LONDON, 9th April 2024 – iov42, a technology company specialising in digital identity, trust, and data integrity, today announced it has entered into two global strategic partnerships, strengthening iov42’s class-leading traceability solution, Interu, with analysis, reporting and verification technologies.
The initial focus of both strategic partnerships is to support organisations to comply with the incoming EU Deforestation Regulation (EUDR) and other legislation requiring end to end traceability for product legality and sustainability. Specifically, the need to perform due diligence on the risk of deforestation within supply chains.
Traceability has become crucial to supply chain management, helping to ensure product quality and provenance, resulting in higher levels of customer satisfaction and investor interest. It also helps fight human rights abuses and climate change violations by ensuring organisations can prove the goods they bring to market have been obtained from ethical, compliant sources.
Best in class partners
Headquartered in Singapore, DoubleHelix is a best-in-class provider of third-party verification. Their expertise and competency in supply chain Due Diligence (data collection, risk assessment and risk mitigation) makes them an ideal partner to help users reach compliance, as well as improve organisational performance.
Since December 2022, DoubleHelix and iov42 have collaborated on a Research and Development (R&D) partnership, co-funded by Innovate UK and Enterprise Singapore. This partnership further builds on this collaboration, to develop digital solutions which tackle deforestation in the sourcing and supply chains of commodities, including timber, pulp, paper, beef, cocoa, palm oil, leather, rubber and soya.
Under the terms of the new partnership, DoubleHelix’s verification and scientific analysis will be integrated into iov42’s traceability product, Interu.
Orbify, renowned for its innovative approach to transforming Earth Observation (EO) data into actionable environmental impact analytics, aligns perfectly with iov42’s mission to enhance digital trust and integrity across global supply chains.
Orbify’s expertise in leveraging satellite imagery and advanced data analysis techniques will complement iov42’s Interu platform. This synergy aims to empower businesses worldwide to not only comply with but excel in their environmental sustainability and compliance objectives. Orbify’s solutions are specifically designed to evaluate non-deforestation plot compliance, assess forest integrity risks, and detect timely changes in land cover. This partnership signifies a pivotal step forward in the application of technology to safeguard our planet’s ecosystems and promote sustainable business practices.
By integrating Orbify’s sophisticated environmental analytics with iov42’s trusted digital identity solution, the partnership is poised to deliver unparalleled accuracy, security, and compliance to organisations worldwide.
Users of Interu can leverage Orbify’s capabilities to analyse captured satellite imagery and ascertain whether deforestation has occurred. This enables users to assess potential deforestation risks, evaluate forest integrity data, monitor changes in aboveground biomass, and access environmental insights captured by satellite imagery.
The collaboration between Orbify and iov42 is a result of successful pilots integrating Orbify’s deforestation analysis and reporting into Interu via API. This partnership leverages Orbify’s capabilities to offer more comprehensive and insightful environmental data, empowering users to make informed decisions for a sustainable future.
The combining of best of breed solutions is vital to create strong ecosystems of trusted partners that will help combat deforestation and improve due diligence.
About iov42
iov42 is a technology company specialising in digital identity, trust, and data integrity. Our purpose built technology helps organisations, governments and societies coordinate confidently by enabling proven, transparent and secure transactions in a decentralised and immutable manner. Launched in February 2024, iov42’s traceability product, Interu, demonstrates how the fundamentals of this technology can be applied to enhance traceability across a range of commodities, countries, and use cases.
About DoubleHelix
Established in Singapore in 2008, DoubleHelix delivers practical solutions to help companies better manage their forest and agri-commodity supply chains, and demonstrate compliance in increasingly regulated markets. With in-country experts in Europe, Asia Pacific, Africa, North and South America, DoubleHelix engages with supply chains to collect and verify data, assess risk, and implement risk mitigation measures. https://www.doublehelixtracking.com/
About Orbify
Orbify is at the forefront of converting Earth Observation data into critical environmental impact analytics. Our Software-as-a-Service (SaaS) platform meticulously transforms satellite imagery into compliance assessment-ready data, empowering organisations to navigate the complexities of environmental compliance with unmatched precision. Dedicated to innovation, accuracy, and impact, Orbify is reshaping how businesses approach sustainability and environmental stewardship.
