FuelFWD, a Rotterdam-based startup specialising in digital options for the renewable fuels market, has raised a €1 million seed funding spherical led by Worth Manufacturing unit Ventures, alongside renewed assist from Docklab Ventures and the Port of Rotterdam.
This funding marks the second time each Docklab Ventures and the Port of Rotterdam have invested within the firm, showcasing a continued confidence in its method to streamlining compliance and traceability within the renewable fuels sector.
The funds can be allotted to advancing FuelFWD’s expertise and scaling its operations.
Trying forward, Co-founder and Managing Director Menno van der Zalm expressed optimism in regards to the firm’s development: “Renewable fuels are the long run. Our mission is to assist firms function extra effectively and compliantly in a posh and quickly altering market. With the assist of Docklab Ventures and Worth Manufacturing unit Ventures, we will additional develop our resolution and maximise its potential. We’re happy with the collaboration and look to the long run with confidence.”
Based in 2022 by Menno van der Zalm and Vincent Tribou, FuelFWD emerged as a spin-out from Docklab, a expertise lab and enterprise studio. The administration crew not too long ago welcomed Federico Pereiro, who joins a gaggle of software program builders based mostly in Rotterdam.
The strategic location positions FuelFWD on the coronary heart of one of many largest renewable fuels clusters globally, spanning Rotterdam, Amsterdam, and Antwerp.
FuelFWD’s software program resolution goals to modernise and simplify the compliance processes inherent within the renewable fuels business. The platform digitises handbook workflows, lowering reliance on error-prone programs like spreadsheets, and makes use of AI to flag potential compliance points proactively. This effectivity goals to saves prices and in addition mitigates dangers of non-compliance for biofuel and e-fuel producers and merchants.
A key differentiator of FuelFWD’s providing is its flexibility as each a SaaS and Platform as a Service (PaaS). When adopted throughout provide chains, the platform’s digital gas passport ensures complete traceability from supply to shopper, enhancing the worth of renewable fuels. Crucially, the system operates independently of particular certifications or gas sorts, providing strong auditability and effectivity from the outset.
Johan van Heusden, CFO of Worth Manufacturing unit Ventures, underscored the strategic alignment of this funding, stating: “We’re thrilled so as to add FuelFWD to our portfolio. This startup accelerates the vitality transition by enhancing effectivity and transparency within the renewable fuels provide chain. It completely aligns with our funding give attention to startups that play an lively position in combating local weather change by groundbreaking options,.”
Docklab Ventures’ CEO, Arnoud Jullens, highlighted the broader significance of digital transformation within the sector, including: “The vitality transition requires not solely the manufacturing, storage, and distribution of renewable fuels but in addition digital transformation inside firms and provide chains. FuelFWD is such an answer – the ‘lubricant’ that accelerates the expansion of sustainable gas use.”