Maritime technology company ZeroNorth has announced the acquisition of Prosmar Bunkering, an online platform for the bunker fuel market.
The deal sees ZeroNorth acquire Prosmar’s Bunker Dashboard system and Bunker Pricer module, which will operate under the Prosmar Bunkering name. Prosmar’s two other services, Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services, are not included as part of the deal with ZeroNorth.
ZeroNorth will provide investment and commercial support to enable Prosmar Bunkering to accelerate its growth by increasing the company’s commercial presence in relevant markets, as well as supporting the continued development of its product portfolio.
Prosmar Bunkering will operate as an independent, standalone business, with the same management team currently running the company.
This is the first acquisition by ZeroNorth since its capital equity raise of $50 million earlier this year. In December 2021, ZeroNorth acquired ClearLynx – now ZeroNorth Bunker – another online bunker platform.
“The bunker industry and its full value chain are integral to the process of decarbonising shipping. The ‘business as usual’ way of operating must now be fundamentally challenged if we are to propel the industry forward rapidly enough to save the planet and meet tightening regulations,” said Søren Meyer, CEO, ZeroNorth.
“We have a clear ambition to help the industry with its transition to clean fuels. By acquiring Prosmar Bunkering, we believe that we can further accelerate and pursue our goal to decarbonise shipping, together with the industry.”