Methane management platform SensorUp nabs C$12m in Series B

• Climate Investment led the round, with participation from Evok Innovations
• Mike Bishop, Climate Investment’s investment director, will join SensorUp’s board of directors
• Occidental is using SensorUp’s technology to optimize its methane reduction to help the company achieve net-zero targets

SensorUp, a Calgary-based geospatial platform for methane leak detection and repair, has secured C$12 million in Series B financing.

Climate Investment led the round, with participation from Evok Innovations.

Mike Bishop, Climate Investment’s investment director, will join SensorUp’s board of directors, with Daniel Palmer, Climate Investment’s commercialization director, joining as an observer.

Founded in 2014, SensorUp is a provider of enterprise software for methane emissions measurement, reporting, verification and repair. SensorUp Gas Emissions Management Solution is designed for methane management programs in the oil and gas industry.

Occidental is using SensorUp’s technology to optimize its methane reduction to help the company achieve net-zero targets.

“Many oil and gas operators have found it difficult to reduce emissions because they do not have a way to map emissions data to their operations,” said Climate Investment’s Bishop in a statement. “SensorUp GEMS completes the picture by integrating emission data from all methane detection providers, including our portfolio of methane detection technologies, allowing operators to correlate emissions to operations, leading to better maintenance and predictive capability.”

Climate Investment, formerly OGCI Climate Investments, was founded by members of the Oil & Gas Climate Initiative. Based in London, it is a specialist investor focused on accelerating capital-efficient decarbonization of heavy-emitting sectors.