Oil, gas & energy
Repsol traces low-carbon fuels from collected oil to final consumption
Repsol, a MARCO client since 2018, traces HVO and circular chemical products across several business areas, with a 4x return on investment.
4x
return on investment
Mass Balance, GHG & PCF, Digital Product Passport
The challenge
Repsol is a global energy company present across the whole energy value chain. As it grows its low-carbon fuels and circular chemicals, it has to show customers and certification bodies where renewable and recycled content comes from and what it emits.
Hydrotreated vegetable oil (HVO) is a good example. It starts as waste and residual oils collected from many sources, is processed in refineries and ends up in customer fleets. Each step adds paperwork, and fleet customers want evidence that the fuel they buy is what it claims to be.
The certification of petrochemical products faced a similar problem: documents passed between many parties, which slowed audits and made data hard to check. Low-carbon claims depend on data from many collection points and plants, and a single gap can undermine them.
What MARCO does
Repsol started working with Finboot in 2018 through Fundación Repsol's start-up acceleration programme, in collaboration with Repsol Technology Lab. The first application, BlockLabs, was developed as a pilot during that programme and used MARCO to make the certification of petrochemical products more efficient. In 2019 Repsol signed a commercial contract and its corporate venturing fund invested in Finboot.
Today Repsol uses MARCO across several business areas. For HVO, MARCO traces the full product lifecycle, from oil collection to the final biofuel product consumed by fleets. Mass Balance keeps the certified volumes in line, emissions are calculated along the chain, and product passports give customers the evidence behind each claim.
The same approach supports the traceability of circular chemical products such as packaging. In each case, data from collection points, plants and customers sits in one shared record that auditors can check.
Results
Repsol has been a MARCO client since 2018 and continues to extend its use.
- A 4x return on investment
- Full traceability of HVO from collection to consumption
- Evidence for low-carbon and circular claims shared with customers
- One platform used across several business areas
What began as a pilot in an acceleration programme is now part of how Repsol runs its low-carbon and circular businesses. Each new product line builds on records and workflows that are already in place, rather than starting from scratch.
Finboot, through their product MARCO, offers a friendly way to work with blockchain. Finboot’s technical and soft skills are valuable external talent for Repsol to work and co-create together.