Calgary’s SensorUp has raised $12 million for its geospatial platform for methane leak detection and repair.
The Series B financing round was led by Climate Investment, an investor focused on enabling capital-efficient decarbonization of heavy-emitting sectors, and included Evok Innovations.
Methane emissions reduction is essential to oil and gas companies’ journey to net-zero operations. Methane is a powerful greenhouse gas, second only to carbon dioxide in its overall contribution to climate change. It is responsible for about a third of current climate warming, according to the International Energy Agency.
SensorUp has developed the SensorUp Gas Emissions Management Solution (GEMS), a data integration platform for methane leak detection and repair, measurement reconciliation, reporting, and verification of methane emissions. SensorUp GEMS enables swift detection and mitigation of methane emissions by providing contextualized, actionable, and auditable insight to its customers.
SensorUp GEMS enables oil & gas companies to be compliant with international standards, such as the United Nations’ OGMP 2.0 Gold Standard, GTI Veritas Protocols, ISO/OGC sensor web data standards, and more, resulting in transparent, accurate and factual emissions data for those companies’ customers.