Hayley Atwell, who recently played Peggy Carter in Captain America: The First Avenger, is going Steampunk with a new role in The Return of Captain Nemo, but will a $10 million budget be enough to make the nautical adventure float?

The Return of Captain Nemo is a 3D sequel to Jules Verne’s 20,000 Leagues Under The Sea that will star Atwell as Sara, the niece of the chief advisor to President Ulysses S Grant. Captain Nemo is released from prison to investigate the mystery of “sea monsters” that are sinking ships up and down the Atlantic Coast. David Morrisey (Brit TV’s Red Riding) plays the uncle and Hugh Bonneville (Downton Abbey) has the role of Captain Nemo.

According to Deadline, the film will be shot entirely onstage with green screens and CGI. Filming will be done in Romania because producer Amy Krell says shooting in the States would double production costs.

While I’m a big fan of Steampunk and think it will be cool to see 19th century versions of Air Force One and the new look of the Nautilus, I’m not sure how The Return of Captain Nemo will do on the big screen when another Nemo adventure is also headed our way, with a new 20,000 Leagues Under The Sea being produced by Disney and directed by David Fincher. While the Disney project is no longer sporting its original $150 million budget, it’s probably safe to say Fincher’s film will have a little more financial muscle than The Return of Captain Nemo.

Does this mean the movie will be bad? No, especially when you consider that 300 also relied heavily on green screens and CGI, and that film didn’t suffer too much, although I just couldn’t get into that movie for some reason.

Steampunk is one of the hottest genres in books right now, so it’s probably safe to assume that 20,000 Leagues Under The Sea and The Return of Captain Nemo won’t be the only films headed our way that take advantage of steam-powered technology. Like every other trend that takes off, there will be some great films and some duds. Which one will The Return of Captain Nemo be?