A new shipping tech giant is being formed via a deal between Denmark´s tech company maritime operations ZeroNorth and Singapore´s maritime tech firm Alpha Ori Technologies (AOT).
The alliance between the two partners will create a leading maritime optimisation company and a new powerhouse in shipping’s digital transformation, the duo said in a joint statement.
They will joint forces to create the new firm with the aim to boost fuel and efficiency optimisation options across the global shipping fleet.
The two companies plan to generate synergies by combining Alpha Ori Technologies’ expertise in IoT sensors and high frequency data and ZeroNorth’s multi-service technology platform to create new sustainability solutions for shipping.
The combined company intends to operate under the ZeroNorth brand and Søren Meyer, ZeroNorth’s current CEO, will remain at the helm of the joint set-up. Both of AOT’s current co-CEOs, Bala Sankaran and Rajesh Unni, will become non-executive board members of the joint business.
The two partners supply technology to more than 4,000 ships trading globally, and the agreement is expected to enable access to 12 different services using one platform and one data source.
The joint business will remain an independent company. It will furthermore retain its global office presence, headquartered from Copenhagen, and a combined workforce of 780 people, approximately one third of which are full-time consultants.
Søren Meyer, chief executive ZeroNorth speaking on the announcement, said: “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. 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.”
Bala Sankaran, co-CEO Alpha Ori Technologies, added: “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.”
