Japan Energy Fund announces investment in GHGSat, the global leader in greenhouse gas emissions intelligence
London, 8 September 2023 — Japan Energy Fund is pleased to announce that it has invested in GHGSat through Japan Energy Fund’s (JEF) Decarbonized Tech Fund. GHGSat, based out of Montreal, Canada, is a global leader in greenhouse gas emissions intelligence. By using its own satellites and aircraft sensors to measure greenhouse gas emissions directly from industrial sites, it provides actionable insights to business, government and financial services organizations.
This US$44M Series C1 financing round includes funding from the Fonds de solidarité FTQ, Investissement Québec, Business Development Bank of Canada (BDC) Capital, Climate Investments, and the Bank of Montreal (BMO).
(Image Source: GHGSat)
In order to reduce and mitigate greenhouse gas emissions, monitoring and identifying their sources is critical. Global regulation particularly around methane, which has a warming effect 86x stronger than carbon dioxide over a 20 year period, is increasing as a key lever to limit global warming. Companies across industries, from emitters such as the oil and gas industry to those with emissions reporting needs such as the financial industry, need accurate and accessible data. GHGSat enables monitoring at a global level as well as resolution at a point-source level that is necessary to drive action.
Identification and reduction of methane and carbon dioxide emissions is also necessary for Japan, especially given its fossil-fuel dependency with the world’s largest LNG import capacity. The government has also joined international pledges and initiatives to mitigate methane, especially from the energy and waste sector. GHGSat’s technology and data can enable both the public and private sectors in Japan to deliver on these targets and net-zero goals.
About GHGSat’s satellites and platform
GHGSat enables customers to identify, attribute and predict emissions through global monitoring of facility-level methane emissions. GHGSat fuses data from multiple sensors and sources, including their own satellites, to analyze trends and emission patterns that help reduce emissions and lower monitoring costs, and GHGSat’s measurements have been rigorously validated by third-party commercial and scientific organizations.
GHGSat has satellite services agreements in place for hosted payloads on three new satellites scheduled to launch before the end of 2023 and another four new satellites scheduled for launch in 2024, including one hosted payload in each deployment dedicated to monitoring carbon dioxide. The company launched its first satellite in 2016 and currently has nine satellites in orbit.
GHGSat’s software platform provides customers with monitoring and data services, analytics and alerts, and additional value-add insights and alerts depending on subscription tier.
GHGSat uses its own satellites and aircraft sensors to measure greenhouse gas emissions directly from industrial sites, providing actionable insights to businesses, governments, and financial services. With proprietary remote-sensing and patented technology, GHGSat enables strategic decision-making through monitoring and
analytics services, with better accuracy, more frequently, and at a fraction of the cost of other technologies.
Comment from Stephane Germain CEO of GHGSat
GHGSat welcomes the Japan Energy Fund as a new and valued investor. We are excited to gain better market access to Japan, and for the new opportunities this access will provide.
Yohei Kiguchi, Founder and CEO of Japan Energy Fund and ENECHANGE Ltd.We are excited to announce our investment in GHGSat, our portfolio of innovative companies that will help our efforts to accelerate the energy transition in Japan and beyond. Monitoring greenhouse gas emissions, in particular methane, is critical for our decarbonization efforts. We are confident that GHGSat’s solution will help provide better visibility of sources of emissions and induce the right course of actions to reduce/ stop these emissions.