ADIPEC named Data Gumbo as Oil and Gas Start-Up Company of the Year

Data Gumbo was named Oil and Gas Start-Up Company of the Year at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) Awards Gala, the Middle East’s largest annual oil and gas awards event.

“Our industrial smart contract network, GumboNet, offers the new gold standard for organizations to execute business better through guaranteed transactional certainty across commercial relationships,” said Andrew Bruce, CEO, and Founder, Data Gumbo.

He added,  “It’s an honor to be recognized by ADIPEC for our work and commitment to expanding our network across the global energy industry, allowing companies to eliminate the lack of trust in industrial sectors, streamline contract execution and capture significant cost savings.”

Based on its continuing innovation, excellent business model, and the stunning impact of its worldwide industrial smart contract network, Data Gumbo was recognized for its ability to transform the energy market. The company was also recognized for its collaboration with global energy players, such as its pilot with a Texas-based hydrocarbon exploration company and a multinational chemical company to automate produced water haulage from field reading to invoice payment, and its collaboration with Blockchain for Energy to automate produced water haulage from field reading to invoice payment.

GumboNetTM is the only smart contract network that successfully integrates real-time sensor level and field data to validate transactions and connect companies, suppliers, and vendors in a secure trusted network to eliminate 95% of payment delays, overpayments, disputes, and complicated reconciliations, saving organizations over 10% on contract execution costs.

The ADIPEC Awards, now in their 11th year, recognize the projects, innovators, and ideas at the vanguard of the energy industry‘s change as it responds to the growing need for sustainable energy and progresses toward a carbon-free future. An impartial committee of global energy executives assessed over 700 entries from more than 50 countries to choose the winners, handpicking the industry’s best-in-class that showcased digitization, sustainability, research, innovation, and more.