 2025.
Mr Colclough added: "We are aiming to be included in the national shipbuilding strategy, cementing the UK position to deliver Net Zero 2050.
"Our next generation vessel will help accelerate the growth of the floating offshore wind market around the world, providing low-carbon installation and maintenance."
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