Technology

bp ventures introduces £3m cash injection into unmanned aircraft and methane technology company Flylogix

bp Ventures has made a £3m equity investment in Flylogix – a pioneering unmanned aerial vehicle (UAV) company using drones to support methane detection.

The cash injection is part of a round of financing led by Amati Global Investors, totaling £6 million. Flylogix combines its UAV with artificial intelligenceSatellite communications and methane sensor technology from partner SeekOps to monitor and measure methane in some of the most remote and unforgiving places on earth.

Flylogix, which holds the UK record for longest commercial drone flight, has been working with bp to monitor assets in the UK North Sea since 2018. Its unmanned aircraft perform measurements that verify emissions safely, reliably and consistently, and help validate the accurate reporting of emissions data.

The investment supports bp’s Goal 4 of installing methane measurements at all existing major oil and gas processing sites by 2023 and achieving a 50 percent reduction in methane intensity at all operations.

David Hayes, Managing Partner of bp ventures said:We invest in companies that can support us in our Net Zero ambitions and goals. And Flylogix has been instrumental in how we measure methane emissions in the North Sea. Accurate emission measurements are the basis for mitigation plans – we look forward to continuing our partnership with Flylogix as we expand into new regions.

During the flight, the Aircraft manages itself autonomously with pilot supervision from shore. It can Fly up to 250m away from installations. Flylogix then streams the data from a SeekOps sensor on the wing tip to the support crew on land – the sensor technology was originally designed by NASA for the Mars Curiosity Rover.

This technique provides bp and other operators with accurate and quantifiable emission data that can improve the assessment and compilation of that data.

This method of methane monitoring supports bp and the industry as a whole in their efforts to monitor and reduce emissions from their operations without the need for additional offshore personnel and the associated costs and CO2 emissions.

Flylogix UAV

Charles Tavner, CEO of Flylogix said:This latest investment will help Flylogix bring our proven UAV technology to new regions and develop applications to realize the potential of unmanned aerial vehicles. It is a significant moment for the company. We see bp’s support as a vote of confidence and are proud to build on our existing partnership to reach net zero.

Flylogix will use the funding round to expand into new geographies including the US, Norway and Trinidad & Tobago. It will also cross over into the biodiversity and renewable energy industries, conducting wind turbine blade inspections for offshore sites.

bp ventures plays a key role in helping bp reinvent itself as an integrated energy company. It invests in a portfolio of high-growth technology companies that will advance and expand bp’s core business and create opportunities in digital neighborhoods. It also invests in companies that can help bp reduce carbon emissions in its operations and production.

https://techround.co.uk/tech/bp-ventures-makes-3-million-cash-injection-in-unmanned-aviation-and-methane-tech-firm-flylogix/?utm_source=rss&utm_medium=rss&utm_campaign=bp-ventures-makes-3-million-cash-injection-in-unmanned-aviation-and-methane-tech-firm-flylogix bp ventures introduces £3m cash injection into unmanned aircraft and methane technology company Flylogix

Fry Electronics Team

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