Armada Technologies has announced the successful close of its seed funding round, raising a total of US$ 3.2m, which includes contributions from both strategic partners and traditional financial investors to advance eco-friendly maritime solutions to support shipowners in achieving their decarbonisation objectives.
Cool Company Management (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 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 joining the round, with both investors focused on decarbonisation 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, underlining the industry’s interest in the company’s second generation, Passive Air Lubrication System (PALS). PALS uses a venturi system, partnered with the vessel’s forward motion, naturally forming an optimal bubble spread that ensures thorough lubrication of the hull without using compressors. Armada’s PALS is tailored to adapt bubble production to a ship’s type and operating conditions — be it speed, depth, or weather — offering a continuous bubble layer, even with deeper draught vessels and lower speeds.
Johann van der Merwe, CFO Armada said: “This capital will be utilised 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 Armada, added: “This funding is a strong validation of our vision, the quality of our technology and 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.”
Richard Tyrrell, CEO CoolCo, said: “We are proud to collaborate in the development of this exciting technology and help Armada deliver on its potential.”
