Your Partner for the Energy Transition
Leveraging the power of digitalization to provide :
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Industry-leading supply chain traceability platform
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Regulatory and Compliance Advisory
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IIoT, Traceability Tools and low carbon technologies
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As showcased at the Blockchain Hub, World Economic Forum Davos 2023
FAQs
What is ProFuelTrace? ProFuelTrace is a digital traceability platform to track the entire supply chain of various fuel types. The platform provides various functionalities such as chain of custody across all locations within your organization, as well across all organizations throughout the supply chain. With the vision to make all verified data about a fuel product available at any time and at any location, delivered through the security of a blockchain-powered architecture, regulatory compliance becomes as easy as A-B-C.
Why now? The energy industry is under an immense pressure to decarbonize. A range of national and international regulations and compliance schemes have been introduced, or will soon be introduced, with the goal to accelarate the energy transition. Besides regulatory compliance, the complete energy supply chain is planning voluntary initiatives to deliver carbon savings. Traceability of any product type from the oil/gas well, used cooking oil collection point, or production farm for green ammonia, down to the end user, is now often a prerequisite to be compliant to regulations and display your organization's commitment to net zero. Supply chain traceability requirements have evolved beyond manual data management tools and classical ERP systems. The need of NOW is a secure, digital platform for all organizations along a supply chain to exchange product information such as provenance and sustainability certificates.
What’s the value proposition? The ProFuelTrace traceability platform aims to help organizations reduce compliance costs, while substantially reducing the business risk arising from non-compliance. Data management about product transactions becomes very easy, with real product data from your suppliers being automatically and securely made available. In the same way, your clients can automatically access transaction data, substantially reducing the risk of non-compliance arising from human errors or missing documentation. Your organization always retains full control of your data, only allowing sharing with selected parties through extremely secure, permissioned exchange protocols running on a distributed network. The data is already validated through compliance of your supply chain partners, combined with blockchain-powered immutability and additional security checks implemented in the system. Through real-time tracking of a product's journey across the supply chain, and regulation-driven data dashboards, the auditing process becomes extremely easy as well.
Which certification schemes are supported? The ProFuelTrace platform has been designed with regulatory compliance at its core. Some of the most prominent international regulations such as the EU-Renewable Energy Directive (RED) are at the core of the platform design, with certification schemes such as ISCC, RSB, 2BSvs, RSPO and FSC being supported. The entire traceability platform is built using a "lego blocks" design, making adptation to all regulatory updates as well as voluntary commitments regarding source, GHG emissions, etc. extremely easy to track and verify.
What are the concrete benefits of implementing ProFuelTrace in my organization? By using ProFuelTrace, your organization can substantially reduce the risk of non-compliance, and avoid heavy fines, loss of reputation, or even bankruptcy. The streamlined data management process has helped organizations save up to USD 50,000 per site in compliance costs. By implementing an innovative, blockchain-powered system built around regulations and environmental claims, you display a clear commitment from your organization to support the energy transition.
Which industries are supported? The ProFuelTrace is designed keeping the specific needs of the energy industry in general, and the fuel industry in particular, in mind. The implementation across the biofuels and biomass supply chain has already been demonstrated. As the need for non-carbon fuels such as hydrogen and ammonia increases, we will be launching further product releases to support the particular needs of those supply chains.
Is my data secure? The ProFuelTrace platform has been designed around a cutting-edge data security infrastructure. Built as a distributed system using blockchain principles, you have the option to have all data for your organization saved on your own data servers. Data exchange with supply chain partners is built around the "Zero Knowledge Proof" principle, where only the information required for a certain transaction is shared, and that only after your express permission to share!
How can I learn more? A prototype version of the chain of custody module ProMassBalance has already been launched – request a demo. We will be launching the ProFuelTrace platform in Q1 2023. Enlist your organization for the waiting list, or get onboard to be one of the first to trial this innovative and easy-to-use platform.
