Clean technology company Silverstream Technologies, Japan’s Mitsui & Co and Orient Marine, a Mitsui subsidiary, are partnering to promote Silverstream’s air lubrication technology in the Japanese market
The partnership follows a memorandum of understanding signed between Mitsui and Silverstream. Orient Marine provides specialised services for ship-related businesses.
The partners will promote the uptake of the Silverstream System air lubrication technology in the Japanese market and support Asian shipowners’ efforts to decarbonise. Silverstream also hopes the collaboration with Mitsui & Co and Orient Marine will help strengthen its standing with local Japanese owners, shipyards and design institutions, and advance the company’s commercial strategy in the region by securing customer leads and other opportunities. The agreement reportedly allows for intelligence and local market knowledge sharing among the partners.
Silverstream chief executive Noah Silberschmidt commented, “We are very happy to announce our strategic partnership with Mitsui & Co 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.”
“We see the Japan-owned fleet and newbuild segments as an important market for our technology in the near future, and we are optimistic our new partners will help to deepen our ties to the country and its key maritime players.”
Japan has set a target of net-zero greenhouse gas emissions by 2050. As part of its strategy to strengthen its presence in the international maritime industry, the country is encouraging its shipbuilding industry to design and supply greener vessels.
Orient Marine executive vice president operating officer, Naoki Shinohara added, “Through the collaboration with Silverstream, we aim to contribute to the decarbonisation of the shipping industry.”
In April, Norwegian firm Klaveness Combination Carriers agreed to install a new version of Silverstream’s air lubrication system on up to 11 vessels and late last year Maersk agreed to trial the system aboard a large container vessel.
