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QLM Gains $14.5M in Financing, Launches Collaboration with Schlumberger

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CARDIFF, Wales, Aug. 5, 2022 — Lidar imaging company QLM Technology closed a £12 million ($14.5 million) series A financing round and signed a collaboration agreement with Schlumberger, an oilfield services company. QLM’s lidar camera is able to monitor, detect, locate, and quantify greenhouse gas emissions. A related version of the product enables remote quantification. The technology is inherently scalable due to low-cost manufacturing at high volume.
QLM quantum lidar gas imaging camera visualization & quantification of an emission source. Courtesy of QLM Technology.
QLM quantum lidar gas imaging camera visualization and quantification of an emission source. Courtesy of QLM Technology. 
Through the strategic collaboration, QLM’s technology will be part of the Schlumberger End-to-End Emissions Solutions (SEES) business offering for the oil and gas industry. SEES’ methane monitoring offering is based on previous investments in satellite-, airplane-, and drone-mounted sensors, along with additional internally developed sensors.

Beyond emissions monitoring for the oil and gas market, the QLM solution can be used in tracking and reducing methane emissions in biogas production and in coal mines, as well as at landfills and wastewater treatment plants.

In addition to lead investment from Schlumberger, existing investors Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures, and several private investors participated in the funding round, as well as new investor Quantum Exponential.

Photonics.com
Aug 2022
GLOSSARY
lidar
An acronym of light detection and ranging, describing systems that use a light beam in place of conventional microwave beams for atmospheric monitoring, tracking and detection functions. Ladar, an acronym of laser detection and ranging, uses laser light for detection of speed, altitude, direction and range; it is often called laser radar.
camera
A light-tight box that receives light from an object or scene and focuses it to form an image on a light-sensitive material or a detector. The camera generally contains a lens of variable aperture and a shutter of variable speed to precisely control the exposure. In an electronic imaging system, the camera does not use chemical means to store the image, but takes advantage of the sensitivity of various detectors to different bands of the electromagnetic spectrum. These sensors are transducers...
quantum
Smallest amount into which the energy of a wave can be divided. The quantum is proportional to the frequency of the wave. See photon.
BusinessimaginglidarcameraquantumfinancingSeries AfundingcollaborationagreementQLM TechnologystartupSchlumbergergas imaginggas monitoringgas detectionmethanegreenhouse gasclimate neutralEurope

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