Armada Technologies Secures $3.2 Million in Seed Funding for 2nd Generation Air Lubrication System
Armada Technologies Raises $3.2M in Seed Funding for Eco-Friendly Maritime Solutions
Armada Technologies (Armada) is pleased to announce the successful close of its seed funding round, raising a total of $3.2 million. This significant achievement includes contributions from both strategic partners and traditional financial investors to advance eco-friendly maritime solutions to support shipowners in achieving their decarbonization objectives.
Cool Company Management Ltd. (CoolCo), a strategic partner within the LNG space, is to part-fund Armada equipment that will be installed on its vessels with this seed round. Ecochlor, Inc. continues to provide investment and technical support to the company as its growth partner. Future Planet Capital, through its Blue Ocean Fund, and Founders Factory, through the Blue Action Accelerator, are also joining the round, with both investors focused on decarbonization within the broader maritime and ocean space. Armada is also pleased to receive continued support from the Oxford entrepreneurial network, having Oxford Seed Fund participate in the round.
This funding round marks a pivotal moment for Armada, underscoring the industry’s confidence in the company’s second generation, Passive Air Lubrication System (PALS). PALS represents a major innovation in hull air lubrication technology by using a venturi system, partnered with the vessel’s forward motion, naturally form an optimal bubble spread that ensures thorough lubrication of the hull without using compressors. Armada’s PALS is tailored to adapt bubble production precisely to a ship’s type and operating conditions — be it speed, depth, or weather — offering a continuous bubble layer, even with deeper draft vessels and lower speeds.
Johann van der Merwe, CFO of Armada, said: “This capital will be utilized to enhance operations, grow our team, and bolster project execution capabilities, thereby accelerating the adoption of cleaner, more efficient technologies within the maritime industry.”
Alex Routledge, CEO of Armada, expressed his enthusiasm, stating: “This funding is a strong validation of our vision, the quality of our technology and, most importantly, our team. With the support of our investors, we’re set to increase options for owners searching for a more effective and energy-efficient technology for their ships.”
In expressing admiration for the PALS technology, Richard Tyrrell, CEO of CoolCo, highlighted its potential to boost operational efficiency and promote the clean maritime agenda crucial for achieving maritime decarbonization objectives. Mr. Tyrrell added: “We are proud to collaborate in the development of this exciting technology and help Armada deliver on its potential.”
Andrew Marshall, CEO of Ecochlor, Inc., emphasized their growth partnership and investment with Armada as a shared dedication to offering sustainable maritime technologies to the market whilst also aiding shipowners in reducing carbon emissions. Ecochlor serves as Armada’s global sales team, supporting the introduction of PALS and other energy-efficient solutions to the maritime industry.
