Platform to simplify the commodity supply chain
and enable growth of the logistics-heavy decentralized
LNG-for-trucks business
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
global information technology, consulting, and business process
services company, today announced the successful implementation of
a blockchain-based small-scale liquefied natural gas (ssLNG)
trading/fulfillment platform for Uniper Global Commodities SE and
its 100% LNG-for-trucks subsidiary Liqvis GmbH. Uniper SE is a
leading international energy company headquartered in Germany.
The platform built in collaboration with Uniper utilizes a
consortium model for all ssLNG market participants to help
transform the trading market space resulting in market efficiencies
and significant cost savings for traders.
Uniper selected Wipro to build the blockchain platform to
address the complexity of the European ssLNG market. As a result of
the implementation, commodity flow management is simplified in a
market characterized by extensive manual and paper-based
transactions and high operational cost. The platform implemented by
Wipro involves multiple peer-to-peer trading cycle participants,
enables order and supply placement, delivery of goods, validation
of the state of goods and bill settlements. It further helps Uniper
streamline trade by reducing turnaround time, effort and
inefficiencies, enables scalability and brings visibility,
transparency and trust in all stages of LNG trade. Strategically,
it paves the way for Uniper to become the market maker for
low-carbon modern supply of alternative fuels and decentralized
energy solutions.
Dr. Grigory Shevchenko, Senior Account Manager Gas Supply and
Origination, LNG Business Development, Uniper said, “Uniper’s
strength is its customer-centricity, product creation and market
development. Building upon that when we enter more downstream
logistics-heavy markets, we encourage the use of innovative
technologies to optimize our processes and operations. Blockchain
will enable business volume growth without needing a lot of
additional headcount to manage transactions. This will be true for
us and our counterparts that will engage with Uniper through the
paperless blockchain platform. The ssLNG trading platform provides
for easy scalability and enhancements based on the growing
marketplace. To achieve this, we jointly deployed the required
building blocks such as security, distributed computing and node
network.”
Sarat Chand, Vice President and EMEA Utilities Business Head,
Wipro Limited said, “We are delighted to build and implement
the Small Scale LNG blockchain platform for Uniper and support
their initiative to promote LNG as an advanced and environmentally
friendly fuel alternative. The platform helps Uniper’s
LNG-for-trucks subsidiary Liqvis ensure that LNG is always
available when and where it is needed and achieve price security
through Uniper’s long-term LNG supply contracts and seamless supply
chain execution. This is a landmark partnership between Wipro and
Uniper. Our Utilities ETRM business competency combined with
industry leading blockchain expertise has enabled Uniper to
modernize its trading platform, reduce friction, improve process
efficiency and simplify settlements in business processes.”
Krishnakumar N Menon, Vice President - Service Transformation
and Blockchain Theme Leader, Wipro Limited said, “The
trading/fulfillment platform for ssLNG market leverages blockchain
to simplify the LNG trade process with greater efficiency,
transparency and security. Smart contracts used in the platform
automate processes such as demand creation, trade confirmation,
shipment creation, bunkering, invoice generation and settlement,
leading to lesser manual interventions. The blockchain-based
platform benefits Uniper and its customers in their trade cycles by
enabling digitization and exchange of documents; real-time sharing
of information and alerts for an immutable audit trail of
activities performed.”
Wipro is a recognized leader in implementing blockchain
technology for its clients, providing strategic advisory and
consulting services combined with a strong portfolio of industry
solutions, platforms and patents paired with an ecosystem of
technology partners, consortia, industry regulatory bodies, and
academia. Wipro is committed to creating strong blockchain
communities while developing talent for building extensive
technology expertise across multiple leading blockchain platforms
such as Hyperledger Fabric, Ethereum, Quorum, Corda, Multichain,
Hyperledger Indy and Hyperledger Sawtooth. The company is also
involved in a number of distributed ledger technology consortia and
alliances including the Hyperledger project, the Ethereum
Enterprise Alliance, the Energy Web Foundation and the Blockchain
in Transport Alliance. To learn more, click here.
About Uniper
Uniper is a leading international energy company with around
11,500 employees and activities in more than 40 countries. With
about 34 GW of installed generation capacity, Uniper is among the
largest global power generators. Its main activities include power
generation in Europe and Russia as well as global energy trading,
including a diversified gas portfolio that makes Uniper one of
Europe’s leading gas companies. In 2019, Uniper sold a gas volume
of about 220 bcm. The company is headquartered in Düsseldorf, being
the third-largest listed German utility. Under its new strategy,
Uniper aims to become carbon-neutral in Europe by 2035.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
information technology, consulting and business process services
company that delivers solutions to enable its clients do business
better. Wipro delivers winning business outcomes through its deep
industry experience and a 360 degree view of “Business through
Technology.” By combining digital strategy, customer centric
design, advanced analytics and product engineering approach, Wipro
helps its clients create successful and adaptive businesses. A
company recognized globally for its comprehensive portfolio of
services, strong commitment to sustainability and good corporate
citizenship, Wipro has a dedicated workforce of over 180,000
serving clients across 6 continents. For more information, please
visit www.wipro.com.
Forward-looking and Cautionary Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
and its plans, expectations and intentions. Wipro cautions readers
that the forward-looking statements contained herein are subject to
risks and uncertainties that could cause actual results to differ
materially from the results anticipated by such statements. Such
risks and uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry. The conditions caused by the COVID-19
pandemic could decrease technology spending, adversely affect
demand for our products, affect the rate of customer spending and
could adversely affect our customers’ ability or willingness to
purchase our offerings, delay prospective customers’ purchasing
decisions, adversely impact our ability to provide on-site
consulting services and our inability to deliver our customers or
delay the provisioning of our offerings, all of which could
adversely affect our future sales, operating results and overall
financial performance. Our operations may also be negatively
affected by a range of external factors related to the COVID-19
pandemic that are not within our control. Additional risks that
could affect our future operating results are more fully described
in our filings with the United States Securities and Exchange
Commission, including, but not limited to, Annual Reports on Form
20-F. These filings are available at www.sec.gov. We may, from time
to time, make additional written and oral forward-looking
statements, including statements contained in the company’s filings
with the Securities and Exchange Commission and our reports to
shareholders. We do not undertake to update any forward-looking
statement that may be made from time to time by us or on our
behalf.
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version on businesswire.com: https://www.businesswire.com/news/home/20200820005491/en/
Shraboni Banerjee Wipro Limited Shraboni.banerjee@wipro.com
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