HUNTER TECHNOLOGY MARKET TESTING PILOT APRIL LAUNCH All the pieces continuing to come together...
HUNTER TECHNOLOGY MARKET TESTING PILOT APRIL LAUNCH
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Hunter Technology Corp. (TSX-V: HOC; OTCQB: HOILF; WKN: A2QEYH, FSE: RWPM, ISIN: CA4457371090) (“Hunter” or the “Company”) is pleased to announce the scheduled private release of its OilEx platform as a minimum viable product ("MVP") in April 2021.
Ahead of the execution of live pilot transactions for selected hydrocarbon producers and purchasers at the end of Q2 2021, the Company is taking advantage of its robust solution development progress and plans to deliver a platform MVP for market testing in early Q2. This MVP delivery will be targeted to independent producers and purchasers in North America.
The MVP is designed to provide early users a view of the OilEx digital marketplace consolidating the trading supply and demand and enabling transactions with three functional areas:
- A visual representation of market data utilizing interactive maps to support discovery of attractive transaction opportunities. The real-time information visualization functions will be supported by a live deal database with all required details for each individual offer (crude oil type, assay, output capacity, price index, etc.), coupled with search and sorting functions.
- A secure end-to-end encrypted communication channel between prospective purchasers and sellers supporting transaction negotiations. It combines key transaction data with the flexibility of a conversation.
- A robust document storage function will transform the current paper trail for transactions into a structured deal document vault. Deal terms and conversations will be aligned side-by-side with executed documents for accurate and timely context.
Deployed to be accessible as a live solution in a cloud environment, this product version will be made available to a private group of early users and senior industry advisers. The trial will follow a structured protocol with a series of functionality tests assessing end-to-end performance of realistic physical oil trading scenarios along fully digital processes supported by the OilEx marketplace. Testing will be accompanied by interviews and analyses to determine how effectively the platform interfaces with the user and the intuitive ease of use of features.
The testing process is designed to generate critical insights into user needs and industry requirements on a more transaction specific level, building on the Company’s market research and network of industry experience. The testing and subsequent feedback are critical steps to ensure product-market-fit, reduce delivery risk, and deliver the highest possible value add to platform users.
"This MVP is a critical step in our product development work. It will allow the detailed validation of the OilEx core product functions to optimize benefits provided to our clients and partners and help realize our core value proposition: connecting independent oil producers, buyers, and traders in a trusted digital marketplace to optimize prices, simplify processes, improve transparency, and support environmental responsibility," said Florian M Spiegl, Hunter’s Chief Executive Officer. “We are excited to go through rigorous testing with independent producers in April before we schedule our next major release.”
In addition, the Company is pleased to announce the appointment of Dr. Florian M Spiegl to the Company’s Board of Directors.
Andrew Hromyk, Director of the Company, stated: “We are pleased to welcome Dr. Spiegl to the Board. His technical expertise and experience are a great resource to support the Board of Directors and corporate vision through the continued product development and launch cycle.”
About Hunter Technology Corp.
Hunter Technology Corp. develops interactive software platforms powered by blockchain technology that digitalize and streamline physical oil trading throughout the transaction lifecycle. With its solutions, Hunter delivers more favorable economics and fair market access for all and promotes the transition towards a more environmentally and ethically responsible ecosystem. Its flagship product OilEx will connect independent oil producers, buyers, and traders in a trusted digital marketplace to optimize prices, simplify processes, improve transparency, and support a reduced carbon footprint. Through its data analytics capabilities, Hunter will offer real time supply chain management tools for tracking the origin, transhipment and processing of hydrocarbons and the environmental, social and governance (ESG) compliance during their life cycle.
ON BEHALF OF THE BOARD OF DIRECTORS
Florian M Spiegl
Chief Executive Officer
(888) 977-0970