CALGARY, AB, Oct. 4, 2022 /PRNewswire/ - The U.S. Department of Homeland Security (DHS) Science and Technology Directorate's (S&T) Silicon Valley Innovation Program (SVIP) awarded a Phase 3 contract to Neoflow Inc. The contract will further the development of the Neoflow Platform for Natural Gas (Phase 3) - following the steps of the existing contract for Crude Oil, awarded early this year. The contract was awarded under the auspices of the DHS Preventing Forgery & Counterfeiting of Certificates and Licenses solicitation. The solicitation supports the development of standards-based technologies to continue DHS's efforts in utilizing Verifiable Credentials (W3C) and distributed ledger technology (DLT) to modernize operations.
The work is a continuation of a thorough process that began in 2019. The Neoflow platform will digitally trace Natural Gas and Oil as it moves through the supply chain between Canada and the United States using innovative technologies such as distributed ledger technology, Verifiable Credentials and decentralized identifiers.
"I am pleased with the validation of the Neoflow platform that this contract represents. This is recognition of the effort of our industry and DHS partners and the Neoflow team to develop a technology will modernize the cross-border movement of oil and natural gas", said Jim Oosterbaan, CEO of Neoflow. "This ground-breaking technology will enable a close to real-time supply chain view of these two important commodities representing approximately $100B annually in Canadian imports into the United States."
To accomplish this, Neoflow is working with U.S. Customs and Border Protection (CBP) and companies in the oil and natural gas sector.
SVIP is one of S&T's programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. Companies participating in SVIP are eligible for non-dilutive funding over four phases to develop and adapt commercial technologies for homeland security use cases.
Neoflow Inc. is a Calgary based company, a team of digital innovators, entrepreneurs and energy industry experts. We have a common passion for transformation in the energy industry along with a common belief that the Neoflow platform will create opportunities to transform the energy value chain. To learn more about Neoflow visit our website www.neoflow.energy and follow us on LinkedIn, Twitter, and Medium.
The SVIP is one of S&T's programs and tools to fund innovation and work with private sector partners to advance homeland security solutions. Companies participating in the SVIP are eligible for non-dilutive funding over four phases to develop and adapt commercial technologies for homeland security use cases.