From this week, the company’s eco efficiency technology will be known as the Silverstream Air Lubrication Technology.
The timing of the name change is in line with impending significant milestones for Silverstream as its Air Lubrication Technology moves further towards a commercial platform, the company said.
Commenting on the move, Noah Silberschmidt, CEO, Silverstream Technologies, said:
“We have pioneered the development of air lubrication for many years and much time and resource has gone into R&D and refining the system. The Silverstream Air Lubrication Technology is now a proven solutions-based product.
“In line with the advancements of our technology and the company since its inception 10 years ago, we have now entered a new commercial period hence the change in name. Rebranding to Silverstream represents an exciting and definitive new era for the company.
“Operational shipping costs are dominated by bunker fuel and in all likelihood will continue to rise. The shipping industry is hungry for solutions that reduce fuel and meet with current and pending regulations – both as part of newbuild programmes and for retrofitting.
“As a result, there are significant opportunities for clean technology manufacturers with viable and proven innovations, particularly when one technology can offer a net saving of between 5% and 10%. Over the past year, Silverstream has been working with leading industry partners, including classification societies to further refine our technology and we are looking forward to announcing what we anticipate will be the first of many landmark commercial developments in the coming weeks,”he concluded.