Silverstream Technologies, the market leader in air lubrication technology for the global shipping industry, today announced the appointment of Andrew Derodra as Chief Financial Officer to bring financial leadership to the ongoing development and implementation of the company’s ambitious growth strategy.
Andrew’s extensive career spans senior finance and strategic roles in multiple sectors including FMCG, healthcare and software. He brings a wealth of experience as CFO in FTSE-listed, private equity-owned and founder-led businesses, including in the delivery of shareholder value, equity and debt financing, and M&A. Andrew’s expertise in driving commercial effectiveness for successful, growing enterprises will be a considerable asset to Silverstream in the coming years.
Andrew joins Silverstream as it scales up exponentially to deliver a proven decarbonisation solution for application across the global maritime industry. The company’s market-leading air lubrication technology, the Silverstream® System, delivers 5-10% net fuel and emissions savings for oceangoing vessels, by reducing frictional resistance between the hull and the water.
With systems onboard ships owned by the likes of MSC, Shell, Grimaldi, Carnival, Vale and many others, Silverstream’s patented solution has acheived strong orderbook growth in recent years. Now surpassing 100 contracted vessels and a cumulative order intake of £125 million, Silverstream is an example of a strong and agile British clean technology business.
Andrew Derodra, CFO, Silverstream Technologies, said: “The journey to help reduce global emissions is urgent and quickly gathering pace, and we can see the impact of not doing enough all around us. Silverstream has a proven and cost-effective technology that is applicable across global shipping fleets. I believe this has really started to resonate within the shipping industry, evidenced by the rapid growth in Silverstream’s order intake. I am delighted to be joining the company at this exciting moment in its development, and I look forward to supporting its mission of tangibly influencing maritime decarbonisation.”
Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “As demand for our Silverstream® System increases, it is timely to bring in expert senior financial perspectives to complement the company’s other strengths. Andrew’s excellent track record as a CFO at highly successful businesses across many different sectors will prove a great advantage to Silverstream as we expand our presence in the global maritime industry.
“With offices in London and Shanghai, Silverstream is fortifying its global footprint and reputation as the partner of choice for air lubrication in shipping. We are very proud of our expert and passionate team – which now exceeds 75 staff – who underpin this effort, and are looking forward to welcoming Andrew into our ranks to help drive financial leadership at this pivotal moment for our business.”
Source:Hellenic Shipping News