GHGSat Secures $30 Million in Series B Funding
GHGSat revealed Thursday that it has successfully completed the first portion of Series B funding, raising $30 million. This brings the company’s total funding to $55 million. GHGSat is a provider of high-resolution greenhouse gas monitoring from space, and this new funding will help accelerate construction of its fleet of emissions detecting satellites.
GHGSat is the only emissions monitoring company with its own satellites. The additional funding will support the build 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 allow GHGSat to expand its analytics capability in Canada and open a new global intelligence center in the U.K.
Pierre Fitzgibbon, Minister of the Economy and Development explained: “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.”