Chinese energy supplier partners with VeChain in strategic collaboration

One of China's largest energy suppliers is utilizing blockchain technology to track natural gas supply, achieving "best quality control and supply chain management" through VeChainThor technology.

ENN Energy Holdings Limited (ENN) is one of China's largest clean energy distributors, engaged in energy trading and providing liquefied natural gas to approximately 94.57 million people in 187 Chinese cities.

VeChain Thor targets not ordinary consumers; its team has a strong foundation in enterprise supply chain management, focusing on supply chain and providing Internet of Things solutions, even taking over large corporate chains as its mission.

Since 2018, VeChain has been collaborating with ENN and the state-owned Shanghai Natural Gas Company to develop a blockchain-based solution for tracking Liquefied Natural Gas (LNG).

The solution is first adopted by the Zhoushan Liquefied Natural Gas Storage and Distribution Center, combining VeChain Thor with IoT devices to facilitate supply chain management. The VeChain Foundation recently stated in an interview with the Deputy General Manager of ENN Group:

VeChain's blockchain technology can provide efficient and accurate data collection for ENN's supply chain. To accomplish this challenging task, ENN and VeChainThor have utilized a series of IoT technologies.

VeChain Supply Management

The VeChain Foundation explained the supply management process in its blog:

When at the distribution center, gas will be injected into different storages and assigned different codes, linking the codes to relevant data stored on the blockchain. During the distribution to retailers, logistics information and natural gas quality reports will also be uploaded to the blockchain. VeChain can cross-verify each step.

Deputy General Manager of ENN, Zhou Tao, commented on this collaboration:

As a new technology, blockchain naturally faces skepticism and criticism, but we should not shy away from criticism. Instead, we should raise questions and develop reliable solutions to explore new application scenarios that can be integrated with the real economy.

He further pointed out:

Natural gas imported by ENN comes from around the world, so the composition, quality, calorific value, and gasification rate vary by batch. VeChain Thor's technology has proven to save time and resources. Without it, information would have to be communicated through phone calls, emails, QQ, and WeChat, leaving room for human error and time wastage.

The report indicates that ENN's use of VeChain Thor is not limited to natural gas, but plans to expand into related areas such as electricity, renewable energy, thermal energy, oil, coal, and more. VeChain also plans to continue collaborating closely with ENN and other service providers in increasingly diverse application scenarios.

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