GHGSat Gets $3.3 Million Funding from Government Sustainable Development Fund

GHGSat-C1 known as Iris. Credit: GHGSat.

GHGSat was awarded $3.3 million by Sustainable Development Technology Canada for a project to compare emissions data collected by terrestrial sensors with GHGSat’s combined satellite and aircraft measurements.

Sustainable Development Technology Canada (SDTC) is a foundation created by the Government of Canada to advance clean technology innovation in Canada by funding and supporting small and medium-sized enterprises developing and demonstrating clean technology solutions.

GHGSat was the first private company to own and operate high-resolution satellites to measure greenhouse gas emissions from industrial facilities around the world.

The project has a total value of $9.8 million and the balance of the funds are coming GHGSat’s Series A2 fundraising.

The 33 month project is expected to start in early 2020 and will includes sensors onboard GHGSat’s newest satellite GHGSat-C1, known as Iris, along with aircraft mounted sensors.

The only complication at the moment for this project to move forward is the pending launch of Iris. GHGSat’s newest satellite was schedule to launch in September on an Arianespace Vega launcher. However, on July 10 the 15th launch of a Vega by Arianespace resulted in failure. Currently an independent inquiry commission is conducting an investigation into the failure. Arianespace is hoping to resume Vega launches this year, and GHGSat told SpaceQ they are confident the satellite will launch by the end of 2019.

Stéphane Germain, CEO of GHGSat said “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. We’re very excited to be partnering with SDTC again for this next stage of our growth.”

Zoe Kolbuc, Vice-President, Partnerships, Sustainable Development Technology Canada also commented on the news saying “GHGSat understands the need for globally standardized technology to quantify GHG emissions from industrialized facilities. Their innovative satellites can reduce monitoring costs in the oil sands by over 50%. 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.”

About Marc Boucher

Boucher is an entrepreneur, writer, editor & publisher. He is the founder of SpaceQ Media Inc. and CEO and co-founder of SpaceRef Interactive LLC. Boucher has 20+ years working in various roles in the space industry and a total of 30 years as a technology entrepreneur including creating Maple Square, Canada's first internet directory and search engine.

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