Houston, Texas — August 1, 2018 — Bluware, a global leader in high-performance Platform-as-a-Service computing innovation, is pleased to announce a round of funding led by EV Private Equity (EV). The transaction also includes contributions from Shell Ventures, while EV's Senior Partner Per Arne Jensen joins the team as Chairman of the Board.
Following the recent merger with Hue AS and Headwave Inc., Bluware develops and sells Headwave, an open software platform that is unconstrained by data size or compute complexity. Leading-edge E&P companies today use Headwave to accelerate many high-value petrotechnical activities, working with extraordinary data volumes to enable real-time workflows that have been historically out of reach. Headwave's data-handling, visualization and computational framework all have roots in gaming, where interactivity is a given and software design is fundamentally different from other industries.
“Partnering with these marquee investors is a tremendous step forward for Bluware and the Headwave software platform,” said Dan Piette, Bluware CEO. “Our team has worked relentlessly through the downturn to produce something of real value to the industry—something that reflects the power and sophistication needed by today's E&P leaders, not the technology of thirty years ago. This investment is evidence we are moving in the right direction.”
With the latest Headwave advances, Bluware is creating entirely new possibilities in the E&P industry, introducing machine learning and artificial intelligence in ways previously thought unattainable. “Our biggest clients tell us that automation is key to their most aggressive business goals,” said Diderich Buch, Bluware Chief Strategy Officer. “Headwave is the only technology product that can realistically deliver the deep learning capabilities they need to succeed.”
Portraying EV's optimism, Jensen stated, “Bluware's level of innovation and delivery capability are perfectly positioned for what the oil and gas industry needs to move forward in a fundamentally different world. We expect to leave a profound mark on the industry with this exciting new venture. Bluware´s substantial competency base in both computer science and geoscience among it´s more then 100 employees mean that the company will be a strong force in the ongoing re-shaping of the oil and gas industry.” Rick Jones, founder of pre-merger Bluware, added, “These are exactly the type of financial partners Bluware needs to complete its mission.”
Commenting on the digital transformation the oil and gas industry, Kirk Coburn of Shell Ventures says, “Our industry is changing at unprecedented rates due to the insights enabled by machine learning and AI. Bluware is at the forefront of this innovation with technology that delivers a real-time interactive experience for activities we typically expect to take hours and days.”
Bluware Corp is a privately-owned company that produces game-changing solutions for the most challenging objectives in the petrotechnical world. Bluware's Headwave software platform is used by some of the biggest names in E&P to accelerate digital transformation initiatives, delivering both near-term ROI and long-term strategic value. Working in close collaboration with industry leaders, Bluware develops software that leaps ahead of long-time established offerings to drive business innovation and a whole new way of working. For more information, visit bluware.com.
About EV Private Equity
EV is an independent growth equity firm applying its specialized expertise to build world-class companies and uncover new technologies in the oil and gas sector. EV's team leverages specialist knowledge, advisors, proven practices, and a global network to scale businesses that push the edge of technology innovation. Since 2002, EV has raised five funds with committed capital approaching $1.000 million. With teams in Stavanger, Norway; Houston, Texas; and Aberdeen, Scotland, EV Private Equity helps companies operate competitively and achieve a more sustainable future. For more information visit evpe.com.
About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc ("Shell"). Continuing Shell's tradition in venture capital since 1997, Shell Venture's investment focus covers the full energy spectrum from O&G to renewable energy technologies and digital solutions. Shell Ventures co-invests with other corporate investors, venture capital funds and angels in both early stage and late stage (growth capital) companies. For more information go to http://www.shell.com/shell-ventures. Reporters may contact the Shell media relations team by calling 832-33-SHELL (832-337-4355).
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