A little over two years since it launched its first satellite to monitor global gases, GHGSat took another step towards launching more satellites by raising US$10M in a Series A2 financing.
The funds bring to $20M GHGSat has raised to date, including funds from the Alberta and federal governments.
This round of financing was led by OGCI Climate Investments and includes Schlumberger, Space Angels, and the Business Development Bank of Canada.
Stéphane Germain, CEO of GHGSat said of the raise, “this funding accelerates the commercial deployment of our service by growing our team and adding both capability and capacity. It also secures access to some of the largest customers in the world for our services. We’re very excited for this next stage of our growth.”
The company said in its press release that it will use the funds to “accelerate commercialization efforts, expand its custom analytics services for its growing customer base, as well as fund the launch of an additional GHGSat satellite.”