UK-based QLM, a startup developing quantum optical sensors, announced on Thursday that it raised £12M (approximately €14.24M) in a Series A round of funding. The round was led by Schlumberger, a technology company that partners with customers to ‘create industry-changing technologies that unlock cleaner, safer access to energy for every community.
The round also saw participation from existing investors Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures, and several private investors. New investor Quantum Exponential also joined the round.
Collaboration with Schlumberger
QLM has also signed a collaboration agreement with Schlumberger to advance the detection of greenhouse gas emissions.
With the help of Innovate UK, QLM has created a new type of LiDAR camera based on quantum technology that can not only see but accurately quantify greenhouse gas emissions.
The gas imager helps customers to monitor, detect, precisely locate, and quantify Greenhouse Gas (GHG) emission sources for quick repair. A related product version allows for the remote measurement of flare effectiveness. The global deployment of QLM’s LiDAR technology is made possible by its inherent scalability to low cost at high volume.
Murray Reed, CEO of QLM, says, “The technology is unique in the emissions monitoring marketplace in its potential to achieve the greatest amount of GHG abatement at the lowest cost of ownership. The funding will allow us to scale our manufacturing, enabling significant cost reduction, as we launch our solution into the various GHG-intensive industries and markets.”
How will Schlumberger support QLM?
The strategic collaboration will help QLM technology to become a part of the new Schlumberger End-to-end Emissions Solutions (SEES) business offering for the oil and gas industry.
According to a statement, the methane monitoring service offered by SEES is based on prior investments in sensors deployed on satellites, aircraft, and drones, as well as on extra sensors created internally.
When continuous monitoring is necessary, QLM’s LiDAR technology provides precise and sensitive measurements as a complement to conventional mobile monitors. For flares that can’t yet be eradicated, the ability to measure flare efficiency will guarantee optimal performance.
Kahina Abdeli-Galinier, Emissions Business Director at Schlumberger, says, “SEES selects partners following rigorous technical evaluation to identify innovative technology that complements our existing measurement solutions. The QLM LiDAR technology will allow operators to monitor their facilities for methane emissions continuously, and the technology is differentiated in its ability to detect even small emissions; to quantify emission rates accurately; to provide actionable information by locating the emission source precisely; and to fit upstream, midstream, and downstream facilities of all sizes.”
Brief about QLM Technology
Founded in 2017 with support from Bristol University’s Quantum Technology Enterprise Centre, QLM is a photonics technology and analytics company with headquarters in Cardiff and operations in Bristol and San Francisco.
The company has developed a new type of gas imaging camera that combines LiDAR and gas absorption spectroscopy with single-photon detection. This imaging technology can detect, visualise, localise, and accurately quantify emission rates of greenhouse gases (GHGs).
The solution helps customers in GHG-intensive industries to identify and prioritise the consequential emitters for remediation in a cost-effective manner.