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June 23, 2020

BP Ventures invests in geospatial analytics firm for methane leaks

BP's investment arm BP Ventures has invested $5m in a Cloud-based geospatial analytics software firm Satelytics.

By Himaja Ganta

BP ‘s investment arm BP Ventures has invested $5m in a Cloud-based geospatial analytics software firm Satelytics .

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The new investment in the geospatial analytics firm will help the oil and gas major spot methane leaks.

Satelytics uses advanced spectral imagery and machine learning (ML) to monitor environmental changes, which also include methane emissions.

It leverages satellites, drones, and planes to gather spectral imagery from the planet’s surface to detect changes in the environment.

These high-resolution images are combined with proprietary algorithms to develop ‘unique electromagnetic signatures’.

This aids in identifying changes in the environment and detecting emission releases or leaks.

BP digital science and engineering senior vice-president Morag Watson said: “Satelytics is modernising the energy sector by making data about physical assets more accessible and digestible, leading to better decision-making.

“We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalisation.”

According to BP , the investment will also enable Satelytics to further develop its technology.

Satelytics chief executive Sean Donegan said: “BP ’s early use of our detection and quantification software has inspired us to expand our capabilities.

BP ’s investment marks an inflexion point for Satelytics , which will assist us in expanding our technological capabilities and fuel future innovation.”

In February this year, BP announced it will achieve net-zero greenhouse gas emissions ‘by 2050 or sooner’.

In January 2019, BP Ventures invested £5m in an artificial intelligence (AI) technology firm Belmont Technology in an effort to bolster the company’s AI and digital capabilities in its upstream offshore business.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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