LR has acquired GreenSteam, a marine data intelligence company specialising in improving vessel efficiency through machine learning, according to the company's release.
The acquisition will be integrated and managed by i4 Insight, a subsidiary of Lloyd’s Register. i4 Insight, part of LR's Maritime Performance Services business, is a digital platform that allows shipowners, operators and charterers to easily access insights on vessel performance and fuel consumption across their fleets. LR is expanding its portfolio of risk, technical advisory, commercial efficiency, vessel performance and voyage optimisation services to unlock and drive growth for clients, part of its strategy to become the go-to partner and advisor to the maritime industry and broader ocean economy, following the June 2021 divestment of its Business Assurance and Inspection Services division.
The acquisition will see GreenSteam’s vast array of machine learning services, from fouling analysis and trim planning, to their dynamic trim and speed optimisers, fully integrated with the i4 Insight platform. This move expands on LR's vision of solving complex problems with integrated software solutions further driving reductions in greenhouse gas emissions and operating costs.
GreenSteam were advised by Pantokrator and BrownRudnick.