Today, Fuelled, Canada’s leading and most credible energy equipment marketplace, announces new agreements, significantly increasing the size of its consignment inventory. Fuelled’s platform business has grown steadily over the last 4 years, enabling its network of supply side clients to access the global demand for energy equipment. “We (Fuelled) have focused on providing an exceptional online buying experience and the resulting positive network effects are driving the growth of our platform.” Commented Austin Fraser, VP Finance & Operations
New Agreements
Fuelled was recently engaged by Peyto Exploration, one of Canada’s largest natural gas producers, to assist in monetizing a large suite of unused gas plant equipment, including large diameter separators, refrigeration equipment and over 13,000HP of compression. All of Peyto’s Fuelled Certified listings which will include pictures, videos, technical data and pricing can be seen here, www.fuelled.com/peyto.
Fuelled is also pleased to announce the signing of an agreement with a major multi-national energy service company. “Achieving the goal of increasing our footprint globally and expanding our supply side customer base outside E&P clients, is a major milestone for Fuelled” said Ajay Singh, VP Business Development. “This agreement adds a substantial supply of available equipment in Latin America including nearly 40,000HP of gas compression and further solidifies confidence in the platform business model”. More details on this equipment will be forthcoming.
Operational Updates
Fuelled has been successful in achieving the goal of building out its international business, with multiple successful projects completed in Asia and Africa in the first half of 2019. A platform generated lead resulted in the sale of three large packages totalling 50mmscfd of refrigeration capacity to a client in West Africa. This was a milestone sale for Fuelled, satisfying a buyer’s need halfway around the world with a seller’s equipment in Northern Alberta. “We are beginning to see the results of the time and resources allocated to build the platform and our brand” said Ajay Singh “ we believe a successful platform is one where the online experience, brand trust and depth of information allows buyers to complete large transactions online and we are starting to see the results and positive network effects that come from having a world class brand.”
Fuelled had previously announced an agreement with PricewaterhouseCoopers Inc., LIT, in its capacity as the court appointed Receiver of Trident Exploration (“Receiver”). Fuelled has been very pleased with the volume of equipment that has been sold, remaining equipment can be seen here: www.fuelled.com/trident.
About Fuelled
Fuelled Energy Marketing Inc. The Calgary-based technology company operates two online marketplace platforms; Fuelled (www.fuelled.com) an exclusive sales consignment platform and ARMOUREE (www.armouree.com) a subscription-based inventory management and cataloguing platform. Fuelled Energy Marketing Inc. launched in 2014.
Please contact Raj Singh, President at raj.singh@fuelled.com or 1-855-383-5533 for any questions or inquiries.