SteelTrace (Maastricht, The Netherlands), a digital platform provider using blockchain technology to manage the steel supply chain, has been selected by Chevron Technology Ventures, LLC (CTV) as part of its Catalyst Program.
This program was launched by Chevron in 2017 to promote and accelerate innovation from early-stage companies that may benefit the energy sector. The selection of SteelTrace marks a significant milestone for the company and follows its initial trial within a Chevron project in 2021, according to the company.
SteelTrace is described by the company as a platform that gathers all quality-related data of steel products in real-time for easy access to end users. The platform’s goal is to improve efficiency, traceability, and transparency across operations All test data and digital signatures are available and verified with blockchain technology to ensure security while enhancing supply chain provenance.
“We are honored and delighted to be selected by Chevron as part of the Catalyst Program,” says Tom Meulendijks, CEO and founder of SteelTrace. “The selection of SteelTrace highlights the impact we believe our solution will have on the industry and the role digital transformation has within the supply chain. To be recognized as part of this initiative is testament to our team and our software platform’s potential.”
The program will further accelerate SteelTrace’s mission to leverage new technologies, as well as blockchain and cloud computing solutions, through global digital platforms. Achieving the ISO 27001:2017 certification in December 2022, the company has a team of 10 with plans to expand its headcount throughout 2023.
Source: SteelTrace, www.steeltrace.co.