ZeroNorth, Alpha Ori Technologies to boost shipping efficiency
AOT's expertise in IoT sensors & ZeroNorth's tech platform to accelerate transition to sustainable shipping
ZeroNorth and Alpha Ori Technologies (AOT) will form an independent maritime optimisation company to drive shipping’s digital transformation.
"Subject to regulatory approval, the two companies plan to generate synergies by combining AOT's expertise in IoT sensors and high frequency data and ZeroNorth's multi-service technology platform to create new sustainability solutions for shipping. The agreement will allow the two companies to serve their customer bases from a single offering and create a strong data ecosystem on one platform with multiple services within the market," says a release from ZeroNorth.
The new company will operate under the ZeroNorth brand, and Søren Meyer, CEO, ZeroNorth, will lead the operations. Bala Sankaran and Rajesh Unni, current Co-CEOs of AOT, will become non-executive board members of the joint business, the release added.
"The two proposed partners already supply cutting-edge technology to more than 4,000 ships trading globally. The agreement will enable customers to access 12 different services using one platform and one data source. This will help to significantly advance industry developments and policy efforts across the global trade value chain."
The joint business will remain an independent company with robust financial backing and heritage from top industry leaders, leveraging their deep shipping knowledge to deliver solutions that positively impact the sector, the release added.
The company, headquartered from Copenhagen, will have a workforce of 780 people, approximately one-third of which are full-time consultants.
“I am delighted to be able to announce this agreement with Alpha Ori Technologies, which we truly believe represents the exciting next step in shipping’s digital and sustainability transformation," says Meyer. "This is a strategic move that will not just benefit our customers, but the sector as a whole. It will enable us to serve the industry as its leading maritime optimisation provider of choice and underlines our commitment to bettering both profit and planet. It will accelerate our technology development, strengthen our innovative mindset, and enable us to continue to help our customers focus on profit and planet in an increasingly complex and volatile world.”
Sankaran adds: “Joining forces with ZeroNorth secures a market leading position for our companies, and enables us to propel the industry towards greater profitability and sustainability outcomes. We believe that this is the perfect time for us to scale and do bigger things together, and this agreement is perfectly in line with our ambition to drive sustainability, performance, and business results for our customers.
“ZeroNorth is an ideal fit for AOT's ambitions regarding digital transformation of the Maritime industry due to our considerable expertise and specialism in high frequency data. The agreement with ZeroNorth brings significant advantages, enabling us to leverage our combined scale for increased investment and improved customer value.”