Digital traceability solution developed for biofuel supply chains

FincoEnergies shared its knowledge of bookkeeping processes with Circularise to expand its MassBalancer traceability software suite to include the biofuels supply chain, adding ISCC EU certification as an additional supported framework.

FincoEnergies plans to test this software with their GoodFuels customers to ensure a robust information transfer process. By shifting from manual methods to software grounded in RED II principles, FincoEnergies hopes to prevent inadvertent double counting of biofuel credits, further enhancing trust and transparency throughout the value chain.

The project was initiated in response to European Union Red II regulatory requirements, which stipulate that records must be maintained for the sourcing, chain of custody, and GHG emissions of the biofuel product process and then verified by a third-party certification scheme such as ISCC EU.

This process of bookkeeping is currently a manual process of companies exchanging information from pdfs and spreadsheets, which can be costly and time-consuming.

Adding a digital method of record management will increase information security and ease-of-use for any organisation that needs to report their biofuels feedstock and supply chains. By digitising the record keeping process, information on the chain of custody and GHG emissions of the biofuel products can be efficiently audited, supporting a trustworthy and fair marine biofuels industry.

Paul Bakker, Digital Development Manager at FincoEnergies, said: “Transparency and trust are critical to the supply chains of all marine fuels, but especially biofuels, where we must be able to demonstrate our sustainability claims easily and with confidence. Through our GoodFuels brand, we are dedicated to leading sustainability within the biofuels market, which is why we are pleased to be able to support Circularise to improve the digital reporting process.”