Armada Technologies has annouced its collaboration with Cool Company Ltd (CoolCo), a leading LNG carrier company, according to the company's release.
Under this partnership, Armada will design, engineer, procure, and provide support for the installation and commissioning of its innovative air lubrication system on a CoolCo vessel scheduled to dry dock in 2024. Once commissioned, CoolCo will conduct sea trials and provide documentation to Armada, following ISO or ITTC guidance, to measure the system’s performance.
CoolCo is a growth-oriented owner, operator, and manager of fuel-efficient liquefied natural gas (“LNG”) carriers. Using its integrated, in-house vessel management platform, CoolCo provides charterers and third-party LNG vessel owners with modern and flexible management and transportation solutions, delivering a lesser-emitting form of energy that supports decarbonization efforts, economic growth, energy security, and improvements in quality of life. CoolCo intends to leverage its industry relationships to make further accretive accretive acquisitions of in-service LNGCs, and to selectively pursue newbuild opportunities.