Why We Invested: AIRMO
Advanced greenhouse gas (GHG) detection and monitoring technology to help slow the rate of global warming
Ananda Impact Ventures has made a Pre-Seed Round investment in AIRMO, a start-up pioneering a new approach to detecting and tracking methane and CO2 emissions using a small satellite constellation.
Reducing methane in the atmosphere is the fastest way to combat climate change, so we believe that this is a vital area for Ananda to be involved in.
AIRMO is Ananda’s second investment in the NewSpace sector following our successful funding of thermal intelligence start-up OroraTech.
Other investors in this Pre-Seed Round include OroraTech chairman Christian Federspiel, space tech investor E2MC and UK-based impact investors PiLabs, plus support from accelerator Antler.
Why methane detection matters
Everybody knows that we have to reduce greenhouse gas (GHG) emissions if we’re to mitigate the effects of global warming and stop the worldwide temperature increase going beyond 1.5°C. But what we don’t know with any degree of accuracy is exactly how much GHG is being emitted. For example, the average error rate in emission measurement is somewhere in the region of 25–30%. In particular, total emissions from the oil & gas sector have been significantly underestimated, being up to 3x higher than the reported data.
While measures to tackle climate change have predominantly focused on CO2 reduction, methane (CH4) is the second biggest contributor to the problem. Approximately 30% of global warming can be attributed to methane emissions, with the IPCC calculating that methane in the atmosphere needs to be cut by 37% by 2030 if we’re to keep below that 1.5°C threshold. While methane concentrations are lower than CO2, it’s a significantly more potent GHG, with a warming potential 83x stronger than CO2 over a 20-year period.
However, tracking methane is particularly complicated. Not only is it produced intermittently by oil wells, gas pipelines, coal mines and landfills, but also emitted by millions of farms around the world. Because of this wide dispersal, current tracking technologies — both ground- and satellite-based — are unable to accurately locate and measure where methane emissions are taking place. And without this data, it is impossible to properly identify where mitigation measures and regulations need to be focused.
Real-time monitoring with unprecedented granularity
The good news about methane is that, unlike CO2, which can remain in the atmosphere for centuries, methane only lasts for about ten years. As such, if we can reduce the amount of methane going into the atmosphere, this will have a much quicker impact on slowing the rate of global warming than CO2 reduction, which requires a far longer timeframe.
AIRMO’s solution to the challenge of accurate methane detection and tracking over a large geographic area is a small satellite constellation that uses cutting edge LiDAR (light detection and ranging) technology and other sensors to monitor methane emissions in real time with exceptional granularity. This means that CH4 levels can be detected at single facilities and multiple locations alike.
Providing a more accurate overview of methane emissions delivers two major benefits:
- Stakeholders in the energy sectors will have much greater insight into how and where their operations are producing methane, and thus where to focus their mitigation efforts and achieve compliance with incoming regulations.
- Regulatory authorities will also be able to identify with greater accuracy those companies and businesses emitting too much methane. Both the EU and the EPA in the US are proposing regulatory limits on methane production, with penalties for those operators who emit above a set threshold.
AIRMO’s proposal is to launch a constellation of satellites providing global coverage and a continuous data stream. The onboard LiDAR instrumentation will work in tandem with a high resolution camera and SWIR spectrometer to deliver intelligent, actionable data to customers.
Due to a current lack in the market of effective methane detection solutions, AIRMO is initially focusing on this area — however, its technology will also be used for CO2 monitoring.
Ananda and AIRMO: perfect partners
With growing indications that methane emission measurement will soon become a regulatory requirement for companies, AIRMO is well-positioned to deliver a solution that could play a major role in the fight against climate change. Its clear potential for delivering significant impact, plus its use of innovative technology, makes AIRMO an attractive investment for Ananda.
Florian Erber, Managing Partner & Founder of Ananda, says: “We invest in leading edge technology solutions that address crucial challenges such as global warming, so AIRMO is a perfect fit for our portfolio. We were also attracted by the strength and diversity of the executive team. It really is fantastic to be working with a high-tech company where both the CEO, Daria Stepanova, and the CCO, Harriet von Kügelgen, are female, and the array of talent stretches from tech-savvy innovators to industry veterans.”
Ananda believes there is no greater challenge facing the world than climate change, and the more impact we can deliver in this area, the better. We are proud to be in the position to support companies like AIRMO, as we strive to do everything we can to solve the problems that really matter.
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