MineHub is pleased to announce that it has agreed with Waybridge Technologies Inc. to combine their operations and continue under the MineHub corporate structure. Both companies are leaders in the digital transformation of commodity supply chains, making them more efficient, resilient and sustainable.
This combination brings immediate benefits to MineHub including:
- A highly accretive transaction that will immediately increase revenue, unlock substantial operational and product synergies and reduce the timelines to profitability.
- An accelerated path to critical mass – especially in the copper industry – and becoming the industry digital platform.
- Operations and customers in the top three industrial economies – USA, China and Japan – and key mining jurisdictions – Chile, Australia and Canada.
- An extended user base with more than 100 companies including leaders in key markets to grow the network effects for the Company’s products and services.
- Digitally connecting complementary nodes of the supply chain enabling comprehensive traceability of materials from mine to end user – mitigating against fraud and enabling verification of compliance with ESG and trade regulations.
Waybridge is a ground-breaking SaaS platform that provides seamless order processing, real-time shipment tracking, inventory management and reporting for the commodities ecosystem by automating data connections between customers and their entire supply chains. Waybridge has over 90 companies interacting digitally on its platform, including leading global manufacturers, such as Southwire and Superior Essex, as well as major miners, warehouses, and shipping companies. In 2022, Waybridge customers managed more than $7 billion of raw materials via the platform.
Arnoud Star Busmann, CEO at MineHub Technologies said: “MineHub launched with a strong focus on connecting sales operations within mining companies to their customers for bulk commodities such as iron ore and metal concentrates. Waybridge started from the manufacturing side, connecting procurement operations with their metal suppliers. Both companies are working with industry leaders – Waybridge more focused in North America, and MineHub in Asia. The combination instantly realises an end-to-end global solution for the full supply chain from mine to market. Both platforms have been adopted by industry leaders that have the scale to influence market practices. We have the potential to significantly reduce timelines to reach critical mass and become an industry standard, creating network value for our customers.”
“All the data that key industries like automotive, construction, batteries, and energy infrastructure need to verify compliance with ESG policies, trade regulations or determine their Scope 3 emissions exposure will be captured and accessible in one place. Producers can protect and enhance their brands with digital content including origin, ESG performance, emissions and provenance as their products move through the supply chain towards the end user. Likewise, companies and their financial partners will be able to reduce fraud risk by providing end-to-end visibility and traceability of physical materials.”
Scott Evans, CEO at Waybridge Technologies said “MineHub and Waybridge are uniquely aligned in their vision to digitize commodity supply chains and unlock the value that technology can bring to one of the world’s most critical industries. Together, we will transform the way market participants interact with each other by providing unprecedented visibility and data analytics, robust sustainability reporting, and operational efficiency to the foundational layer of the global economy.”
MineHub expects to retain certain employees and members of the Waybridge management team in the United States and the United Kingdom upon closing, including:
- Andrea Aranguren (current Chief Customer Officer & Co-founder of Waybridge) – 10 years of experience in commodities (oil & gas, metals, and environmental) operations and in helping startups to optimize their logistics & manage their supply chains. Previously, Andrea was VP of Logistics at Goldman Sachs and VP of Environmental Markets at IHS Markit.
- Kyle McCarter (current Chief Product Officer at Waybridge) – Client services leader with 12+ years experience helping enterprises like Yahoo! Japan, Microsoft, Wal-Mart, and Walgreens to use emerging technologies to solve their most important business problems.
Scott Evans (current CEO & Co-Founder of Waybridge) brings over 20 years of experience in physical commodity trading at firms like Goldman Sachs, Mitsubishi and Concord Resources, and will be appointed to MineHub’s Advisory Board and assist the MineHub executive team with commercialization and strategy.
About MineHub Technologies
MineHub is an enterprise-grade platform connecting all parties along the physical commodities supply chain. The MineHub platform replaces existing processes in which thousands of data interactions and scores of documents are shared amongst counterparties by fax, phone and e-mail. By digitizing the complex workflow among participants in a physical commodity transaction, MineHub brings efficiency and security to the mining and metals supply chain. MineHub allows firms to create data that is useable, shareable, verifiable and unforgeable. Global enterprises already use MineHub as part of their logistics, compliance, trade management and financing operations.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@Minehub.com or visit our website at www.minehub.com