Air Lubrication Firm Silverstream Technologies Appoints CFO

by Ship & Bunker News Team
Friday September 16, 2022

Air lubrication systems provider Silverstream Technologies has appointed a chief financial officer.

Andrew Derodra has joined the firm as CFO in London as of last month, the company said in a statement on its website this week.

Derodra was previously CFO for software firm Chorus Intelligence.

"Andrew’s extensive career spans senior finance and strategic roles in multiple sectors including FMCG, healthcare and software," the company said in the statement.

"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."

Silverstream produces air lubrication systems that reduce ships' friction with the water around them, reducing fuel consumption. Systems like this are likely to see strong demand growth in the immediate future as the shipping industry grapples with upcoming GHG regulations like the carbon intensity indicator.

In July the firm told Ship & Bunker it had seen about 100 orders in total, with 80-90% coming in over the past two years.

Ship & Bunker News Team
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