UK-based quantum optical sensor startup QLM announced Thursday that it has raised $12 million in funding. GBP (approx. EUR 14.24 million) in Series A funding. The round was led by Schlumberger, a technology company that works with clients to “develop industry-changing technologies that bring cleaner and safer access to energy to every community.
Existing investors Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures and several private investors also participated in the round. New investor Quantum Exponential also joined the round.
Cooperation with Schlumberger
QLM has also signed a collaboration agreement with Schlumberger to improve detection of greenhouse gas emissions.
With help from Innovate UK, QLM has developed a new type of LiDAR camera based on quantum technology that can not only see but also accurately measure greenhouse gas emissions.
The Gas Image Meter helps customers monitor, detect, pinpoint and quantify the sources of greenhouse gas (GHG) emissions for rapid remediation. A version of the related product allows you to measure flash performance remotely. Global deployment of QLM LiDAR technology is possible due to its inherent scalability to low cost at high volumes.
Murray Reed, CEO of QLM, says: “This technology is unique in the emissions monitoring market as it can achieve the highest greenhouse gas reductions at the lowest total cost of ownership. The funding will allow us to scale up production and significantly reduce costs as we bring our solution to various greenhouse gas emissions areas and markets.
How will Schlumberger support QLM?
The strategic collaboration will enable QLM technology to become part of Schlumberger’s new Extrusion Solutions (SEES) business offering for the oil and gas industry.
The methane monitoring service offered by SEES builds on previous investments in sensors on satellites, aircraft and drones, as well as additional sensors developed internally, according to the statement.
When continuous monitoring is required, QLM LiDAR technology provides accurate and sensitive measurements that complement conventional mobile monitors. For missiles that cannot yet be destroyed, the ability to measure the effectiveness of the flashes will ensure optimal performance.
Kahina Abdeli-Galinier, Schlumberger Emissions Business Director, says: “SEES selects partners after a rigorous technical evaluation to identify innovative technology that complements our existing measurement solutions. QLM’s LiDAR technology will allow operators to continuously monitor their facilities for methane emissions, and the technology excels in its ability to detect even small emissions; accurately quantify emissions; to provide effective information in pinpointing the source of the emission; and accommodate all sizes of upstream, midstream and downstream facilities.
Briefly about QLM technology
Founded in 2017 with support from the University of Bristol’s Center for Quantum Technology Enterprises, QLM is a photonics technology and analytics company headquartered in Cardiff with operations in Bristol and San Francisco.
The company has developed a new type of gas imaging camera that combines LiDAR and gas absorption spectroscopy with single-photon detection. This imaging technology can detect, visualize, localize and accurately quantify greenhouse gas (GHG) emissions.
This solution helps customers in GHG-intensive industries to cost-effectively identify and prioritize pollutants.
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