Silverstream Names Derodra CFO

British marine air lubrication company Silverstream Technologies announced it has appointed Andrew Derodra as Chief Financial Officer.

Derodra’s career spans senior finance and strategic roles in multiple sectors including FMCG, healthcare and software. He brings 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.

Derodra joins Silverstream as it scales up to deliver a decarbonization solution for application across the global maritime industry. The company’s air lubrication technology, the Silverstream System, delivers 5-10% net fuel and emissions savings for oceangoing vessels, by reducing frictional resistance between the hull and the water.

With systems onboard ships owned by the likes of MSC, Shell, Grimaldi, Carnival, Vale and many others, Silverstream’s patented solution now surpasses 100 contracted vessels and a cumulative order intake of £125 million.

Derodra said, “The journey to help reduce global emissions is urgent and quickly gathering pace, and we can see the impact of not doing enough all around us. Silverstream has a proven and cost-effective technology that is applicable across global shipping fleets. I believe this has really started to resonate within the shipping industry, evidenced by the rapid growth in Silverstream’s order intake. I am delighted to be joining the company at this exciting moment in its development, and I look forward to supporting its mission of tangibly influencing maritime decarbonization.”

Noah Silberschmidt, Founder & CEO, Silverstream Technologies, said, “As demand for our Silverstream System increases, it is timely to bring in expert senior financial perspectives to complement the company’s other strengths. Andrew’s excellent track record as a CFO at highly 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 is fortifying 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 – which now exceeds 75 staff – who underpin this effort, and are looking forward to welcoming Andrew into our ranks to help drive financial leadership at this pivotal moment for our business.”