Mercuria Energy Group subsidiary Minerva Bunkering has teamed up with intelligent technology company rise-x to set up ADP Clear in Singapore.
For supporting comprehensive bunkering solutions in a digital ecosystem, the new spin-off digital entity integrates rise-x’s proprietary DIANA Ecosystem Operating Platform (EOP) and Minerva’s Advanced Delivery Platform (ADP).
Designed and developed by Minerva alongside its technology partner Curl Tech, the ADP is an integrated hardware and software solution.
It provides all details of bunkering operations such as quality of fuel delivered, operational timelines and quantity obtained as per mass flow meter profiles in real-time.
The client can access this information from anywhere through the customer portal.
Minerva CEO Tyler Baron said: “Our partnership with rise-x allows us to extend the capabilities of ADP, driving end to end digitalisation and the resulting visibility and cost savings that reach from the front office to the back office and beyond.”
rise-x is the developer of QuayChain, which is an open-access market-facing platform that streamlines the online sale, purchase, supply and settlement of marine fuel.
Commenting on the latest alliance, rise-x co-founder and CEO Rowan Fenn said: “With QuayChain, we tested early-stage concepts using our blockchain-enabled DIANA platform to build out multi-party workflows for autonomous operations.
“We were looking for a forward-thinking partner, committed to bringing efficiency, trust and transparency to the global marine fuel market, and one who could bring scope and scale to the QuayChain concepts. In Tyler Baron and Minerva, we found that partner.”
Through ADP Clear, the ADP and QuayChain will integrate both solutions with an aim to provide one seamless customer experience.
The new partnership will facilitate workflow, from fuel purchasing, supply and settlement, with complete transparency from nomination through settlement.
It will also allow simplified one-click procuring and contract nominations as well as real-time data analysis, compliance management and reporting for minimising regulatory cost and risk.