A Japanese company has developed a hybrid commercial fishing trawler that reportedly uses up to a third less fuel than conventional fishing boats.

The prototype trawler, built by Tokyo-based Yamanaka, is part of a multimillion-dollar government-led effort to rescue Japan’s fishing industry from rising energy costs, according to a recent report in The New York Times.

The company says the United States and Europe are large potential markets for the hybrid technology, which switches between petroleum and electric-powered propulsion.

Click here for the complete report.