Oil & Gas Innovation OGI Winter 2018 Digital Version - Page 41

Shell Funds Start-Up Applied Blockchain to Develop Blockchain Tech for Energy Sector Applied Blockchain Ltd has secured its first funding round with investments from Shell Trading International Ltd (“Shell”) and Calibrate Partners LLP for minority stakes in the company. Founded in 2015 and based in London’s Level39 Fintech Accelerator, Applied Blockchain develops blockchain applications with a focus on distributed ledger technology and smart contracts. The start-up grew organically through 20 successful client engagements in two years and was featured in Gartner’s 2017 ‘Market Guide for Blockchain Consulting and Proof-of-Concept Development Services’ report. Its clients include global players in banking, telecoms, automotive, manufacturing, aviation, as well as a range of blockchain start-ups and partners. This agreement marks the first entry into the energy industry for Applied Blockchain. P rior to making an investment in Applied Blockchain alongside Calibrate Partners LLP, Shell selected the start-up as winner of a development competition for Shell’s downstream businesses. The initial funding will be used to accelerate growth, and develop and launch technology for private, consortium and interchain business blockchain networks. Adi Ben-Ari, Founder & CEO at Applied Blockchain, said: “Our experience as one of the earliest companies delivering blockchain solutions into production for both start-ups and perspective on the value, and challenges, associated with the technology in the real world. The investments and partnerships will accelerate our growth and enable us to deploy our solutions to a truly global business ecosystem.” Johan Krebbers, Chief Technology Officer for IT at Shell Global Solutions International, said: “Blockchain applications have huge potential to shake up how we do things in the energy industry from streamlining process, to simplifying how we work with our suppliers and serve our customers. Investing in Applied Blockchain is part of our commitment to use digitalisation to create value in our core business and develop new business models.” Remy Kesrouani, Fund Manager and Partner at Calibrate, who also participated in the investment round, said: “We believe in the long-term promise and process innovation that blockchain brings and believe Applied Blockchain is strategically positioned to lead in this space. We are particularly excited to partner with Shell and Applied Blockchain to innovate in commodity trading.” • Pure System = Reliable Operation 24/7 Ocean Team removes efficiently damaging particles and deposits. The result is a significantly higher utilization efficiency, optimal operating conditions, and extended life time on key system components. Ocean Team services: • Oil Care: Flushing, filtering, and oil analysis/monitoring • Chemical Cleaning: Removal of organic and unorganic deposits • Mechanical Cleaning: Includes ultra sound, steam and high pressure rinse • Customized Purifying Solutions: Development, design, and construction of innovative systems As a practicle case, Wintershall Nordzee successfully tested the purification technology, using Ocean Team Scandinavia’s Super Critical CO 2 technology by cleaning with liquid CO 2 . Purifying 38 km, 1/2 inch I.D. pipe in an umbilical with turbulent flow all the way through, with a Reynolds no. over 25.000, the fluid carrying systems were cleaned from NAS1638 class 12 (top of the contamination scale), to a NAS 1638 class 3 (most pure). This have never been done before. Vesterhavsgade 56, DK-6700 Esbjerg, Ph: +45 7518 0077 Unavngivet 1 1 24 hours service Super Critical CO 2 Unit ots@oceanteam.eu www.oceanteam.eu 31-08-2017 12:39:13