MONTREAL, March 8, 2022 (Newswire.com) - After being the only Quebec Fast Company honoree renowned as a player in the "new space" field in 2021, GHGSat is featured once again on Fast Company's list of the World's Most Innovative Companies for 2022.
Since 2008, Fast Company's Most Innovative Companies has been recognizing organizations that are transforming industries and shaping society. Last year, Fast Company recognized more than 400 organizations with this prestigious honor, including the global leader in high-resolution remote sensing of greenhouse gas from space, GHGSat. This year, GHGSat is featured in the list yet again — among the top-ranked in the Space category.
"GHGSat's technology was designed to solve a unique problem — the measurement of facility-level greenhouse gas emissions, anywhere in the world, routinely and accurately. The technology is here, and the results speak for themselves. We appreciate Fast Company's recognition of our team's relentless efforts to make a difference in the fight against climate change. The ball is now in industry's and governments' court — the time to act is now, and the data to drive action is here today," states Stephane Germain, CEO of GHGSat.
Since its last recognition in 2021 and following the launch of its second commercial satellite "Hugo," GHGSat has known 12 months of growth and innovation. The Montreal-based company now has three active satellites capturing emissions data, with three more scheduled to launch in summer 2022, enabling GHGSat to identify and quantify more methane emissions from more point sources, as small as individual oil and gas wells. In June 2021, the emissions monitoring company launched its industry-leading emissions data portal SPECTRA, which seamlessly integrates GHGSat's unique high-resolution data with customer information for full, actionable insights into emission risk.
GHGSat also announced later in 2021 a ground-breaking emissions research program with oil and gas industry partners, such as Chevron and Shell, to demonstrate the measurements of methane emissions from offshore facilities with the company's satellites. Driven by consumer demand, this research project should show offshore producers that they can confirm their reported emissions through space quickly, safely, and cost-effectively. In fact, the project is expected to achieve a world-first in demonstrating high-resolution satellite-based monitoring of anthropogenic methane (CH4) emissions at sea. GHGSat has earned its place at the forefront of the fight against climate change as a key supplier of reliable data and insights on greenhouse gas emissions.
Finally, the company secured the second tranche of Series B funding last summer in the amount of US$45 million, with strong investor support from Space Capital, OGCI Climate Investments, and Investissement Québec. This investment supports GHGSat in accelerating its growth and will allow it to expand the constellation to a total of 10 satellites by 2023.
The World's Most Innovative Companies is Fast Company's signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
GHGSat uses its own satellites and aircraft sensors to measure greenhouse gas emissions directly from industrial sites, providing actionable insights to businesses, governments, and regulators. With proprietary remote-sensing and patented technology, GHGSat enables strategic decision-making through monitoring and analytics services, with better accuracy, more frequently, and at a fraction of the cost of other technologies. www.ghgsat.com
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Stephanie Mehta. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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