NABTESCO BECOMES THE PRIMARY SHAREHOLDER IN DEEPSEA TECHNOLOGIES, MARKING FURTHER PROGRESS TOWARDS AUTONOMOUS VESSEL DEVELOPMENT
Press release 18/07/23; 0700 UTC
Japan-based automation multinational Nabtesco has made a major investment in the future of AI for shipping, becoming the primary shareholder in Greece-headquartered AI optimisation company DeepSea Technologies. DeepSea will continue its growth within the maritime industry while becoming a centre of excellence for AI research and product development. This decision will support Nabtesco’s move towards the development of autonomous vessels and other AI applications in its business sectors.
Nabtesco has been an investor and shareholder in DeepSea since 2021. DeepSea will join Nabtesco Marine Control Systems Company in developing the platforms and tools required to achieve its goal of scalable semi-autonomous shipping. It will also pursue AI-focused research and development covering the entire scope of Nabtesco’s activity, which extends beyond maritime, including wind turbines, rail and aviation automation and industrial robotics.
DeepSea will continue to focus on the development of its established software platforms, Cassandra & Pythia, which enable shipping companies to decrease fuel consumption and emissions by optimising vessels and voyages respectively.
“DeepSea’s expertise and team of AI specialists are now well-known in the shipping industry, and are driving a radical improvement to vessel efficiency for their customers. We have been very impressed with their commercial traction and calibre of research since we first invested in the company. Joining forces will enable us to progress even faster towards an exciting future of automation, both within maritime and beyond. We’re excited to announce this news and look forward to driving even greater value for our clients, within each of our market areas, through enhanced innovation and R&D.”
Mr. Yukihiro Mizutani, President, Marine Control Systems Company, Executive Officer of Nabtesco
DeepSea has over 70 specialised engineers, mainly in the fields of Artificial Intelligence and software development. It will continue to operate as an autonomous company and will continue to be managed by the two original founders, with Dr. Konstantinos Kyriakopoulos as CEO and Mr. Roberto Coustas as President and head of market development. DeepSea will retain its team, premises and independent brand identity, and will continue to be an autonomous research centre for the development of applications and products based on Artificial Intelligence.
“The deepening of 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 technology, whilst harnessing all the expertise and support of a global powerhouse.”
Dr. Konstantinos Kyriakopoulos
“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 the biggest challenges in shipping. Nabtesco and DeepSea want to remain one step ahead as the sector evolves – and this decision to move forwards together will allow our combined product offering to be unmatched.”