While Canada’s oil and natural gas resources are primarily located in the western provinces and East Coast offshore, the industry has a nation-wide reach. From manufactured goods to technical expertise, the industry’s supply chain extends to all parts of the country — including downtown Toronto.
Canadian Tech Company Focused on Oil and Gas Supply Chain Optimization
Meet Validere Technologies, a high-tech startup founded in 2016. Through innovations such as artificial intelligence and industrial ‘internet of things’ (IoT), Validere is focused on making the industry’s supply chain ever more efficient. By developing ways to track product quality in real time (monitoring characteristics of oil and natural gas that could affect how the product moves through a pipeline, or which refinery might purchase product with certain qualities), Validere helps industry clients maximize revenues by getting the right product to the right customer in the most efficient way possible.“Crises increase the importance of efficiencies and accelerate the adoption of technology. Energy companies have always been innovators in response to incredible pressure,” says Validere co-founder and CEO Nouman Ahmad.
The current low price of oil, coupled with the COVID-19 pandemic, have affected the oil and natural gas sector including its wide-ranging supply chain. Ahmad says his company has a role to play in Canada’s economic recovery, enabling Canadian oil producers to compete in this low-price environment through technology and innovation.
“They are adopting technology to ensure they survive and we want that technology to be developed in Canada,” Ahmad continues. “Validere is currently helping companies reduce inefficiencies to compete globally in this new pricing environment and their support allows us to continue building a technology success story in our Toronto and Calgary offices.”