E-Navigation company NAVTOR is expanding its business with the acquisition of Tres Solutions, a vessel analytics and performance optimisation firm headquartered in Houston, Texas.
Founded in 2016, Tres Solutions’ core software and services platform, Tres Vessel Analytics, aims to support improved environmental efficiency through reductions in fuel consumption, leveraging vessel-specific data to model performance baselines for ships. The company claims to have helped key customers save over 45,000 MT of fuel during operations to date.
Following the deal, Tres Solutions’ software will be linked with NAVTOR’s recently introduced fleet performance application NavFleet, which launched to the market on 1 February after development and testing with international shipowners, to create a unified platform to help shipowners and operators enhance their operations.
“Vessel performance optimisation is an obvious next step for NAVTOR, utilising our cyber secure, seamlessly connected and cloud-based e-Navigation ecosystem as a platform to enable real-time data sharing, analytics and enhanced decision making,” said NAVTOR CEO Tor Svanes.
“The launch of NavFleet gives our customers a unique shoreside tool for better fleet management, and the addition of Tres Solutions’ expertise and software delivers the power to generate optimal value – taking performance data and extracting the intelligence needed to enable smarter, more profitable, and efficient operations.”
“We always like to stay one step ahead, developing innovative solutions that help solve this industry’s challenges and meet customer needs. Performance optimisation is key to a more sustainable business future, so it’s a natural progression. We’ve been impressed by the Tres team and their development for some time, and now look forward to bringing an expanded suite of navigation and vessel analytics solutions to the market.”
In August 2020, Accel-KKR, a Silicon Valley headquartered operation with over $10 billion in capital commitments, took a majority stake in NAVTOR, which will assist the company in this expansion drive and in rolling out these new products.