Saudi Aramco has signed a memorandum of agreement with Data Gumbo, a US based Blockchain technology company which developed a blockchain as a service platform to streamline smart contracts management for industrial customers. The agreement between Saudi Aramco and Data Gumbo is for Blockchain collaboration over a three year term. This is not the first time Saudi Aramco has dealt with Data Gumbo. In August 2022, Saudi Aramco’s investment arm Saudi Aramco Energy Ventures made its fourth investment in Data Gumbo series C round where Data Gumbo raised $4million. The round was led by Saudi Aramco Ventures and Equinor, Norway’s energy operator. As per the Data Gumbo blog post, “ Data Gumbo is proud to announce that on 8 February, 2023 we entered into a memorandum of understanding (MOU) with Saudi Aramco for Blockchain Collaboration.   The agreement has a 3 year term. We are honored by the opportunity to deepen our collaboration and look forward to several transformational projects in

  Siemens Energy in its belief that progress on clean energy solutions will provide golden opportunities and socio economic benefits has partnered with Abu Dhabi Investment Office to accelerate the journey to net zero with the Middle East Innovation center that will focus on Blockchain for energy applications among others. Under the partnership, Siemens Energy will receive support to set up its Middle East Innovation Centre in Abu Dhabi, as part of ADIO’s AED 2 billion (USD 545 million) Innovation Program that creates growth opportunities for businesses in the emirate. The center represents one of four Siemens Energy-established global Innovation Centers, with other locations in Orlando in the United States, Shenzhen in China, and Berlin in Germany. These hubs are designed to bring customers, industrial partners, and academia together, and act as incubators for new startups, and technologies. The Siemens Energy Innovation Center will be located at the Khalifa University campus i

  Oman Al Shawamikh Oil Services Company will cooperate with Oman Frontech , a government entity established by both Omantel and Ethcha (Oman Investment Authority) to implement Blockchain to ensure sustainable management of its energy solutions.  Frontech launched the National Blockchain Platform to accelerate the digital innovation efforts in the Sultanate of Oman, in line with the requirements of the Fourth Industrial Revolution. The platform offers two services: Blockchain Factory as a sandbox environment, Blockchain as a Service (BaaS), and Blockchain as a Service (BaaS). Oman’s Energy entity, Al Shawamikh Oil Services Company, will work with Frontech to develop a sustainable energy management system built on blockchain technology. Frontech will utilize blockchain to represent the production units in the sustainable energy network, as well as track and manage these units. During the signing ceremony, Dr Aflah bin Said Al Hadhrami, CEO of Al Shawamikh Oil services, said, “

  For the fourth time since 2019, Saudi Aramco Energy Ventures, a subsidiary of Saudi Aramco has participated in an investment round in Data Gumbo, the blockchain enabled smart contract provider. This time Data Gumbo raised 4 million USD in its Series C round led by Saudi Aramco Ventures and Equinor, Norway’s energy operator. In 2019, Data Gumbo the Houston based blockchain Technology Company which had developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, completed a 6 million USD Series A equity funding round co-led by Saudi Aramco Energy Ventures, and Equinor. Then in 2020, Data Gumbo, closed its Series B funding round of 4 million USD led by new investor L37, a Bay Area and Houston-based venture capital company, with Saudi Aramco Energy Ventures as a participant in the round. In 2021 once more Data Gumbo closed a Series B funding round totaling 7.7 million USD with follow-on investments led by Equinor Venture