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Silverstream celebrates King’s Award at Windsor Castle

Last week, we celebrated a proud moment as our Founder & CEO, Noah Silberschmidt, received the King’s Award for Enterprise in the Innovation category from His Majesty The King at Windsor Castle.

The award recognises the real-world impact of the Silverstream® System – our patented air lubrication technology that’s helping shipping cut fuel consumption and emissions today, while supporting compliance with the regulations of tomorrow.  

During the ceremony, Noah had the honour of speaking with the King, who expressed strong interest in the maritime energy transition. It was a meaningful conversation covering the importance of energy efficiency technologies, future fuels, and the role we play in helping shipowners navigate this shift. His Majesty was very supportive of our mission and its contribution to reducing global pollution.  

With more than 200 orders, over 100 installations, and a growing team of 130+ colleagues, this moment also reflects the scale we’ve reached – and the confidence placed in us by shipowners worldwide.  

The Silverstream® System fundamentally changes the interaction between water and a vessel. It shears air from air release units (ARUs) in the hull to create a uniform carpet of microbubbles that covers the full flat bottom of a vessel. As a result, frictional resistance is decreased – significantly reducing fuel consumption and associated emissions.     

This latest recognition builds on our 2023 King’s Award for Enterprise in the International Trade category, which celebrated our success in exporting the Silverstream® System and working with global maritime partners to scale uptake of our proven technology worldwide.    

The King’s Awards scheme was instituted by Royal Warrant in 1965, with the first Awards made in 1966 under the scheme’s original title, The Queen’s Award to Industry.     

Silverstream honoured with second King’s Award for Enterprise

Silverstream has received the King’s Award for Enterprise in the Innovation category, the UK’s most prestigious accolade celebrating business excellence. This marks the second time that Silverstream has received a King’s Award, following our 2023 recognition in the International Trade category.

The award recognises our patented air lubrication technology, the Silverstream® System, as a truly innovative clean technology solution that is making a meaningful impact on maritime decarbonisation.

It comes at a pivotal moment for the shipping industry, as decarbonisation regulations tighten and become more complex, particularly following developments at MEPC 83, the IMO’s committee responsible for environmental matters. Silverstream is helping owners navigate this uncertainty – supporting them to act now with proven fuel and emissions savings that deliver immediate benefits while preparing them for what’s ahead.

Our Founder & CEO Noah Silberschmidt said: “We are delighted to win our second King’s Award, which recognises both the dedication of our exceptional team and the real-world impact of our technology on maritime decarbonisation. Innovation is not just something we do at Silverstream – it’s part of who we are. This award is a testament to the technical experts across our business who continuously refine and improve our system. Their work enables us to help the industry meet today’s environmental and regulatory challenges with confidence. It’s a proud moment for all of us.”

The Silverstream® System fundamentally changes the interaction between water and a vessel. It shears air from air release units (ARUs) in the hull to create a uniform carpet of microbubbles that covers the full flat bottom of a vessel. As a result, frictional resistance is decreased – significantly reducing fuel consumption and associated emissions.

This latest recognition builds on our 2023 King’s Award for Enterprise in the International Trade category, which celebrated our success in exporting the Silverstream® System and working with global maritime partners to scale uptake of our proven technology worldwide.

The King’s Awards scheme was instituted by Royal Warrant in 1965, with the first Awards made in 1966 under the scheme’s original title, The Queen’s Award to Industry.

His Majesty The King will host a Reception for The King’s Awards for Enterprise recipients at Windsor Castle. For more updates, including new pictures from Windsor, follow us on LinkedIn here.

Silverstream features in FT 1000 Rankings for second year running

For two consecutive years in row, Silverstream Technologies has been featured in the Financial Times’ ‘FT 1000: Europe’s Fastest Growing Companies’ list, claiming an impressive 23rd spot among Europe’s fastest-growing companies and securing the 3rd position among the UK’s powerhouse companies, with a compound annual growth rate (CAGR) of 243.50%. 

For the eight edition of its rankings, the FT has sought out the 1,000 European companies with the strongest revenue growth between 2019 and 2022. More details of the ranking will be covered in an upcoming FT special report. 

Noah Silberschmidt, CEO and Founder of Silverstream, commented: “Breaking into the top 25 of FT’s fastest-growing companies in Europe for the second year in a row is a resounding victory for the Silverstream team and our game-changing technology. It’s irrefutable proof that the Silverstream® System is not just a choice, but the choice for newbuild vessels and the go-to retrofit option, revolutionising vessel efficiency.” 

Air lubrication’s commercialisation and scaling helps to solve the fundamental challenge of vessel energy efficiency in shipping, setting the industry up for the cleaner, greener vessels that it needs to achieve the International Maritime Organization’s carbon reduction goals. As the technology evolves, it also provides ship owners and operators with a means to improve vessel efficiency in the long-term and for the full lifecycle of their ships. 

As of March 2024, there are now 196 vessels contracted to have the Silverstream® System installed across all shipping segments, with 63 systems in-service today. 37 of the current orders are for LNGCs and there are currently 13 systems already in-service on LNGCs. Our customers include Carnival, MSC, Maersk, Grimaldi, Shell, Vale, Knutsen and ADNOC L&S, amongst other major industry names. 

Silverstream wins the Seatrade Cruise Product of the Year Award

We are delighted to have won the Seatrade Cruise Product of the Year award! This is recognition of the innovative hard work and commitment of the entire Silverstream team.

The Silverstream® System enables cruise owners and operators to meet customer, regulator, and wider societal demands for improved environmental performance. The technology releases a carpet of bubbles to reduce the frictional resistance between the hull and the water, reducing average net fuel consumption and GHG emissions by 5-10%, as well as lowering fuel bills.

The system also has important associated benefits for the cruise industry. For example, it supports hull anti-fouling and it can also reduce underwater radiated noise (URN) for marine life, as well as reducing noise onboard to improve crew and passenger wellbeing. This is our conclusion based on recent research from Professor of Marine Engineering at University of London, John Carlton. It has all of these benefits that increasingly environmentally conscious customers and cruise operators are concerned about, while also significantly reducing fuel bills.

Silverstream’s first ever commercial installation of the Silverstream® System was back in 2015 on Norwegian Joy, operated by Norwegian Cruise Line. This was followed by installations on Princess Cruises’ Diamond Princess and Regal Princess, and, in H1 2023, Sky Princess and Enchanted Princess.

In Autumn 2022, Carnival signed a large fleet deal with Silverstream to install the system across its cruise brands; a clear recognition of the value and return on investment the technology offers cruise operators. These cruise clean technology trailblazers have also been proactive in supporting testing, pilot projects and performance verification.

Piers Strong, our Business Development Manager, attended Seatrade Europe 2023 and was at the ceremony to collect the award. Piers also featured on a panel discussion at the event where he continued to spread the word about the positive impact that the Silverstream® System is having within the cruise sector.

Silverstream honoured with King’s Award for Enterprise

Silverstream has been honoured with a King’s Award for Enterprise in the category of International Trade, the UK’s highest accolade in recognising success in business. This award highlights Silverstream’s positive environmental impact, growth trajectory and status as maritime clean tech leader. 

The award, which is valid for the next five years, recognises Silverstream’s achievements in exporting the Silverstream® System overseas and in collaborating with a range of global maritime industry partners to scale uptake of the proven technology that can significantly support the shipping industry’s decarbonisation. 

It reflects Silverstream’s market status as a clean technology leader and highlights the deep focus the company has placed on building export links for its air lubrication system, targeting engagement with key shipbuilding and shipowning markets around the world. 

Formerly known as the Queen’s Award for Enterprise, the accolade has been renamed following the Accession of King Charles III. The King’s Awards scheme was instituted by Royal Warrant in 1965, with the first Awards made in 1966 under the scheme’s original title, The Queen’s Award to Industry. Every April, winners of the Awards are officially announced in a special supplement of the London Gazette. 

Winning the accolade gives Silverstream the right to display the Awards’ prestigious emblem on its marketing materials and fly the King’s Awards flag at the organisation’s headquarters. Silverstream will also be presented with the award by one of The King’s representatives, a Lord-Lieutenant, and attend a Royal reception at Buckingham Palace. 

Speaking on the award, Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said: “We are delighted to have received the King’s Award for Enterprise in the International Trade category. It recognises the hard work that every member of the Silverstream team has invested for more than a decade to commercially realise our technology within the maritime sector. This Award belongs to everyone at Silverstream who is working to design, install, scale and improve our technology on vessels around the world, as well as those who are building the global partnerships that help to underpin our business. 

“We must also recognise that this is an important moment not just for Silverstream, but for maritime clean technology as a whole. This accolade helps put our industry on the map at the highest level and demonstrates shipping’s need for proven and viable solutions to address its considerable decarbonisation challenge.” 

News of Silverstream’s King’s Award comes after the company featured in the Financial Times’ FT 1000: Europe’s Fastest Growing Companies 2023 list – where it ranked as the fourth fastest-growing company in Europe and the third fastest-growing company in the UK. 

 

Silverstream wins Maritime UK Clean Maritime Innovator 2023 Award

We are delighted to announce that we have won the Clean Maritime Innovator Award at the Maritime UK Awards 2023.

The category recognises a company or individual who has developed, tested or operated technologies in the UK that have made a significant contribution to the transition to zero emissions for the maritime sector.

Congratulations to our dedicated team of air lubrication experts who made this possible (see picture below). Thank you to Daniel Mann, Programme Director (left) and Luke Read, Sales Engineer (right) for representing us at the awards ceremony.

We believe the Silverstream® System can become a standard technology on all newbuild vessels in the global fleet, as well as a go-to retrofit option. It is encouraging to see the system and its impact on maritime greenhouse gas emissions continuing to be recognised in the UK and worldwide.

At Silverstream, we passionately believe in the role of proven, innovative solutions to enable a more sustainable shipping industry.