Passive air lubrication innovator Armada reports successful seed funding round

Funding round will see CoolCo gp ahead with Armada installations. [Image: Adobe Stock]

Birkenhead, U.K., headquartered passive air lubrication system developer Armada Technologies reports that it has closed its seed funding round, raising a total of $3.2 million.

The seed funding round will see LNG carrier operator Cool Company Management Ltd. (CoolCo) part-fund Armada equipment that will be installed on its vessels.

Armada’s second-generation passive hull air lubrication system (PALS) uses a venturi system, partnered with the vessel’s forward motion, to create a bubble spread that lubricates the hull without using compressors. Armada’s PALS is tailored to adapt bubble production precisely to a ship’s type and operating conditions — including speed, depth, or weather — offering a continuous bubble layer, even with deeper draft vessels and lower speeds.

Ecochlor, Inc., which handles Armada’s global sales, 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 receiving continued support from the Oxford University associated entrepreneurial network, having Oxford Seed Fund participate in the round.

Armada says the funding round is a pivotal moment for the company, underlining the industry’s confidence in the company’s passive air lubrication system (PALS).

Commenting on the PALS technology, Richard Tyrrell, CEO of CoolCo, highlighted its potential to boost operational efficiency and promote the clean maritime agenda crucial for maritime decarbonization.

“We are proud to collaborate in the development of this exciting technology and help Armada deliver on its potential,” he said.

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, said: “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.”