Montreal-based GHGSat, which builds global emissions monitoring solutions, has received $3.3 million from Sustainable Development Technology Canada.
GHGSat is using the funding on a project that measures emissions of oil and gas facilities in British Columbia’s Montney region. The goal of the project is to demonstrate that a tiered monitoring system, using GHGSat’s satellites and aircraft instruments, can detect more leaks quicker and at a lower cost than the regulatory standard, which is based on optical gas imaging cameras.
“GHGSat understands the need for globally standardized technology to quantify GHG emissions from industrialized facilities.”
The project has a total value of $9.8 million CAD, and will have field operations beginning in early 2020.
GHGSat uses satellite imagery and data analytics to measure greenhouse gases and air quality. It can monitor targeted sites like gas leaks, provide estimates on areas over a year, and include trends analysis. It owns and operates high-resolution satellites designed to measure greenhouse gas emissions from industrial facilities around the world.
“These funds will allow GHGSat to demonstrate to regulators that our technology can offer accurate and more frequent measurements, enabling industrial operators to identify and repair leaks faster, all for lower cost than conventional methods,” said Stéphane Germain, CEO of GHGSat. “We’re very excited to be partnering with SDTC again for this next stage of our growth.”
In April 2018, GHGSat was among a number of cleantech startups that received an overall $40 million from BDC. This year, GHGSat also received a Visionary award from PwC, which recognizes companies with up to $50 million in revenue.
“GHGSat understands the need for globally standardized technology to quantify GHG emissions from industrialized facilities,” said Zoe Kolbuc, vice president of partnerships at Sustainable Development Technology Canada. “Their innovative satellites can reduce monitoring costs in the oil sands by over 50 percent. More frequent and accurate reporting better informs the industry on where and how to reduce GHG emissions. SDTC is proud to invest in GHGSat as it develops a solution to help reduce GHG emissions from industrialized sites.
Founded by the Government of Canada, Sustainable Development Technology Canada supports Canadian companies that develop and demonstrate new environmental technologies that address climate change, clean air, clean water, and clean soil.
Image source Unsplash. Photo by Thomas Millot