Maritime clean technology company Silverstream Technologies has been named the fourth fastest-growing company in Europe by the Financial Times.
The seventh edition of the FT 1000: Europe’s Fastest Growing Companies listing, which recognises the top 1,000 companies in Europe based on revenue growth between 2018 and 2021, placed Silverstream as the fourth fastest-growing company in Europe and the third fastest-growing company in the UK. Over this period, Silverstream grew its revenue at a compound annual rate of 426%.
Noah Silberschmidt, Founder & CEO, of Silverstream Technologies, said: “This is a truly incredible achievement for Silverstream, and is something we never thought possible when we set out on this journey over a decade ago. To be recognised as one of the fastest-growing businesses in Europe – not just in shipping, but across all sectors – is very special indeed. We have had to work so hard to demonstrate the validity of our technology and to build trust within the industry. Thanks to some genuine thought leaders, some of whom placed their faith in us many years ago, we have been on a fantastic trajectory building our customer base and delivering innovation in our products.”
“In 2023, the outlook for Silverstream and for the shipping industry is dramatically different to that of a few years ago, and we are already seeing even more interest in proven efficiency solutions like ours as the imperative for serious action on climate change is clear. We will continue steadfast in our mission to support the decarbonisation of the shipping sector and to realise our ambition of air lubrication technology being a standard application on all newbuild vessels in the global fleet. I would like to thank wholeheartedly all of our colleagues, partners, customers and friends who made this amazing achievement possible.”
Since 2021, when the survey ended, the company has continued its growth, doubling its sales orders and revenue in 2022 compared with the year prior.
Silverstream also opened a new office in Shanghai in 2022 to address growing demand, requiring a local presence in China to work closely with its expanding network of partner shipbuilders across Southeast Asia.
The company has recently introduced a Chief Data Officer (CDO) to lead the company’s data strategy as it applies advanced data analytics, AI and machine learning practices to drive further value for its customers.
