Silverstream Technologies is a leading maritime clean technology company specializing in hull air lubrication systems designed to enhance vessel efficiency and reduce environmental impact.
Background
Founded in 2010 by CEO Noah Silberschmidt, Silverstream Technologies is headquartered in London, with additional offices in Southampton and Shanghai. The company's mission is to transform maritime energy efficiency by making air lubrication a standard feature on all newbuild vessels and providing retrofit solutions for existing ships. Their flagship product, the Silverstream® System, generates a uniform carpet of microbubbles along the hull, reducing frictional resistance and achieving net fuel and emissions savings of 5-10%, depending on vessel type.
Key Strategic Focus
Silverstream Technologies focuses on delivering proven, fuel-agnostic clean technologies to the global shipping sector. The Silverstream® System is applicable across various vessel types, including container ships, LNG carriers, cruise ships, RoRo ferries, and bulk carriers. The company collaborates with leading industry players such as MSC, Maersk, Grimaldi, Shell, Vale, Carnival, and ADNOC L&S, aiming to support the decarbonization of the shipping industry.
Financials and Funding
Between 2018 and 2021, Silverstream Technologies achieved a compound annual revenue growth rate of 426%, positioning it as the fourth fastest-growing company in Europe and the third in the UK, according to the Financial Times' FT 1000: Europe’s Fastest Growing Companies 2023 report. As of November 2024, the company reported annual revenues of approximately $13.2 million, with a workforce of around 120 employees.
Pipeline Development
As of August 2023, Silverstream Technologies had secured orders for its system on 179 vessels across various segments, with 44 ships already in service with the technology installed. The company aims to reach 500 orders by 2025, driven by strong momentum and rising demand for energy-efficient solutions in the maritime industry.
Technological Platform and Innovation
The Silverstream® System is a proprietary air lubrication technology that creates a uniform carpet of microbubbles along the hull's flat bottom, reducing frictional resistance between the vessel and seawater. This innovation leads to significant fuel and emissions savings and is effective across all sea states. The system is suitable for both newbuild and retrofit applications, with installations completed in as little as 10 days. Its effectiveness has been independently verified by organizations such as Lloyd’s Register, HSVA, and the University of Southampton.
Leadership Team
- Noah Silberschmidt, Founder & CEO
- N. C., Chief Digital and Information Officer
- S. C., Chief Operations Officer
- C. P., Chief Commercial Officer
- A. D., Chief Financial Officer
- S. P., Chief Operating Officer
- A. M., Chief Commercial Officer
- P. S., Chief Engineer
- K. O., Vice President of Marketing and Communications
The leadership team brings extensive experience in maritime technology, operations, and business development, driving the company's growth and innovation.
Leadership Changes
In December 2022, Silverstream Technologies appointed a new Chief People Officer to lead the company's human resources strategy and support its rapid growth.
Competitor Profile
Market Insights and Dynamics
The maritime clean technology sector is experiencing significant growth, driven by stringent environmental regulations and the industry's commitment to reducing greenhouse gas emissions. Technologies like air lubrication systems are gaining traction as shipowners seek effective solutions to enhance fuel efficiency and comply with international standards.
Competitor Analysis
While Silverstream Technologies is a leader in air lubrication technology, other companies are developing alternative solutions to improve vessel efficiency and reduce emissions. These competitors focus on areas such as hull coatings, propulsion system enhancements, and energy-saving devices.
Strategic Collaborations and Partnerships
Silverstream Technologies has established partnerships with 19 shipyards globally, facilitating the widespread installation of its system. In September 2023, the company announced an agreement with COSCO Shipping Heavy Industry Co. Ltd (CHI) to explore opportunities for installing the Silverstream® System in CHI shipyards and localizing the supply chain in China.
Operational Insights
Silverstream Technologies' competitive advantage lies in its proven, fuel-agnostic air lubrication technology, which offers significant fuel and emissions savings. The company's ability to retrofit existing vessels and its strong partnerships with major shipowners and shipyards position it favorably in the market.
Strategic Opportunities and Future Directions
Looking ahead, Silverstream Technologies aims to expand its market presence by reaching 500 orders by 2025. The company is also focusing on enhancing its technological offerings and exploring new markets to support the global shipping industry's decarbonization efforts.
Contact Information
- Website: silverstream-tech.com
- LinkedIn: linkedin.com/company/silverstream-technologies
For more information, please visit the company's official website or LinkedIn profile.
