5 March 2018 – Ascenz Pte Ltd is celebrating its 10th anniversary as Asia’s leading provider for vessel performance solutions today. The Singapore-based company has grown from strength to strength since its founding in 2008 by its two co-founders, Chia Yoong Hui and Sia Teck Chong, whom still remain as management today. Of note, both the CEO and CTO respectively were recognised by EY as 2017’s Entrepreneur of the Year – Maritime Technology Solutions.
10 years ago, ex-navy crewmates Chia Yoong Hui and Sia Teck Chong noted the problems faced by shipping companies due to high fuel prices and high fuel consumption. Together, they worked with a noted local shipowner for solutions and developed the Ascenz Controller, a system used to help ﬂeet owners remotely access and monitor their fuel consumption from onshore. The initial controller has since evolved into the in-house developed Shipulse system, combining both hardware data acquisition systems and dashboards, with its cloud-based Shipulse portal.
Through the utilization of critical shipboard data and analytical tools, Shipulse transforms ships into ‘smart vessels’ and equips ship operators with the right performance monitoring tools. The Company quickly gained recognition within the industry and won multiple awards for its business success, such as the Enterprise 50 awards for two years consecutively, 2016 and 2017.
The years have seen Ascenz attract growth capital from Red Dot Ventures and BW Ventures that has allowed the Company to catapult to the forefront as a key player in vessel performance solutions. Today, the Company has grown from the original two-man team to a strength of 36 across 9 countries.
As a testament to the strength and capabilities of Ascenz, it was recently acquired by the top LNG engineering company, Gaztransport & Technigaz (GTT.PA). With this strong partnership, Ascenz will continue on its growth path and focus on next generation shipping developments such as those on LNG and AI-based analytics.
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