We started GreenSteam back in 2007 as three Technical University of Copenhagen PhD graduates, and two of us are still here. Being from the Faroe Islands, the marine industry was very close to our hearts and we could see that there was enormous, unexploited potential in using our machine learning knowledge in addressing some of its big challenges.

One of the most significant problems to solve was the fact that ships use a lot of fuel, and those ships are pretty inefficient in how they use it. We could see that there were quite a few startups looking at marine fuel efficiency, but to us, we only had to look at vessels bobbing about on the ocean to see that machine learning was the logical technology to address this big, green, challenge.

After several years of intense development and testing with innovators and early adopters, our core machine learning technology matured. Alongside this, GreenSteam steadily grew too and we launched our first product, GreenSteam Optimiser in 2011 and immediately signed our first customer. Since then, we’ve seen dramatic growth, opening offices in Poland and the UK, and enjoyed commercial success across all vessel types and classes.