GHGSat has secured $47 million CAD (≈$34 million US) in new financing to fuel its rapid global expansion and the continued evolution of its groundbreaking satellite technology and analytics services.
“The confidence from our investors, demonstrated through this new financing, underscores the growing global demand for emissions monitoring.”
Stephane Germain, GHGSat
The financing includes both convertible notes and debt. The convertible note portion was led by new investor Yaletown Partners, alongside existing investors Fonds de solidarite FTQ (FTQ) and BDC Capital. The debt portion was led by the National Bank of Canada with support from Export Development Canada (EDC).
“The confidence from our investors, demonstrated through this new financing, underscores the growing global demand for emissions monitoring,” said Stephane Germain, CEO of GHGSat. “At GHGSat, we are laser focused on building the most operationally useful technology on the market, coupled with advanced analytics capabilities that transform raw data into emissions intelligence.”
"With its groundbreaking satellite constellation, GHGSat created a technology that truly changed the way that we understand emissions today—moving from estimates to tangible and accurate measurements at a global level," said Sophie Gupta, Partner and Head of Responsible Investing at Yaletown Partners. "We are excited to partner together to keep moving the needle on methane, building the next phase of analytics capability and scale that embeds emissions data into the heart of strategic and operational decisions for carbon-intensive industries around the world."
“National Bank is proud to support GHGSat in its mission to drive environmental transformation,” said Channt Chea, Senior Director, Technology and Innovation Banking at National Bank. “This partnership reflects our ambition to support technological innovation that contributes to the reduction of global greenhouse gas emissions.”
In 2016, GHGSat launched the world’s first satellite capable of directly attributing methane emissions to individual industrial facilities. Purpose-built to support industrial operators to reduce emissions, GHGSat’s satellites pinpoint the source of methane leaks as small as 100 kg/hr, often down to individual pieces of equipment. Leveraging an unmatched daily revisit rate, GHGSat alerts operators about emissions within hours of detection. Alongside its fleet of satellites, GHGSat operates aircraft equipped with its patented sensor, complementing high-frequency satellite monitoring with targeted and rapid response campaigns.
To date, GHGSat has launched 14 satellites, which track emissions from millions of facilities annually to provide the most robust global coverage of methane emissions in the market. Since the company’s founding in 2011, GHGSat has raised $173M CAD in equity and debt financing to develop and scale its groundbreaking technology.
Mitigating methane is widely seen as one of the most effective levers for slowing climate impacts and improving air quality. While methane is a highly potent greenhouse gas—over 80 times more powerful than carbon dioxide over a 20-year period—it breaks down quickly in the atmosphere, meaning that reductions can deliver swift and measurable climate benefits in the near term.
Reducing methane is also an economic boon for industrial operators and governments. Capturing methane that would otherwise be lost to the atmosphere directly improves operational efficiency and increases product yields for oil and gas producers. Access to accurate emissions data also strengthens a company’s ability to comply with—and thrive under—increasingly strict international regulations tied to emissions intensity. This increased efficiency creates a competitive edge in today’s rapidly evolving energy sector, critical for domestic energy security goals and the profitability of carbon-intensive industries.
Working hand-in-hand with industry as a trusted partner, GHGSat has supported the mitigation of over 20 MTCO₂E of methane since beginning operations, equivalent to the annual emissions from more than 4.6 million cars.