Tue Raguse, CEO of Ofiniti. Image Credit: Ofiniti

• Ofiniti to take over ZeroNorth's electronic bunker delivery note solution and its customers
• Third acquisition since the DNV spin-out, after Angsana Technology and Teqplay
• ZeroNorth to concentrate bunkering investment on procurement, pricing, planning, and agentic AI
• No financial terms or completion date disclosed

Digital bunkering platform Ofiniti has agreed to acquire ZeroNorth's electronic bunker delivery note (eBDN) solution, the two companies announced in a joint press release on Tuesday.

On completion the eBDN technology and its customers will move onto Ofiniti's Bunker Operating System, and the companies say they will work together with customers to ensure continuity of service.

The deal covers BTS Pte. Ltd., the Singapore legal entity and licence holder behind the eBDN product, which ZeroNorth bought in February 2023.

It is Ofiniti's third acquisition since it was spun out of DNV in September 2024, following Singapore-based Angsana Technology and Dutch maritime technology company Teqplay.

No financial terms were disclosed, and the release gave no date for completion.

ZeroNorth describes the sale as a deliberate portfolio decision, narrowing its bunkering investment to procurement, pricing, and planning.

"eBDN has an important role to play in the continued digitalization of fuel operations, and we are proud of what we have built. We believe Ofiniti is well placed to take eBDN forward and continue developing it for the industry," said ZeroNorth CEO Søren Andersen.

"ZeroNorth will continue to invest in bunkering, focusing on the areas where we can create the greatest impact for the industry: connecting fuel decisions more closely with voyage and vessel operations, while increasingly applying agentic AI across the voyage."

The company launched its agentic AI system Propel in August, with agents for fuel workflows still in development.

"Bunkering has been built around fragmented systems, data and ways of working, and we see a huge opportunity to change that," said Ofiniti CEO Tue Raguse.

"We are deliberately building Ofiniti to connect supply, demand and infrastructure in one ecosystem. That means growing organically, but also bringing together strong businesses and technology where that can create better solutions for customers and a more connected industry."

Ofiniti says it now serves more than 200 customers and has processed more than 50,000 bunker operations since the spin-out, and puts its share of Singapore's digital bunkering market at an estimated 40%.

In a recent interview with Ship & Bunker, Raguse said he expected close to a fifth of all marine fuel delivered in 2027 to pass through the platform.

"We are here to invest, contribute and build for the long term. Our ambition is to continue strengthening our capabilities in Singapore and use what we learn here to help connect bunkering operations across markets around the world," Raguse said.