Technology company ZeroNorth is set to acquire Prosmar Bunkering, an online platform supporting the bunker fuel market
ZeroNorth will acquire Prosmar’s Bunker Dashboard service and pricing module, which will operate under the Prosmar Bunkering name. Prosmar’s two other services, Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services, are not included in the deal.
ZeroNorth said the acquisition aims to accelerate digitalisation and transparency in the bunker industry and further support the decarbonisation transition within the marine value chain. The company believes by offering investment and support, it can help grow Prosmar Bunkering, boost its commercial presence in relevant markets and continue to develop its market offerings.
Post-acquisition, Prosmar will operate as an independent, standalone business, with the same management team currently running the company.
Commenting on the deal, Prosmar chief executive Ali Jourabchi remarked, “Prosmar Bunkering will continue to provide its customers with practical software to simplify the bunker process. This partnership with ZeroNorth will now enable us to further develop our products, rapidly bring new solutions to market and propel change in the bunker space, while operating as an independent company.”
The company will continue to offer a cross-functional dashboard to simplify and streamline the bunker process, as well as support suppliers, buyers and brokers with their bunker fuel needs.
This is ZeroNorth’s first acquisition since it raised US$50M in fresh capital earlier this year. Last December, ZeroNorth acquired ClearLynx – another industry bunker platform. And in June, shortsea operator Unifeeder signed a three-year deal to use ClearLynx and ZeroNorth’s voyage planning services.
ZeroNorth chief executive Søren Meyer said, “The bunker industry and its full value chain are integral to the process of decarbonising shipping. The ‘business as usual’ way of operating must now be fundamentally challenged if we are to propel the industry forward rapidly enough to save the planet and meet tightening regulations.”
“We have a clear ambition to help the industry with its transition to clean fuels. By acquiring Prosmar Bunkering, we believe we can further accelerate and pursue our goal to decarbonise shipping, together with the industry.”
