Armada Technologies develops the second-generation Passive Air Lubrication System (PALS), a hull air lubrication technology that uses a venturi system and the vessel’s forward motion to form an optimal bubble spread without compressors. PALS adapts bubble production to a ship’s type and operating conditions — including speed, depth, and weather — and offers a continuous bubble layer even for deeper draft vessels and lower speeds. Armada closed a $3.2 million seed funding round made up of strategic partners and traditional financial investors to advance its eco-friendly maritime solutions. Cool Company Management (CoolCo) will part-fund Armada equipment to be installed on its vessels, while Ecochlor acts as a Growth Partner providing investment, technical support and serving as Armada’s global sales team. Future Planet Capital (through its Blue Ocean Fund), Founders Factory (through the Blue Action Accelerator), and Oxford Seed Fund also participated in the round. Management says the capital will be used to enhance operations, grow the team, bolster project execution, and accelerate adoption of Armada’s technology across the maritime industry.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

May 2024