Silverstream Technologies appoints David Colson of GTT to its Board of Directors

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Silverstream Technologies, a leading provider of air lubrication systems for hulls, has announced the appointment of David Colson, Commercial VP, Gaztransport & Technigaz (GTT) to its Board of Directors.

Mr Colson currently oversees all of GTT’s commercial activities, including responsibility for shipyard and licensee development, ship-owner business development, corporate communication and strategy and marketing teams. He is a Member of GTT’s Executive Committee, a Board Member of several Group subsidiaries and GTT’s representative on the Boards of Industry bodies SGMF (Society for Gas as a Marine Fuel) and SEA-LNG.

Silverstream’s new Board member has extensive commercial experience in the licensing of technology to shipyards, particularly in Korea and China, as well as invaluable knowledge of owners’ and charterers’ specific requirements. His appointment signals Silverstream’s increasing stronghold in the Southeast Asian shipbuilding market, developed over the past decade in scaling and exporting its proprietary air lubrication technology, the Silverstream® System, in partnership with key shipbuilding partners in the region.

David Colson, Commercial VP, GTT & Board Member, Silverstream Technologies, commented: “I have followed Silverstream’s impressive growth journey in recent years, so when I was offered an advisory role within the company, I was very pleased to accept. Silverstream has strong, proven system performance demonstrated by sea trials and in-operation data from the world’s largest shipping firms. Silverstream’s figures are better than other products on the market, and it is developing software and tools to monitor and further enhance the in-service performance of its systems.”

Mr Colson continued: “Silverstream’s technology is not just a newbuild proposition; the market for retrofit installations is even greater with the IMO’s EEXI and CII standards coming into effect next year. Owners will need to improve the performance of their older tonnage, and proven clean technologies like the Silverstream® System offer a compelling solution to these landmark regulations.

“It’s exciting to be a part of a company that is making a real impact in shipping’s crucial decarbonisation pathway, and I look forward to offering my advice and support in the coming years.”

Noah Silberschmidt, Founder & CEO of Silverstream Technologies, commented: “We are delighted to be welcoming David to Silverstream’s Board of Directors. His highly relevant experience in design and manufacturing for the transportation and oil and gas sectors is a fantastic asset to our business. As Silverstream’s orderbook and global export capacity expands significantly, David’s expertise in driving commercial best practice in a world-leading LNG company in GTT will help guide us through the next phase of our exciting growth journey.”

GTT is the leading global supplier of liquified natural gas (LNG) containment systems. For more than half a century, the company has optimised the storage space and reduced the construction and operation costs of ships or tanks equipped with its containment systems. GTT helps to streamline the whole LNG supply chain, using its expertise to meet customer requirements while responding to evolving international regulations, thereby contributing to fleet decarbonisation.

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