GHGSat has raised $30 million (£23m) to support the construction of its unique fleet of emissions-detecting satellites and deployment of analytics to key markets.
The funding was led by the Government of Québec, with participants also including OGCI Climate Investments, Business Development Bank of Canada, Fonds de solidarité des travailleurs du Québec (FSTQ), Space Angels and Schlumberger.
GHGSat says its satellites can detect methane emissions from sources 100 times smaller than any other system and with a resolution 100 times higher than those systems. That means GHGSat can identify methane emissions from point sources as small as oil and gas wells.
Methane has a global warming potential around 84 times greater than that of carbon dioxide over 20 years and is said to be responsible for around 25% of manmade global warming.
The funding will support the development and launch of three high-resolution satellites plus a sensor based on the company’s space technology but tailored for use in aircraft.
It will also enable GHGSat to expand its analytics capability in Canada and open a new global intelligence centre in the UK, investigating manmade greenhouse emissions in territories around the world, excluding North America.
The space-based data and analytics enables regulators and sectors such as oil and gas, waste management, mining, energy and agriculture to properly assess and track emissions and take prompt action to address them.
Pierre Fitzgibbon, Minister of the Economy and Development said: “Québec can count on its growing spatial industry, including a dynamic aerospace sector, where innovative new companies like GHGSat are making their mark globally. This investment represents the Government of Québec’s commitment to the export of our engineering expertise and contribution to a transition towards a greener economy.
“GHGSat provides an innovative high-precision solution that enables the detection of greenhouse gas emissions worldwide. The government supports forward-thinking projects like GHGSat’s as these opportunities are beneficial to both the economy and the environment.”