SeekOps Inc. Secures Venture Funding to Scale Energy Sector Emissions Inspection Solutions
SeekOps Inc., a company which develops and fields advanced sensor technology to detect, localize, and quantify natural gas emissions through integrated drone-based systems, has secured funding from two strategic investors as part of its Series A-1 fundraising. These investors include the OGCI Climate Investments fund (OCGI CI), and Equinor Technology Ventures (ETV), the venture arm of Norwegian multinational energy company Equinor.
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SeekOps was formed in 2017 as a technology spinoff from NASA’s Jet Propulsion Laboratory. The company manufactures miniature gas sensors, called SeekIR®, and integrates them onto drones to provide unique capabilities for emissions detection, localization, and quantification. Using their proprietary technology solution, SeekOps enables comprehensive emissions inspection in a fraction of the time required by traditional ground surveys, resulting in significant cost savings for operators. SeekOps’ state-of-the-art capabilities were validated during the 2018 Mobile Monitoring Challenge, an independent evaluation led by Stanford University and the Environmental Defense Fund, as the top-performing technology for emissions localization and quantification on Unmanned Aerial Systems.
According to CEO Andrew Aubrey: "The use of SeekIR precision sensors on drones provides the oil and gas industry with an efficient solution for emissions inspection that saves operators time and money. This value has been realized by multiple oil and gas customers as a prime business case – early adoption is strong in US and international markets."
SeekOps currently offers energy sector drone services using its gas-sensing capabilities in the upstream and downstream oil and gas markets. In addition to current field services, SeekOps’ growth plans for 2020 will emphasize product sales and real-time data reporting. The SeekIR product line will include handheld and vehicle-mount sensors to increase emissions measurement and reporting standards across the industry for environment, health, and safety.
Equinor, a member company of OGCI CI, has been an early adopter of SeekOps technology since 2017. Equinor previously invested in SeekOps through ETV in June 2018 and also participated in this follow-on round. "Equinor remains excited about the company’s development and continues to follow its growth with great interest. We are pleased to be joined by OGCI CI as co-investor in SeekOps and look forward to working together in the future," says Rannfrid Skjervold, Managing Director, ETV.
Pratima Rangarajan, CEO of OGCI Climate investments, said, "At Climate Investments, we are focused on finding innovations that can detect, measure and mitigate methane emissions. SeekOps’ technology is complementary to the rest of our portfolio and provides a cost-effective and accurate method for detection, localization, and quantification of emissions."
About OGCI Climate Investments
OGCI Climate Investments LLP is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains. The Fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. We invest in innovative companies that are ready to be commercialized. We collaborate with global co-investors and industrials to achieve speed and scale.
For more information, please visit: www.oilandgasclimateinitiative.com
About Equinor Technology Ventures
Equinor Technology Ventures supports small and medium enterprises (SMEs) with exciting new technologies in oil and energy – and in turn, helping Equinor be the world’s most carbon-efficient oil and gas producer with a developing renewable business.
For more information, please visit: www.equinor.com/en/how-and-why/equinor-technology-ventures.html
About SeekOps Inc.
SeekOps provides low-cost, accurate, and efficient emissions inspection services to oil and gas companies in the United States and global markets. Leveraging expertise in small unmanned aerial systems (UAS) coupled with our proprietary methane sensing technology, SeekOps provides industry-leading services and sensors for leak detection, localization, and quantification. SeekOps provides emissions inspection services to the oil and gas industry, including several supermajors and various gas utility companies both domestically and internationally.
For more information, please visit: www.seekops.com