CAMBRIDGE, Mass., March 22, 2022 (GLOBE NEWSWIRE) -- Context Labs, an Enterprise Data Fabric Climate Tech company based in Cambridge, MA, and Amsterdam, announced today the launch of its Decarbonization as a Service™ (DaaS™) Platform to accelerate the global energy transition, bringing with it a new form of real-time digitally quantified ESG to enhance transparency and trust in markets.
Concurrently, Williams (NYSE: WMB), a Fortune 500 American energy company based in Tulsa, Oklahoma, announced today its commitment to the adoption of the Context Labs DaaS™ platform. The deployment of this enterprise data fabric solution will be targeted at Williams' facilities along with its upstream and downstream ecosystem partners to accelerate the company's energy transition and affirm its commitment to transparency and governance around climate change.
"We're thrilled to provide key enabling technologies to Williams to support its energy transition strategy," said Context Labs Founder and CEO, Dan Harple. "Our DaaS™ data fabric platform, based on our Immutably™ technologies, will integrate and connect the Williams ecosystem of supply chain partners, enabling a full end-to-end solution to achieve its market-leading climate commitments. This commitment by Williams marks the first at-scale deployment of the DaaS™ platform, one step further towards our goal for Context Labs technology to serve as the bedrock for the future of responsible, informed, and trusted Climate Tech."
"Williams is extremely well positioned with our large-scale energy infrastructure network and connectivity to customers to drive the next generation of the energy marketplace," said Chad Zamarin, Senior Vice President of Corporate Strategic Development for Williams. "Through this partnership, we will facilitate the delivery of responsibly sourced natural gas to help customers achieve their sustainability goals. By leveraging the Context Labs technology, we will enable supply and delivery decisions that connect the cleanest energy sources to meet real-time energy needs across the country."
"Context Labs is poised to scale with one of the nations' largest energy providers and we commend Williams for their leadership and commitment to advancing the energy transition," said Nathan Brawn, Managing Director of BP Energy Partners, a strategic investor in Context Labs. "Since inception, BP Energy Partners has focused our investment capital and partnerships toward the same goals. The Context Labs team has created a leading data fabric technology platform that provides the quantitative insights required to meet the growing needs of energy customers. We are excited to align ourselves with these two industry leaders to achieve climate initiatives."
"The national scale of Williams' in the energy supply chain, and its adoption of the Context Labs technology, represents a next big step towards better measurement through a digitally quantified empirical ESG, enabling greater transparency, trust for all stakeholders, and the ability to produce the transformation of the firm towards decarbonization," Roberto Rigobon, Society of Sloan Fellows Context Labs 2022 2 Professor of Management and Professor of Applied Economics at the MIT Sloan School of Management stated.
About
Context Labs provides solutions for customers who demand trusted provenance in their data, tracked veracity through the data's supply chain of use, and a requirement for trusted insights. It is dedicated to sourcing, organizing, and contextualizing the world's ESG information, enabling data to become trusted, shared, and utilized as Asset Grade Data to provide insights and solutions through Asset Grade Analytics that informs markets. Context Labs' mission is to provide the world's trusted data fabric platform, delivering Asset Grade Data, using its ImmutablyTM Data Fabric platform, deploying machine learning, Artificial Intelligence, and cryptographic blockchain technologies, for context-driven insights. The company was formed out of MIT research and is comprised of a leadership team that has been instrumental in the at-scale growth of the Internet, in prior companies. Contact: press@contextlabs.com | www.contextlabs.com | @contextlabsbv
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide - including Transco, the nation's largest volume and fastest growing pipeline - and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating, and industrial use. www.williams.com
BP Energy Partners, LLC (BPEP), is a Dallas, Texas-based growth-oriented investment firm. Since inception, BPEP has made investments in companies that provide practical solutions focused on decarbonization and environmental sustainability. BPEP is actively investing in new opportunities that accelerate energy transition and decarbonization efforts within the energy sector and other hard-to-decarbonize sectors including utilities, manufacturing, chemicals, metals & mining, materials, agriculture, transportation, and recycling. BPEP currently manages over $560 million in committed capital. More information can be found at www.bpenergypartners.com.
Roberto Rigobon is the Society of Sloan Fellows Professor of Applied Economics at the Sloan School of Management, MIT, a research associate of the National Bureau of Economic Research, and a visiting professor at IESA. Roberto is an economist who concentrates on economic and social measurement. He studies financial contagion, and propagation of shocks through economic networks. He is one of the two founding members of the Billion Prices Project that produce alternative measures of inflation in many countries; and he is the founder and director of the Aggregate Confusion Project which studies how to improve ESG measures.
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