Silverstream Technologies, a provider of air lubrication, has been ranked as the fourth-fastest-growing company in Europe in a recent Financial Times analysis, as reported by Ship & Bunker.
Increased revenue growth
In a statement posted on its website on Wednesday, Silverstream said that between 2018 and 2021, its compound annual revenue growth increased at an average pace of 426%. In the FR’s Europe’s Fastest Growing Companies 2023 report, Silverstream was ranked third in the UK and fourth overall in Europe.
In order to reduce friction between the ship’s hull and the surrounding water, Silversteam manufactures air lubrication systems that can reduce fuel costs for ships by 5–10%. In addition to conserving fuel, the reduction of emissions is crucial in light of forthcoming GHG rules for the maritime sector.
In the announcement, CEO Noah Sliberschmidt stated, “To be recognised as one of the fastest-growing enterprises in Europe – not only in shipping but across all industries – is quite significant indeed.”
“In 2023, the future for Silverstream and the shipping sector is radically different from that of a few years ago, and we are already seeing even more interest in proven efficiency solutions like ours as the necessity for significant action on climate change is evident.”
“We will remain steadfast in our mission to support the decarbonization of the shipping sector and to realise our ambition of having air lubrication technology be a standard application on all newbuild vessels in the global fleet, as well as being a here-and-now technology to help reduce global fleet emissions,” the statement reads.
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Source: Ship & Bunker