Zeno Technologies Unveils a New Platform to Help Energy Companies Thrive in the Production Era | Business

By Editor On Oct 21, 2021

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AUSTIN, Texas – (BUSINESS WIRE) – Dec. October 2021–

Zeno Technologies today unveiled a new cloud-based platform that will help energy companies, investors and partners adapt and thrive in the face of new market realities in the manufacturing age. The energy industry is fundamentally different than it was a few years ago, and today’s energy-centric companies need a number of modern tools to unlock data in order to make smarter, faster business decisions. Zeno’s new Energy Operating System provides the clarity to understand and improve business performance and the insight to decisively assess and pursue new investment opportunities.

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Zeno’s energy operating system helps energy companies, investors and partners adapt and be successful in the face of new market realities in the age of production (Graphic: Business Wire)

Dawn of the production era

Energy companies that were once valued for land potential and revenue growth are now measured in terms of free cash flow. This fundamental shift in valuation and its impact on the operation of energy companies ushered in the “manufacturing era,” in which success depends on a company’s ability to optimize business performance and maximize productivity. Today’s energy-centric companies are trying – and mostly fail – to put together a patchwork of legacy tools to bring together production and market data to really understand business performance and make better decisions. To address this weakness, Zeno’s Energy Operating System boosts business performance by connecting entire companies through data and providing real-time insights to run their businesses on real numbers rather than best guesses.

“We have seen a fundamental change in the energy industry over the past five years. Companies that previously focused and valued on successful exploration are now valued for efficient production and final results. Additionally, they face unprecedented challenges as they deal with technological change, mounting ESG pressures and volatile global demand, ”said Sealy Laidlaw, CEO of Zeno Technologies. “This new reality requires companies to base their follow-up decisions on hard numbers and analysis, not intuition and estimates. Legacy tools make it nearly impossible to display relevant data the moment it is needed. We are therefore building Zeno to meet this unmet need. “

Business development for the E&P sector

Today’s exploration and production (E&P) companies rely on market intelligence and internal production data to make key decisions that directly affect their bottom line. Understanding different data sets in a timely manner can be almost impossible. So Zeno has developed a platform that gives you a single, comprehensive overview of your business.

“In our business, the decisions we make are only as good as the data that make those decisions,” said Brandon O’Gara, CFO, Echo Energy. “Where we used to rely on time-consuming processes to aggregate and analyze data from different groups across the company, Zeno enables all of our teams to work with relevant data on a single unified platform so we can get answers faster. As a result, we are a smarter and more flexible organization. “

Support the broader energy ecosystem

Zeno’s platform is not only relevant for E&P companies, but also for partners, banks and investors active in the energy sector. They need access to the latest data to quickly understand how a single asset or an entire company is doing compared to others in the industry before deciding where to invest. Zeno unifies this process on a central platform and enables you to make well-founded investment decisions quickly.

“Upstream operators face major challenges building data as their core business asset to be truly data-driven,” said Rob Hembree, VP of Technology, Greenlake Energy Ventures. “Zeno’s solution enables us to address this modernization challenge and accelerate our digital journey so that our team can make informed decisions in real time.”

Early investment

In early 2020, Zeno raised a $ 5.5 million seed funding round led by 8VC, Echo Investment Capital and other strategic investors. Zeno is part of the 8VC Build portfolio, which creates and supports high-growth companies that want to fill market gaps and transform industries in the process. Zeno also fits directly into Echo’s thesis of investing in innovative companies that combine Midwestern industries with a global pool of talent and capital.

Visit www.zenotech.io and follow Zeno on LinkedIn for more information on the company’s energy operating system, which enables energy-centric companies to work faster and distribute capital more efficiently.

About Zeno Technologies

Zeno Technologies helps energy-oriented companies thrive in the manufacturing age. The company’s energy operating system is used by energy companies, investors, and partners to drive business performance by connecting entire companies through data on a common platform and providing real-time insights so their businesses can be based on real numbers rather than best estimates. Zeno is privately held and headquartered in Austin, TX. Further information is available at www.zenotech.io.

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CONTACT: John Snedigar

Fault line communication

john@faultlinecomms.com

408-705-7518

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY OTHER ENERGY NUCLEAR UTILITIES OIL / GAS SOFTWARE COAL ALTERNATIVE ENERGY INTERNET ENERGY

SOURCE: Zeno Technologies

PUB: 10/21/2021 8:00 AM / DISC: 10/21/2021 8:01 AM

http://www.businesswire.com/news/home/20211021005249/en

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