U.S. DHS Awards a Contract to Neoflow, an Energy Blockchain Company

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Mar 01, 2023, 06:30 ET

CALGARY, AB, March 1, 2023 /PRNewswire/ - The U.S. Department of Homeland Security (DHS) Science and Technology Directorate's (S&T) Silicon Valley Innovation Program (SVIP) awarded a Phase 4 contract to Neoflow Inc. The contract is the final step in the process of developing the Neoflow Platform for Crude Oil. 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 process that began in 2019. The Neoflow Platform will digitally trace Natural Gas and Crude 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.

"The award of the Phase 4 Crude Oil contract is an important milestone in the development of the Neoflow Platform. Phase 4 is the last stage of the development process and will include a technical demonstration of the Neoflow Platform. The award is recognition of the effort of our industry and DHS partners and the Neoflow team to develop a technology that will modernize the cross-border movement of oil and natural gas", said Jim Oosterbaan, CEO of Neoflow. Canadian imports of Crude Oil and Natural Gas into the United States exceeded $ 110 Billion during 2022.

SVIP is one of S&T's programs 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.

About Neoflow

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.

About SVIP

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.

SOURCE Neoflow