NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI), through its wholly-owned subsidiary JP Energy Global PTE, LTD, announces a major strategic partnership with China Petroleum Technology and Development Corporation (CPTDC), China's largest international trading company. This partnership marks a significant milestone with the first coal shipment initiated under the collaboration, utilizing Bloxcross' proprietary Trade Finance platform.
The shipment consists of 50,000 metric tons of coal sourced from Indonesia. This transaction is a key step in the larger agreement between JP3E and CPTDC, aimed at driving growth in the energy sector. The partnership will also open doors to future transactions involving other commodities, further expanding JP3E's reach in the global market.
This collaboration underscores the strength of JP3E's new trade finance solutions, developed in partnership with Bloxcross. The proprietary platform enables faster, more efficient, and secure global transactions, offering transparency and precision in trade finance, and positioning JP3E as a leader in the commodities market. The partnership with CPTDC, a subsidiary of China National Petroleum Corporation (CNPC), reinforces the credibility of JP3E’s operations in Asia. CPTDC has a long-standing reputation, exporting energy equipment and petrochemical products to more than 110 countries and regions. CPTDC has developed stable, large-scale markets in Central-Asia and Russia, Africa, the Americas, the Middle East, and the Asia-Pacific regions, and maintains sound and collaborative relationships with 3,400 partners with 1,100 international staff. Since its establishment over 30 years ago, CPTDC accumulated 44.0 billion USD in contract value.
https://www.cptdc.com/
Chairman and President of JP3E, John K. Park, expressed his enthusiasm, stating, "This partnership is an extraordinary achievement that highlights the talents and resources of both companies. Following my time in the Far East, I am honored to have made this connection and to work alongside such an esteemed partner in CPTDC."
Diego Baez, CEO of Bloxcross and JP3E, added, “We are thrilled to see Bloxcross’ trade finance platform facilitating such a profitable endeavor. This partnership marks a significant step in our global expansion strategy and strengthens our ability to drive successful international trade.”
Zhang Peng, General Manager from China Petroleum Technology and Development Corporation (CPTDC), “I am glad that after all this time, of transaction design and discussions, particularly with Jason Chang (CEO of JP Energy Group), John Park, and his team, we are able to move forward on something that will enrich both companies to include potential further transactions."
This transaction represents a transformative moment for JP 3E Holdings, positioning the company for further expansion in the global commodities market. As the company continues to focus on growth and strategic partnerships, this initial coal shipment is just the beginning of what promises to be a successful and impactful collaboration.
This contract signifies a decisive era for JP3E as the company continues to enhance its presence in the global commodities market.
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For additional information on the Global Trade Financing Platform via Bloxcross, Inc., reach out to sgallegos@bloxcross.com.
About JP 3E Holdings, Inc.
JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets.
About Bloxcross, Inc.
Bloxcross is at the forefront of financial technology, specializing in blockchain-based solutions for cross-border payments and trade finance. Dedicated to streamlining global financial transactions, Bloxcross provides secure, fast, and cost-effective services to clients worldwide. To learn more about their groundbreaking solutions, visit https://www.blox.global/.
Company Contact:
John K. Park, Chairman
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
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E-Mail: info@jp3e.com
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). The Companies caution that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, and estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f9b2b19a-e3a6-449f-98aa-78ff310b2349
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fc17896-2be1-4931-b1a0-27d9af289dd3
