US DHS awards a contract to Neoflow, an energy blockchain company

CALGARY, AB

,

1 March 2023

/PRNewswire/ – US Department of Homeland Security (DHS)

(S&T)

(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 DHS

Prevention of forgery and falsification of certificates and licenses

request. The call supports the development of standards-based technologies to continue DHS’s efforts to use 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 track 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 final stage of the development process and will include a technical demonstration of the Neoflow platform. The award is recognition of the efforts of our industry and DHS partners and 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 to

the United States

exceeded

110 billion dollars

during 2022.

SVIP is one of S&T’s programs to fund innovation and collaborate 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.

About Neoflow

Neoflow Inc. is one

Calgary

based company, a team of digital innovators, entrepreneurs and energy industry experts. We have a shared passion for transformation in the energy industry together with a shared 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

SVIP is one of S&T’s programs and tools to fund innovation and collaborate 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 domestic use cases.

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SOURCE Neoflow