FuelTrust is pleased to announce our partnership with BlockApps, a blockchain app developer, to provide advanced capabilities to their TraceCarbon Network. Together we will provide sustainable traceability for the CO2 ecosystem, enabling compliance and transparency across the entire fuel lifecycle.
Decarbonization and wider Environmental Social Governance (ESG) have never been more relevant – or critical – to the shipping industry than they are today. New regulations and demands from shareholders, financiers and customers are accelerating shipping’s energy transition away from the most polluting fossil fuels to clean, low-carbon energy. This is applying pressure on the industry to become more transparent and accountable, including better tracing and tracking of CO2 emissions.
With FuelTrust Bunker Insights, TraceCarbon customers gain access and visibility to their own emissions and efficiency performance, as well as those of their downstream customers. We further enhance the value of TraceCarbon by validating CO2 declarations and helping TraceCarbon customers discover, understand, and proactively improve their overall Class 1, 2, and 3 emission results. This enables customers to improve their ESG outcomes, reduce carbon tax liabilities, and meet their corporate environmental commitments.
“FuelTrust brings added intelligence to the TraceCarbon Network by generating exacting CO2 data for our customers using existing transaction information,” said John Chappell, BlockApps Director of Business Development – Energy. “This allows them to validate CO2 declarations using advanced AI and Blockchain technologies – all integrated in TraceCarbon – for maximum value to our network customers.”
FuelTrust’s patented AI Digital Chemist and Consumable Resources Lifecycle Ledger provides TraceCarbon customers with:
- Exacting details of the CO2 and NOX potential and actual emissions from fuels
- Pre-purchase potential emissions
- Actual consumption emissions
- Fuel content and quality validation across the entire fuel lifecycle
- Fuel fraud, loss, and compliance discovery and alerts
Here at FuelTrust, we believe the creation of an open traceability platform for CO2 across the energy industry is critical to driving transparency, accountability, and, most of all, real environmental improvements in the current and future energy market. Partnering with BlockApps is one more way we continue to build a trusted and sustainable fuel ecosystem for the industry.
We invite you to learn more about how Bunker Insights provides transparency and traceability across the lifecycle of fuels.