TX-DATA-GUMBO
27.1.2021 07:02:10 CET | Business Wire | Press release
Data Gumbo , provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain — today announced that it enables real-time operational expenses (OPEX) visibility for energy operators and service providers across Europe. By using field operating data to digitally confirm that commercial terms of existing contracts have been satisfied, smart contracts trigger automated payments between commercial counterparties to deliver real-time visibility into contract spend.
“Energy operators and service providers are in need of information that can assist them in making difficult economic choices,” said Ove Sandve, Norway Country Manager at Data Gumbo. “GumboNet’s real-time OPEX capabilities unlock sustained digital visibility into financial health and management that can set up a company to tie field measurements to payments driving transactional certainty, improving cash flow, increasing value, and ultimately, attracting better investors.”
Managing production dynamics including labor, supervision and maintenance; chemicals and supplies; fuel, power and water; equipment rental and usage; among other services, requires considerable time and manpower. The current manual approach results in error-prone and resource-intensive paper invoices that contribute to hefty dispute and resolution processes in addition to administrative hassles.
Smart contracts provide visibility into real-time OPEX that opens the door for European energy companies to match contractual terms without human interface. Taking a typical 16+ step process down to three while ensuring transparency, accuracy and trust, GumboNet eradicates the need to rely on field estimates to book accruals and empowers operators and service providers with the financial visibility required to comprehensively digest variable production costs, as often as daily.
About Data Gumbo
Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Beyond its Houston office, the company has subsidiary offices in Stavanger, Norway and in London, UK. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. Data Gumbo was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and was named to CB Insights Blockchain 50 , among other awards . For more information, visit www.datagumbo.com or follow on LinkedIn , Twitter and Facebook .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210126005146/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Carbon Measures Opens Singapore Office and Launches First In-Country Pilot to Advance Industrial Decarbonization in Hard-to-Abate Sectors12.11.2026 12:00:00 CET | Press release
Today, at COP31, Carbon Measures announced the establishment of its Singapore office, with support from the Singapore Economic Development Board (EDB). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112827071/en/ Carbon Measures opens Singapore office and launches first in-country pilot to advance industrial decarbonization in hard-to-abate sectors. The Singapore office will serve as Carbon Measures’ Asia-Pacific hub, expanding its technical expertise and knowledge capabilities while strengthening engagement with key stakeholders across the region. The office will focus on advancing industrial decarbonization policies for hard-to-abate sectors, convening companies, nonprofit organizations, academic institutions and other partners to guide the Pilot’s development and implementation. “We welcome Carbon Measures’ establishment of its first office in the region. By piloting new approaches for product-level carbon accounting,
Focused Support Delivers Link 16 to Royal Netherlands Air and Space Force MQ-9 Fleet With Cavok STRIKE12.11.2026 12:00:00 CET | Press release
Focused Support LLC today announced the successful deployment of Cavok® STRIKE to the Royal Netherlands Air and Space Force (RNLASF), providing its MQ-9 fleet with enhanced Link 16 participation capabilities without requiring modifications to the aircraft. The deployment represents a significant advance in integrating remotely piloted aircraft into the shared tactical picture, improving situational awareness, interoperability, and coordination across joint and coalition forces. The installation marks a key milestone for Focused Support as Cavok STRIKE expands into European military operations. Integrated within the Cavok Mission Ecosystem, STRIKE addresses a persistent tactical challenge: extending Link 16 to non-traditional participants without costly or complex aircraft modifications. Focused Support Founder and CEO, Jonathan Shill, remarked, “Two decades ago we asked for Link 16 on the MQ-1 Predator but were denied because the 8 lb. terminal represented a half hour of time on statio
Ahead of Frieze Abu Dhabi, 421 Arts Campus Spotlights Emerging Artistic Practices12.11.2026 11:15:00 CET | Press release
As Abu Dhabi prepares to welcome the international art community for the inaugural Frieze Abu Dhabi this November, 421 Arts Campus presents two exhibitions highlighting artistic experimentation, research, and emerging creative practices in the UAE and wider region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112518634/en/ Juma Alhaj, Revelation, 2026 at 421 Arts Campus. Courtesy of 421 and the artist. (Photography by: Ismail Noor, Seeing Things) On view until 10 January 2027, the exhibitions bring together distinct artistic approaches, from Juma Alhaj’s exploration of reflection and self-discovery to an examination of how knowledge is formed and shared through informal modes of communication. Revelation, the first institutional solo exhibition by Emirati artist Juma Alhaj, marks a significant evolution in his practice. Grounded in reading, journaling, and philosophical inquiry, the exhibition explores reflection, solit
a2z Radiology AI Receives EU MDR Certification for AI That Detects 182 Findings Across Head, Chest, Abdomen and Pelvis CT12.11.2026 09:00:00 CET | Press release
a2z-Drafter is the first AI product certified under the EU Medical Device Regulation to support both detection and report drafting across head, chest, abdomen and pelvis CT. a2z Radiology AI Inc. today announced that a2z-Drafter has been certified under the EU Medical Device Regulation (MDR). The software supports triage, detection and report drafting on CT scans of the head, chest, abdomen and/or pelvis. “Radiology teams have had to piece together separate AI tools for each condition and body region,” said Samir Rajpurkar, co-founder and CEO of a2z Radiology AI. “a2z-Drafter is one product that works on head, chest and abdomen-pelvis CT scans and gives the radiologist a structured starting point for the report. This certification lets us bring that to radiology teams in the European Union.” a2z-Drafter detects 182 validated radiological findings on CT studies of the head, chest, abdomen and/or pelvis, with supplementary attributes for selected findings. The findings span acute conditi
KiddeFenwal Secures A2P System Certification from Centre National de Prévention et de Protection in France12.11.2026 09:00:00 CET | Press release
Assurance Prévention Protection benchmark from CNPP marks key milestone in the global adoption of NATURA™ inert gas fire suppression system.Certification elevates proven technology that conserves water while safeguarding assets and minimizing downtime. KiddeFenwal, the global leader in fire protection and safety controls, has received an Assurance Prévention Protection (A2P) System Certification for its NATURA™ inert gas fire suppression system. The designation from France’s Centre National de Prévention et de Protection (CNPP), one of the most respected fire safety testing and certification organizations in Europe, illustrates how KiddeFenwal is expanding the reach of its industry-leading technologies throughout the world with the support of independent, third-party evaluators. “KiddeFenwal is grateful to CNPP for standing behind our proven NATURA™ system,” said Rekha Agrawal, CEO of KiddeFenwal. “The certification enables our systems to protect the facilities and institutions that ma
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom