BP ventures has invested $5 million in a cloud-based geospatial analytics software company that monitors environmental changes, including methane emissions.
Satelytics collects high resolution spectral imagery from the planet’s surface using satellites, drones, and planes.
Its technology creates electromagnetic signatures that can be used to detect environmental changes, including releases or leaks.
Its software visualises these data sets to give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.
BP’s investment will enable Satelytics to develop its technology further and scale its applications throughout the oil and gas sector.
Use of the technology has the potential to be part of BP’s aim to install methane measurement at all major oil and gas processing sites by 2023, publish the data and then drive a 50% reduction in methane intensity of its operations.
Morag Watson, BP senior vice president of digital science and engineering, 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.”
Sean Donegan, chief executive of Satelytics, 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.”
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