CALGARY, AB, Sept. 25, 2023 /CNW/ – Neoflow, a Calgary primarily based power know-how firm, has efficiently performed an integration take a look at with the U.S. CBP and 13 oil business firms utilizing the Neoflow Crude Oil Platform. This milestone brings the Crude Oil Platform nearer to operational standing.
After 4 years of effort and collaboration with U.S. Customs and Border Safety, the Division of Homeland Safety’s Science and Expertise Directorate, and 13 Trade individuals Neoflow, a Calgary primarily based power know-how firm performed a profitable know-how and enterprise demonstration of Neoflow’s Crude Oil Platform. The Platform creates a digital “passport” (a singular identifier), for every cargo of oil, and tracks it by means of the supply chain.
“The profitable demonstration is a vital milestone on the trail to industrial operation. I thank our companions at CBP, DHS (Division of Homeland Safety) and Trade for his or her assist. This digital innovation will permit the U.S. CBP to streamline the motion of crude oil into the U.S., making border clearance swift and environment friendly, and modernizing the processes related to the cross-border motion of crude oil,” stated Jim Oosterbaan, CEO of Neoflow. Canadian imports of Crude Oil and Pure Fuel into america exceeded $ 110 Billion throughout 2022.
The Neoflow Platform is constructed on a basis of interoperable requirements (together with Verifiable Credentials, Decentralized Identifiers, and Traceability Vocabulary from the W3C Consortium).
CBP’s partnership with Neoflow is targeted on creating the know-how to hint crude and pure gasoline by means of pipelines from Canada into the US. This traceability will allow importers to entry duty-free desire beneath the USMCA (United States Mexico Canada Settlement).
Vincent Annunciato, CBP Director stated “Our 2023 take a look at created the likelihood for extra developments. With bipartisan assist, CBP will prolong its dedication to international requirements by evaluating its potential to confirm the origin of transactions and challenge credentials. The 2024 checks are a prelude to restricted manufacturing for the 5 Silicon Valley Innovation Program initiatives (pipeline oil, metal, pure gasoline, e-commerce, and meals security) and the bigger CBP modernization effort, the Automated Industrial Setting (ACE) 2.0.”
Neoflow Inc. is a Calgary primarily based firm, a workforce of digital innovators, entrepreneurs, and power business consultants. Now we have a standard ardour for transformation within the power business together with a standard perception that the Neoflow platform will create alternatives to remodel the power worth chain. To be taught extra about Neoflow go to our web site www.neoflow.power and observe us on LinkedIn, Twitter, and Medium.
The SVIP is one among S&T’s applications and instruments to fund innovation and work with personal sector companions to advance homeland safety options. Corporations collaborating within the SVIP are eligible for non-dilutive funding over 4 phases to develop and adapt industrial applied sciences for homeland safety use instances.
SOURCE Neoflow
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