‘We are investing in companies that help us with our net-zero ambition aims…’
BP Ventures has made an equity investment of £3 million in Flylogix, a business using unmanned aerial vehicles (UAV) to measure offshore methane emissions. The investment is part of a funding round led by Amati Global Investors, totalling £6 million.
BP said that the investment supports its plan to install methane measurement on all existing major oil and gas processing sites by 2023, and deliver a 50% reduction in methane output across its operations. Flylogix has been working with BP since 2018 monitoring assets in the UK North Sea.
The UAV takes measurements that verify emissions, helping to validate the accurate reporting of emissions data. The vehicle manages itself autonomously, with onshore oversight, and can get within 250 meters of offshore installations with data then live streamed via sensors on the vehicles wingtip. BP added that the sensor technology was originally designed by NASA for the Mars Curiosity Rover. BP said this method of methane monitoring supports it, and the wider industry, in efforts to monitor and reduce emissions from operations without the need for additional people offshore.
David Hayes, Managing Partner BP Ventures said; ‘We are investing in companies that help us with our net-zero ambition aims. Flylogix has been instrumental in how we undertake measurements of methane emissions in the North Sea.’
Flylogix combines its UAV with artificial intelligence, satellite communication and methane sensor technology, from partner SeekOps, to monitor and measure methane in some the world’s most remote locations. Flylogix added that the new investment would be used to expand into new regions including the US, Norway and Trinidad & Tobago. The company is also planning to cross over into biodiversity and renewable energy sectors.