BP Ventures has announced an investment of $5m in cloud-based geospatial analytics software company Satelytics.
Satelytics in engaged in monitor environmental changes, including methane emissions, using advanced spectral imagery and machine learning.
The investment will allow the company to develop its technology further and scale its applications throughout the oil and gas sector.
On the other, the technology usage has the potential to be part of bp’s aim to install methane measurement at all major oil and gas processing sites by 2023.
Satelytics chief executive Sean Donegan 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.”
Satelytics collects high resolution spectral imagery from the planet’s surface
Using satellites, drones, and planes, Satelytics collects high resolution spectral imagery from the planet’s surface.
The company’s technology combines the collected images with proprietary algorithms to create unique electromagnetic signatures that can be used to detect environmental changes, including releases or leaks.
By visualizing the data sets on interactive displays, the company’s software give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.
BP digital science and engineering senior vice president 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.”