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July 26, 2022

Silverstream and Mitsui to advance shipping decarbonisation in Japan

The deal is expected to improve Silverstream’s relationships with local Japanese owners, shipyards and design institutions.

Silverstream Technologies has reached a memorandum of understanding (MoU) with Mitsui & Co to accelerate the adoption of the former’s air lubrication technology in Japan.

The objective of the partnership is to drive the decarbonisation push in the country’s shipbuilding sector.

As part of the MoU, Mitsui & Co Europe and Mitsui & Co’s wholly owned arm Orient Marine will work with Silverstream to boost the uptake of the Silverstream System air lubrication technology in Japan.

This is expected to facilitate Asian shipowners’ decarbonisation initiatives.

Furthermore, the collaboration with Mitsui & Co Europe and Orient Marine is expected to improve Silverstream’s relationships with local Japanese owners, shipyards and design institutions as well as support the firm’s commercial strategy in the region.

The alliance will also enable the exchange of intelligence and local market knowledge between the three companies.

Japan has set a 2050 net-zero greenhouse gas (GHG) emissions target for its shipping industry.

The country supports the design and delivery of greener ships as part of its plan to reinforce its position in the international maritime sector.

Silverstream Technologies founder and CEO Noah Silberschmidt said: “We are very happy to announce our strategic partnership with Mitsui & Co Europe Plc and Orient Marine at what is proving to be a critical moment for Japan’s shipping industry.

“In an important maritime market like Japan, being able to count on a local industry-leading player who endorses our technology and shares our vision of a more sustainable and efficient industry is extremely valuable.”

Last October, Wärtsilä selected Silverstream’s air lubrication system for a trial basis deployment on an AP Moller-Maersk-owned large boxship.

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