The Norway-based tech company Powerzeek, which launched its online platform for clean marine fuel transactions in April, has announced the formation of a board of advisers which will provide input on market strategy, operational improvement and financial planning.
Powerzeek’s founder and CEO, LNG entrepreneur Dag Lilletvedt, has been involved in the industry for around 15 years, both as a buyer and seller. Along the way, he established Liquiline LNG and CRYO Shipping and in 2009 he set up Fuelgarden Energy, which focuses on LNG design and project management.
Speaking to Bunkerspot at the launch of the online platform, Lilletvedt said he believed that the marketplace services provided by the Powerzeek platform would help to break down barriers to the uptake of LNG bunkers, not least in terms of making it easier to find counterparties and to deliver transparency on LNG pricing.
To date, the majority of LNG bunkers are bought on contract with little wider market disclosure on price, but for the LNG market to become more liquid a healthy spot market needs to develop, and Lilletvedt thinks the new platform can facilitate this.
‘LNG is also a different kind of fuel to what shipowners have been used to – it is priced differently – and so hopefully Powerzeek will make things easier,’ he said.
The online marketplace will also be available for other cleaner fuels in the future, such as biogas, hydrogen and ammonia.
Powerzeek has now taken the next step in its development with the creation of an Advisory Board, whose members have long expertise in their respective fields.
‘I couldn’t be more pleased with the team of professionals and authorities we have assembled from all over the world to advise us as we prepare to scale the company,’ said Lilletvedt.
‘I am looking forward to working with them individually and as a group, and to get their perspectives and insights on important issues for Powerzeek.’
The Powerzeek Advisory Board is as follows:
• Anette Bergo, a technology expert, is Tech Lead at Mestergruppen, a leading company in the building materials trade and in homebuilding chains for builders in Norway. Anette is a full-stack developer, having worked on developing tech solutions for clients all over the world including in Norway, UK, Australia, India and the Philippines.
• Rune Birkeland, a long-time shipping executive, is Director on the board of Grieg Star and Deputy Director on the Board of G2Ocean, the largest deep-sea breakbulk carrier in the world with a total of 130 ships. Rune has a long career in shipping and business, including roles as CEO at G2Ocean, CEO of Grieg Logistics and CCO at Wilson Eurocarriers.
• Mikael Krogh, a Singapore-based venture capitalist, is the Founder and Managing Partner at Investigate, a venture capital firm in Singapore focused on companies having a strong Network Orchestrator business model. Mikael is also an advisor for Antler Venture Capital, with previous roles including a stint at BW Ventures.
• Corporate lawyer Line Nilsen is Partner and Attorney at the Bergen-based law firm Kyrre. Line is a specialist on corporate law, and her prior experience includes roles at other law firms, PwC and the Norwegian tax authorities.
• Atle Sivertsen, a specialist in marketplaces and platform business models, is the CEO of Finance Innovation, the Norwegian Centre of Expertise on fintech. Atle is a long-time executive and innovator, having worked for companies such as World Fuel Services, Aanderaa Data Instruments and KPMG.
• Wenche Teigland, a long-time executive from the energy industries, is a professional board member, advisor and investor with 30 years of executive and operational experience from renewable energy, oil and gas. She has previously worked for companies such as BKK Group, Shell Gasnor, ABB and Aker.
• Dr Trond Unneland, a San Francisco-based advisor and professional board member, has extensive experience from the energy and corporate venture capital space. Trond has previously held executive positions such as Vice President, Managing Director and Country Manager in Chevron and Statoil (Equinor).
All members of the Powerzeek Advisory Board are also investors in Powerzeek.