What Imarex Technology does

Imarex Technology AS is a privately held Norwegian SaaS company headquartered in Oslo that operates an AI-powered decision-support platform branded as the Traffic Light system. The platform combines human behavior science, artificial intelligence, fundamental research, and machine learning to deliver color-coded predictive forecasts that guide timing decisions for bunker procurement, jet fuel hedging, EUA/CO2 quota management, currency exchange, and salmon spot/futures pricing. It produces over 5,000 live forecasts daily at claimed accuracy above 60% and outperformance of more than 20% versus market averages, delivering documented customer outcomes such as 5-10 USD per metric ton savings in shipping bunker procurement and 3-5% cost reduction in aviation operations.

The company's product surface is modular, anchored by the core Traffic Light platform and extended through vertical-specific modules: Traffic Lights Shipping, FX Lights, Aviation, Aquaculture, Environmentals (EU ETS), TLTrading (algorithmic execution), and Imarex Tailored (customizable dashboards and workflows). Delivery is API-first via system.imarex.no with integration into client execution venues. Revenue is generated through subscription-based SaaS access, bespoke algorithm development under TLTrading, and made-to-measure customization engagements, supplemented by freemium entry points (Brent Free Trial, 1-month Aquaculture trial) and enterprise field sales. Customer evidence spans more than 20 countries and 3,000+ vessels, with named enterprise logos including DS Norden (USD 1.1bn+ addressed annual bunker spend), Thorvald Klaveness, Clarksons, Marex Spectron, UltraBulk, and Athenian Carriers, alongside 100+ aircraft supported in aviation and 140+ gas stations covered for FX/fuel optimization.

Imarex was founded by Herman Michelet in 2007, building on his 13 years at RS Platou/Clarksons, and originally operated as a maritime exchange that reached a peak market capitalization above USD 200M. Under Chairman Oddbjørn Lende (joined the board in 2017), the company restructured from a brokerage model into a SaaS provider. The current leadership combines founding domain expertise with newly added commercial scaling capability via Sales & Marketing Director David Cummins (ex-Infront Finance, SS&C Advent). The company remains founder-controlled with no disclosed institutional venture or private equity backing, and operates a lean team of 1-10 employees across Oslo, Edinburgh, and Trondheim.

Name

Imarex Technology

Legal name

Imarex Technology

Website

https://imarex.no

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Imarex Technology AS is a Norwegian SaaS provider offering an AI-driven Traffic Light decision-support platform that delivers predictive forecasts for bunker procurement, jet fuel hedging, FX, salmon pricing, and EU ETS compliance, serving enterprise clients in shipping, aviation, aquaculture, and energy across 20+ countries.

Ownership category

akta.pro rank

Product category

Predictive Decision Support Software

NAICS

Custom Computer Programming Services (541511), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Algorithmic Trading & Execution Platforms (FSAFANAN)

akta.pro secondary industry

Execution Management Systems (EMS) & Smart Order Routing (SOR) Platforms (FSAFANAM)

Keywords

• Predictive decision support
• Commodity price forecasting
• Bunker procurement optimization
• Algorithmic trading platform
• Emissions trading analytics

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription - Traffic Light Platform: Subscription-based access to the Traffic Light decision support platform providing real-time forecasts across shipping, aviation, FX, and aquaculture markets. Delivers over 5,000 live forecasts daily. EU ETS Traffic Lights now available for subscription.
2. Custom Algorithm Development (TLTrading): Bespoke algorithmic trading solutions customized to client-specific needs and exposure, including API to execution venues.
3. Tailored/Made-to-measure Application: Customizable application allowing customers to shape the solution according to unique business processes and requirements.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Imarex Technology AS operates a SaaS decision support platform called the Traffic Light system, which combines human behavior science, artificial intelligence, fundamental research, and machine learning to deliver over 5,000 daily forecasts across shipping (bunker procurement), aviation (jet fuel and EUA hedging), FX (currency timing), aquaculture (salmon pricing), and EU ETS (carbon allowances) markets. The platform provides color-coded buy/wait signals and API connectivity to client trading and execution systems, achieving more than 60% accuracy and outperforming market averages by over 20%.

Product overview

Imarex Technology operates as a SaaS decision support provider offering a unified Traffic Light platform enhanced by specialized modules. The core Traffic Light System combines human behavior science, AI, fundamental research, and machine learning to deliver actionable forecasts across multiple markets. This platform is extended through vertical-specific modules: Traffic Lights Shipping optimizes bunker procurement, FX Lights handles currency exchange optimization, Environmentals addresses EU ETS compliance, TLTrading provides algorithmic trading, Aviation covers jet fuel and hedging, Aquaculture serves salmon market forecasting, and Imarex Tailored enables customization. The modular architecture allows clients to subscribe to specific solutions or access a comprehensive integrated system.

Differentiator

Problem solved

Functional benefit

Brands

• Traffic Lights: Decision support system utilizing predictive models combining human behavior science, artificial intelligence, fundamental research, and machine learning. Includes modules for Shipping, FX, Environmentals, and Aviation markets.
• TLTrading
• Imarex Tailored
• Aquaculture Traffic Lights

Products and services

• Traffic Light System The Traffic Light system is Imarex's core SaaS decision support platform combining human behavior science, artificial intelligence, fundamental research, and machine learning. It delivers over 5,000 live forecasts daily with more than 60% accuracy across shipping, aviation, FX, and aquaculture markets, helping organizations anticipate change and optimize operations.
• Traffic Lights Shipping A specialized Traffic Light module for the shipping industry that optimizes bunker procurement timing through color-coded signals (green for buy today, red for wait) for specific ports and fuel grades, delivering documented savings of 5-10 USD per metric ton.
• FX Lights A Traffic Light module for foreign exchange that leverages advanced algorithms with real-time data to provide accurate predictions for currency movements. FX Lights optimizes timing for currency exchange, hedging entries, and unwinding of hedges, improving financial results and reducing workload.
• Aviation Hedging System A comprehensive aviation module optimizing jet fuel, EUA (European Union Allowances), and currency exchange timing. The system reduces costs by 3-5% and improves operational efficiency through optimized hedges versus cabin factors, ticket prices, and jet fuel volatility, with no software installation required.
• Aquaculture Salmon Forecast A salmon market forecasting module providing spot and futures price predictions, offering assistance in optimizing procurement, sales, and hedging procedures throughout the sea protein farming value chain, combined with FX optimization for improved profit margins.
• EU ETS Traffic Lights A dedicated Traffic Light module for EU Emissions Trading System compliance. It helps optimize and monitor carbon quota performance with a KPI model to benchmark user performance versus the market.
• TLTrading Algorithms Advanced algorithmic trading utilizing proprietary Traffic Light models. Imarex offers algorithms designed for hedging and automated portfolio optimization, customized to specific client needs and exposure with API access to suggested execution venues.
• Imarex Tailored A made-to-measure customization application that allows customers to tailor the entire Traffic Light system to align with their specific business processes, including flexible dashboard layout and module arrangement.

Quantifiable outcome

• 5-10 USD per metric ton savings in bunker procurement
• +5 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature7 records

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Kpler: Kpler is a leading data and analytics platform for commodity markets including shipping, energy, and soft commodities. It directly overlaps with Imarex's shipping/fuel/commodity forecasting offering and serves many of the same enterprise customers (traders, shippers, refiners).
• Xeneta: Xeneta is a leading ocean and air freight rate intelligence platform serving shippers, forwarders, and carriers. It overlaps with Imarex's procurement optimization value proposition for shipping and aviation customers managing large spend on transport and fuel.
• Signal Ocean: Signal Ocean delivers AI-powered maritime analytics, including voyage optimization, tanker market analytics, and bunker insights. It is a direct competitor in shipping decision support and predictive analytics for charterers and operators.
• Vortexa: Vortexa provides real-time global oil and gas shipping analytics, including vessel tracking, freight rates, and cargo flow intelligence. Like Imarex, it targets shipping and commodity trading decision-makers with data-driven insights.

Broad incumbents

• S&P Global Platts: S&P Global Platts is a major commodity benchmarks and analytics provider for energy, petrochemicals, and shipping. It addresses similar customer problems to Imarex but at much greater scale and with a broader data portfolio.
• Argus Media: Argus Media is a global commodity price reporting and analytics firm covering energy, transportation, and agricultural markets. Its fuel/bunker price assessments and forecasts overlap with Imarex's shipping and aviation modules.
• Bloomberg Terminal: Bloomberg is a dominant market data and analytics platform covering FX, commodities, and shipping. Many of Imarex's enterprise customers use Bloomberg alongside Imarex, making it both a competitor and a complementary data source.
• Refinitiv (LSEG): Refinitiv, now part of LSEG, provides financial market data, FX, and commodities analytics used by trading desks globally. Its FX and trading analytics overlap with Imarex's FX Lights and TLTrading offerings.
• Clarksons Research: Clarksons Research (part of Clarkson PLC) is a long-established shipping intelligence provider offering comprehensive market data, forecasts, and analysis. It is both a customer of Imarex (Clarksons appears in the customer list) and a broader incumbent in shipping market intelligence.

Emerging players

• MarineTraffic: MarineTraffic provides vessel tracking, port calls, and maritime AIS-based intelligence used by shipping and commodity professionals. It is a more focused, narrower data provider than Imarex but addresses an overlapping customer base in shipping decision support.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/imarex-as
• Facebookfacebook.com/Imarex-Technology-100069707872572

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Imarex Technology