Silverstream Technologies Appoints Andrew Derodra as Chief Financial Officer to Provide Financial Leadership to Company’s Ambitious Growth Strategy

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Silverstream Technologies, the market leader in air lubrication technology for the global shipping industry, today announced the appointment of Andrew Derodra as Chief Financial Officer to provide financial leadership to the development and the ongoing implementation of the company’s ambitious growth strategy.

Andrew’s long career spans financial and strategic leadership positions across several industries, including consumer packaged goods, healthcare and software. He brings extensive experience as a CFO in FTSE-listed, privately-owned and founder-led businesses, including shareholder value creation, equity and debt financing, and mergers and acquisitions. purchases. Andrew’s expertise in business effectiveness for successful and growing businesses will be a tremendous asset to Silverstream in the years to come.

Andrew joins Silverstream as it expands expotically to provide a proven decarbonization solution for application in the global maritime industry. The company’s market-leading air lubrication technology, the Silverstream® System, provides net fuel and emissions savings of 5-10% for ocean-going vessels by reducing frictional resistance between hull and water.

With shipboard systems owned by companies such as MSC, Shell, Grimaldi, Carnival, Vale and many more, Silverstream’s patented solution has seen strong growth in order backlog in recent years. Now with over 100 vessels under contract and a cumulative order intake of £125m, Silverstream is an example of a strong and agile UK cleantech company.

Andrew Derodra, CFO of Silverstream Technologies, said: “The journey to help reduce global emissions is urgent and rapidly accelerating, and we can see the impact of not doing enough around us. Silverstream has proven, cost-effective technology that applies to all global shipping fleets. I think it’s really started to resonate in the shipping industry, as evidenced by the rapid growth of Silverstream’s order intake. I am delighted to join the company at this exciting time in its development, and I look forward to supporting its mission to concretely influence maritime decarbonization.

Andrew Derodra, CFO, Silverstream Technologies

Noah Silberschmidt, Founder and CEO of Silverstream Technologies, said, “As demand for our Silverstream® system grows, it’s time to bring in senior financial experts to complement the company’s other strengths. Andrew’s excellent track record as a CFO in very successful businesses across many different sectors will prove a great advantage to Silverstream as we expand our presence in the global maritime industry.

“With offices in London and Shanghai, Silverstream strengthens its global footprint and reputation as the partner of choice for air lubrication in shipping. We are very proud of our expert and passionate team – now numbering more than 75 employees – who support this effort, and we look forward to welcoming Andrew to our ranks to help build financial leadership at this pivotal time for our business.
Source: Silverstream Technologies

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