09 Feb Q&A with Jesse Shouldice, Validere’s new VP of Business Development
Validere is pleased to announce the appointment of Jesse Shouldice as VP of Business Development. To better introduce him, I sat down with Jesse to learn a little more about his experience and view on the oil & gas industry.
Q1: What attracted you to Validere?
After many years spent working in oil and gas finance and energy trading at the world’s largest banks, I was ready to tackle a new challenge. In approaching this, I was looking for three things, all of which Validere offered. 1) The unparalleled opportunity to retain my industry knowledge and relationships while diving into the cutting edge of technology. 2) The ability to join an early stage, Silicon Valley backed, and incredibly talented team of diverse individuals where everyone is motivated by the same desire to build a world-class company. 3) Most importantly – I wanted to work with a product offering that drove real value for the entire energy industry. In my mind there is not an upstream, midstream, or downstream company that won’t be able to derive real fundamental value from Validere within the next 1-2 years. The challenges that Validere is tackling to help drive efficiency, reduce emissions and reduce quality giveaways in the $40 trillion dollar energy supply chain is transformative and I wanted to be part of it.
Q2: Validere is transforming the industry through technology. Where do you believe Validere’s technology will have the greatest impact?
The world produces approximately 100 million barrels of oil per day. Almost every barrel gets transfered, blended, commingled, stored or refined multiple times (on average 8-10x by our estimates) and at each one of these ‘touch points’ Validere can help track and record quality information as well as help reduce quality loss and ensure specification compliance. Our greatest impact lies in the transparency and accessibility of information we have on each barrel of oil. When I first encountered the core of our product offering, it didn’t seem possible to me. Validere can virtually and in real-time, monitor and quantify energy molecular properties. With such a massive data set that comes with our technology, we can not only help reduce loss but also optimize transport, predict blend outputs and even create real-time assays and distillation profiles.
Q3: What do you foresee to be the greatest change in the energy industry over the next 5 years?
The industry is currently in the midst of a massive shift from a focus on growth at all costs to responsibly driven shareholder and capital returns. There is a global trend calling out for sustainably-supplied energy and there is no doubt technology will be needed to help drive that transformation. Energy is essentially the world’s oldest and biggest industry yet it’s the only massive supply chain that has not readily adopted technology. This means there is an incredible opportunity for platform built energy technology solutions to help drive large efficiencies and rapidly transform the way the industry produces, moves, blends and refines energy molecules. At every step of the way having a laser focus on emissions, sustainability and decreasing quality loss. At Validere we feel our ability to partner with our clients on the leading edge of emissions quantification, reduction, measurement and molecular tracking will enable us to become a leader in ESG focused tech. This approach will ultimately create a winning scenario and help ensure a return of capital to shareholders.
Q4: What would we most likely find you doing on the weekend?
Weekends are always about spending quality time with family and friends. If I’m not wrestling with my two boys – aged 7 and 10 – then we are usually snowboarding, playing hockey or having fun in the snow. In the summer we’re usually lakeside, swimming, wakeboarding or surfing behind the boat. You’ll also find me hovering over the bbq 4 to 5x a week cooking something I know my wife will enjoy. It doesn’t matter if it’s -30C or +30C, grilling is definitely where it’s at! Last but not least, catching the latest series on Netflix or grabbing a good book is always on the list to help unwind. Recent favorites include ‘This is Us’, ‘Saturday Night Live’, and the ‘Mandalorian’. My choice of book is “The Three-Body Problem”. This is Liu Cixin’s sci-fi masterpiece about a forthcoming alien invasion in 400yrs time and the struggles humankind has in dealing with our likely demise. It’s such an incredibly thought provoking series, I’d highly recommend it!
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