Earlier this year, Calgary.tech reported on Fuelled unveiling changes to its executive team alongside the launch of new software.
The Calgary-based “Amazon of surplus equipment” operates an online platform through which energy companies can acquire preowned tech and equipment.
“As equipment costs have increased, companies are increasingly looking at used equipment and we are helping remove friction in this market,” chief executive officer Raj Singh remarked at the time. “Our mission has always been to empower energy companies with tools that drive efficiency and profitability.”
This month, Fuelled says that it surpassed 500 new consignment listings in October, a record for the company.
These listings included entire gas plants, work camps, pumps, compressors, turbines, and a “variety of clean energy infrastructure,” according to a statement from the Canadian firm.
“Crossing 500 consignment listings in a single month is a meaningful proof point for our model,” commented CEO Singh.
According to Singh, “Sellers want speed and certainty when they ask for help [and] buyers want transparent pricing and vetted assets—and our platform is delivering both.”
Consignment listings include detailed photos, video, specs, and a map for logistics.
“The consignment model is working well in this market,” Singh stated.
According to Singh, “We catalogue the items, pay for ads, market to our end users, and provide an in-house sales and logistics team, all at our cost.”
All a clients needs to do, he says, “is let us know what they want listed and then we proceed with these steps and bring them offers for their equipment.”
Fuelled was also tapped by PwC to act as exclusive sales agent and marketplace portal for the disposition of Long Run’s surplus equipment as part of a receivership process.
Founded in 2013, Fuelled made The Globe & Mail’s annual list of top growing Canadian companies five years in a row.