A new shipping technology giant was born on Tuesday after ZeroNorth and Alpha Ori Technologies (AOT) completed their merger.
The optimisation platforms said they had gained all the required regulatory approvals to kick off their alliance, which will use the ZeroNorth name.
The aim now is to offer more value to a client list of more than 200 companies and 4,500 ships.
Singapore’s AOT, set up by Synergy Marine founder Rajesh Unni, specialises in using the internet of things, sensors and high-frequency data, while Copenhagen-based ZeroNorth’s platform aims to cut emissions through data-driven vessel optimisation.
ZeroNorth, backed by AP Moller Holding, Cargill and PSG Equity, has fleet deals with X-Press Feeders, Cargill, Louis Dreyfus Co and Vitol.
Customers will now be able to tap into a single source of data to improve their profit and reduce their impact on the planet, in line with their operational goals and strategies, the companies said.
The tie-up was announced in October 2023 to boost green global trade.
“The deal will create a beacon of empowerment for the industry, improving decision-making on a wide scale across the value chain,” the partners added.
The company’s management team will continue to be led by Soren Meyer in his role as chief executive.
The group will retain its global office presence, headquartered in Copenhagen, and a combined workforce of 780 people.
Set up in 2020, ZeroNorth’s list of takeover deals is already lengthy: marine fuel supply software company BTS, Prosmar Bunkering and bunkering optimisation outfit ClearLynx.
Next bold step
Meyer said: “Today marks the next bold step for a new ZeroNorth.
“The combined company will have the size to accelerate the impact on the shipping and maritime value chain. It is a statement of intent to the market, underlining the power and potential of our partnership and platform to support customers’ economic and environmental strategic goals,” he added.
The company says that since 2022, its technology has prevented more than 1.4m tonnes of CO2 from being emitted into the atmosphere.
Last month, ZeroNorth made another acquisition, buying tanker owner Euronav’s Fleet Automatic Statistics & Tracking (FAST) platform.
As part of the deal, the Saverys family-controlled company became a customer of ZeroNorth’s full platform offering.
ZeroNorth will manage FAST, which collects advanced high-frequency data in real-time from sensors across Euronav’s fleet of VLCCs and suezmaxes.
