Questions about upgrading

[Parnassus]

So, I just stumbled on this little gem on Steam the other day and I'm absolutely loving it, however I have a few questions:

1) How do you "upgrade your hull"? This is something that every walkthrough seems to recommend but I can't figure out how to do it. At science stations you can upgrade equipment but my ship is never available as an option in that list.

2) In stations you have the option to "take part in the development of your station", I haven't gathered enough money to do it yet, what does this actually do?