From humble beginnings, Veridapt has expanded all over the world over 20 years. But it hasn’t forgotten its roots as an Australian company.
From a rugged fuel controller on a dusty Australian mine site to a global technology platform tracking everything from diesel to data, Veridapt’s two-decade journey is a story of endurance, innovation and evolution.
As the company marks 20 years of operation, Veridapt chief executive officer David Thambiratnam reflects on a milestone few Australian tech firms reach, and what it means to keep innovating in an industry that never stands still.
“In 20 years, we’ve never lost a customer,” Thambiratnam told Australian Mining. “Every single one of our customers has grown with us, stayed with us and expanded with us. That talks to the robustness of the solution and how well everything works.”
That kind of loyalty represents a major achievement in a sector where reliability is everything. From its earliest days, Veridapt’s technology has been relied on to power and monitor some of the world’s most demanding industrial operations, environments where failure is not an option.
Veridapt’s story began in 2005, when fuel systems in the mining industry often couldn’t survive the harsh conditions of remote Australian operations. This prompted the team to build its own units, developing technology that was durable by necessity and intelligent by design.
Those early lessons in durability, connection and the marriage of software and hardware laid the foundation for a company that has consistently anticipated the next wave of industrial transformation.
By 2010, Veridapt had created the world’s first touchscreen fuel management system, AdaptMAC, and later pioneered cloud-based industrial monitoring through its AdaptIQ and AdaptSCF platforms.
“Technology changes all the time,” Thambiratnam said. “The trick is applying just the right amount of technology, the right people and the right rationale.
“You can pick the wrong technology and end up with an expensive or ineffective solution.
Thambiratnam said Veridapt’s problem-solving process has always been about understanding the customer deeply and then choosing what really works.
That balance of innovation and practicality has guided the company through two decades of rapid technological evolution, from on-site ethernet systems to satellite connectivity, cloud platforms and now artificial intelligence (AI).
In an industry known for its relative volatility, Veridapt’s longevity stands out. The company has outlasted most Australian start-ups and scaled globally while remaining independent and profitable.
“Not a lot of companies make it to 10 years, let alone 20,” Thambiratnam said. “So to make it this far and be thriving is quite an achievement in itself.”
That endurance, he said, is not just about technology. It’s about people.
“We’ve been very deliberate about who we bring into the team,” Thambiratnam said. “It’s astounding what we pull off for our size. There’s a lot of goodwill, passion and dedication that goes into making this work.”
That human focus underpins Veridapt’s DNA, a culture of adaptability reflected in its name. The company rebranded to Veridapt in 2020, symbolising its commitment to verification and adaptation as the twin engines of progress.
While its roots are firmly in Australian mining, Veridapt’s expansion into international markets has brought opportunity and challenge.
The company is currently deployed on more than 300 sites worldwide, supporting leading Tier 1 mining and rail clients with innovative solutions that keep operations running safely and efficiently.
Veridapt’s global journey revealed that what works in one region often needs recalibration elsewhere.
“You can think a mine in Australia is the same as one in Canada or Chile, but every region has its nuances,” Thambiratnam said. “The business models for fuel delivery, the regulatory environments, even what customers value. It all differs.”
In some markets, enterprise-grade cloud analytics are essential; in others, reliability and simplicity rule.
The company learned to tailor its products, from AdaptSMU to AdaptNX, to meet distinct needs without losing its core promise of robust, reliable insight into industrial energy and asset use.
That flexibility has been key to Veridapt’s success in new sectors such as rail and logistics, where real-time visibility and control are critical.
And as the mining industry transitions to cleaner energy, Veridapt is again ahead of the curve. Its technology, originally designed to track and manage diesel fuel, is now integrating electric vehicle (EV) chargers, hydrogen systems and renewable energy sources into a single intelligent monitoring platform.
“At the heart of what we do is helping customers with large industrial fleets manage their energy, whether that’s refuelling or recharging,” Thambiratnam said. “The good thing about us is that we don’t really care what the energy source is. We can integrate with EV chargers, hydrogen pumps. The logic of what we do stays the same.”
This transition is only just beginning in mining, but Veridapt’s readiness gives it a significant head start.
As mines adopt mixed-energy fleets that combine diesel, biodiesel, hydrogen and electric, Veridapt’s platform helps them track consumption, cost and emissions in real-time.
The company’s roadmap also extends to monitoring mining outputs. Beyond managing fuel and energy, Veridapt is now helping clients track their commodity inventories, from gold and uranium stockpiles to fertiliser production.
“It’s the same problem,” Thambiratnam said. “You need to know where it went, how much is left, and reconcile it accurately.
“We’ve started doing that for our mining customers. It’s new, but it’s growing quickly.”
After 20 years, Veridapt’s biggest challenge is not finding growth, but managing it responsibly.
“The market is massive and our challenge is growing too quickly,” Thambiratnam said. “We need to scale in a way that keeps our customers front and centre.”
Looking ahead, the company is preparing for further expansion into adjacent industries such as transport, logistics, aviation and defence – sectors facing familiar challenges in energy management, sustainability and data integration.
At the same time, Veridapt plans to deepen its offering within mining, leveraging AI and predictive analytics to give companies clearer visibility and control over their operations.
“Mining is at the core of our business,” Thambiratnam said.
“There’s so much you can do with the data. Bringing AI into the applications and making it easier for customers to achieve their outcomes is still core to what we do.”
As Veridapt celebrates its 20th anniversary, the company has shared its ‘20 Lessons from 20 Years of Fuelling Innovation’, a reflection of the milestones and philosophies that shaped its growth
The company has simple – yet powerful – lesson after two decades of adaptation and success: innovation never clocks out. It’s a fitting summary of a business that continues to thrive by staying restless, relevant and relentlessly customer-focused.