Mercuria Invests in Digital Bunkering Transparency Firm Rise-X

by Ship & Bunker News Team
Tuesday August 9, 2022

Global commodity trading firm Mercuria has invested in Australian start-up Rise-X, which uses digital technologies to increase transparency in bunkering and other commodity markets.

The firm has invested $1.5 million into Rise-X, news provider The West Australian reported on Monday. Rise-X has received $2.7 million in total of private investment.

Mercuria subsidiary Minerva Bunkering worked with Rise-X last year to launch ADP Clear Pte, the company marketing its digital bunkering platform.

Mercuria was one of Rise-X's founding customers, according to the report.

In 2020 RIse-X partnered with National University Singapore and classification society DNV on a data science project seeking to predict illegal bunkering activity.