New York, NY (September 24, 2018) - Kairos Aerospace, an aerial methane detection service startup, announces the closing of its latest funding round with investment from Energy Innovation Capital (EIC) and the Oil and Gas Climate Initiative (OGCI) Climate Investments. With the investment, Kairos will invest further in technology development and increased operational capacity.
To date, Kairos has surveyed over 4 million acres of oil and gas infrastructure in the US and Canada using its LeakSurveyorTM, an aerial methane imagery data platform. LeakSurveyorTM is an efficient approach to leak detection, providing accurate, timely, and actionable information to oil and gas industry customers.
“Our relationship with OGCI Climate Investments brings access to thirteen of the world’s largest oil and gas companies. We’re excited for the opportunity to help the OGCI companies meet their goal of reducing methane emissions while continuing to produce vital energy,” says Steve Deiker, CEO of Kairos Aerospace. “Using aircraft-based methane detection will allow companies to revolutionize their approaches to fugitive emissions monitoring. By rapidly surveying fields and deploying repair crews, industry can improve their field performance and increase gas capture rates. Cost-effective methane emission reductions are now within reach.”
This week, Kairos announced plans to collect LeakSurveyorTM aerial methane imagery over the entire New Mexican portion of Permian Basin. Once complete, it will be the largest commercially-available source of methane data exclusively available to the oil and gas industry.
EIC represents one of the most experienced and proven group of investors in energy innovation. They have been directly involved as investors, entrepreneurs and advisors with hundreds of energy technology companies, including GE, ConocoPhillips, Energy Technology Ventures and Chevron.
“We couldn’t ask for better partners than OGCI Climate Investments and EIC,” says Steve Deiker. “Their financial support, business development assistance, and strategic guidance gives Kairos the opportunity to grow and evolve in the rapidly changing field of methane abatement.”
About Kairos Aerospace
Kairos Aerospace provides aerial solutions to oil and gas industry clients and stakeholders to better understand emissions and operational efficiency. Using the latest aircraft-based gas spectroscopy, thermal infrared, and optical imaging technology, Kairos’ proprietary data pipeline analyzes and identifies actionable opportunities for our customers to reduce emissions and improve field performance. To date, Kairos has surveyed over 4 million acres of oil and gas infrastructure in the United States and Canada.
About OGCI Climate Investments
OGCI Climate Investments LLP is a billion-dollar investment fund focused on initiating practical actions to deliver solutions for a sustainable, low-emissions future. The fund invests in technologies that have the potential to significantly reduce greenhouse gas emissions, are economically viable, ready to be commercialized, and deployed at scale. It was launched in November 2016 by the Oil and Gas Climate Initiative, a voluntary initiative led by CEOs of 13 global oil and gas companies. For more information, please visit www.oilandgasclimateinitiative.com.
About Energy Innovation Capital
Energy Innovation Capital is the premier capital provider to energy innovators. EIC is building a platform for entrepreneurs to drive Silicon Valley innovation in the global oil, gas and energy industries. www.energyinnovationcapital.com
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