Markets for Immersive Visual Technologies (IVT) such as Virtual Reality and Augmented Reality have been growing fast in recent years. Most of the current applications are based on computer-generated content, e.g. computer games. However, there has been a substantial interest in adding real-world live content to IVT. Volumetric imaging technologies produce 3D volume renderings from 2D images and allow to synthesize arbitrary viewing positions which is a required component for the immersive visualization of real-world scenes. Current volumetric imaging technologies are limited in terms of spatial and temporal resolution as well as dynamic range of reproducible colours. This is due to deficient sensors and lack of powerful algorithms and computing platforms which hinder the targeted level of immersion. The aim of V-HDR-V project is to overcome these limitations by making two key innovations: First, the project proposes new volumetric HDR video capture. Second, computational models of the Human Visual System (HVS) will be used to assess and guide the entire pipeline from active multi-modal sensor combination and placement over processing in terms of light field to reproduction on emerging devices such as Light Field and Head Mounted Displays. The efficiency of the entire system will be achieved by means of new parallel visual computing algorithms and its effectiveness will be validated in extensive user studies. By setting ambitious research goals, V-HDR-V project leverages the technical skills of the ER, provides him with new skills, enhances his competencies and contributes to his career development. The project has the potential to deliver valuable solutions to the Europe’s high-tech industries in the emerging field of IVT.