NGIF Capital to fund Kuva’s methane monitoring system
25 August 2022
NGIF Capital Corporation has funded Kuva Systems’ continuous camera-based continuous monitoring system for methane emissions. The $360,000 project will demonstrate how Kuva’s system will continuously detect and quantify methane emissions ad upstream and midstream oil and gas sites.
Kuva Systems makes and sells a methane monitoring technology focused on measuring and managing emissions while helping upstream and midstream meet ESG goals and regulatory compliance. With offices in Boston, Calgary, and Houston, Kuva’s patented non-thermal infrared camera and cloud monitoring solution provides oil and gas companies with timely notification of methane leaks and the ability to investigate root causes of emissions.
Kuva will demonstrate its camera-based monitoring solution for unsupervised detection and continuous quantification of emissions at 40 upstream sites with several NGIF project participating members. NGIF participants in the project are Birchcliff Energy Ltd., Cutbank Dawson Resources Ltd. (a 100% subsidiary of Mitsubishi Corporation), CSV Midstream Solutions, Perpetual Energy Inc., PETRONAS Energy Canada Ltd., Shell Canada Energy, and Tourmaline Oil Corp.
Currently, the cameras are used to monitor methane emissions at the NGIF Emissions Testing Centre, which is a platform for startups to validate their technologies in a collaborative and live gas operations environment. The cameras continuously detect and visualize methane emissions off liquid storage tanks.
“Innovative, accurate methane detection and measurement technologies like Kuva’s are important in helping the gas industry understand and reduce their emissions,” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “NGIF Industry Grants and its focus on startups de-risking clean technologies through field trials and pilots are part of NGIF’s integrated model of industry validation, customer creation, and market commercialization.”
“Tank emissions are the main contributor to upstream oil and gas methane emissions. Currently, there is no safe and cost-effective measurement and monitoring solution of vent emissions for an extended period of time to help oil and gas producers measure them to determine mitigation alternatives,” says Stefan Bokaemper, CEO of Kuva Systems. “We are thrilled to be able to demonstrate the Kuva solution to the NGIF oil and gas company partners to help them reduce emissions with the ability to investigate root causes of emissions and improve operations.”
NGIF Corporation is a Canadian venture capital firm offering grant and equity financing for startups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Industry Grants is an industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas industry.
NGIF Industry Grants develops, demonstrates, and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen.