Home Startups DeepSea acquired by Nabtesco to decarbonize maritime transport

DeepSea acquired by Nabtesco to decarbonize maritime transport

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You only have a minute? Here are 3 takeaways from the article

Japanese engineering giant Nabtesco has become the largest shareholder in Greece-based AI optimization company DeepSea Technologies.

• DeepSea will operate as a center of excellence for AI research and product development

• The deal aims to further help Nabtesco achieve its goal of developing autonomous ships and other AI applications across its business segments.

Founded in 2017 by Roberto Coustas and Konstantinos Kyriakopoulos, AI graduates from Oxford and Cambridge, the Greek startup provides AI-based insights and optimization solutions to shipowners and charterers to help them achieve their decarbonization goals .

deep sea offers its users emissions and environmental compliance and supports them in carrying out environmental and decarbonization reporting, performance indexing and optimization of fuel expenses.

The platform also provides vessel optimization which deals with predictive alerts, automated reporting and the provision of real-time performance data and analytics. With the collected data, the AI ​​software platform helps users optimize their operations by providing advanced performance routing.

Nabtesco has been a investor and shareholder of DeepSea since 2021, and the company will now be part of Nabtesco Marine Control Systems Company to develop the platforms and tools necessary to achieve its goal of scalable semi-autonomous maritime transportation.

“The combined offering will have a profound environmental impact – continuing to reduce fuel consumption with DeepSea platforms, while also focusing on the move towards autonomous vessel operations,” Nabtesco said in a press release.

She will also continue AI-driven research and development spanning Nabtesco’s entire business, which extends beyond maritime, including wind turbines, rail and aviation automation and industrial robotics, the company said in a statement.

“Our common goal is not to move toward autonomous ships, but to move toward optimally efficient ships (and increased autonomy is the way to get there). Concretely, we will combine our products to create a new generation of automation solutions that will enable ships to navigate optimally at all times – with exactly the right voyage plans to achieve their goals. It will be a marriage of AI and hardware that moves the shipping industry toward the simpler, greener future it desperately needs,” the two companies told The Recursive in a statement.

“Deepening our existing partnership with Nabtesco unlocks even greater potential for our technology and approach, and will be key to unlocking the next wave of innovation for our customers.” It’s truly the best of both worlds: DeepSea will maintain its startup culture and focus on disruptive technologies, while leveraging all the expertise and support of a global powerhouse. Konstantinos Kyriakopoulos, CEO and co-founder of DeepSea said in a report.

The DeepSea team has more than 70 specialized engineers, primarily in the areas of AI and software development.

“This is a natural next step for DeepSea as we continue to grow, focusing our industry-leading team of AI specialists on solving some of shipping’s biggest challenges. Nabtesco and DeepSea want to stay ahead of the curve as the industry evolves – and this decision to move forward together will allow our combined product offering to be unmatched,” said Co-Founder and President and Head of Marketing Development of the company, Roberto Coustas, in a press release. .

According to Nabtesco, DeepSea radically improves vessel efficiency for its customers.

“Joining forces will allow us to move even faster towards an exciting future of automation, both in the maritime sector and beyond. We are delighted to announce this news and look forward to generating even greater value for our customers, in each of our market areas, through enhanced innovation and R&D,” added Yukihiro Mizutani, President of Marine Control Systems Company.

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