SeekOps Announces Closing of $14M Series B Financing

AUSTIN, Texas–(BUSINESS WIRE)–SeekOps Inc., a Texas-based technology company, announced the closing of its Series B funding. SeekOps provides best-in-class sensors and actionable analytics to support both traditional and renewable energy sectors in their decarbonization efforts, delivering reliable, timely and accurate methane Leak Detection and Quantification (LDAQTM), facilitating increased ESG reporting transparency, and enabling verification for Responsibly Sourced Gas certification standards.

“The transparency created by accurate methods for detection, localisation, and quantification is essential to reducing emissions.”

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The funding round was led by Schlumberger, with the support of existing investors Equinor Ventures and OGCI Climate Investments (OGCI CI), and new investor Caterpillar Venture Capital Inc. (CVCI).

Iain Cooper, SeekOps CEO said, “The funding and strategic alignment with our new investors, Schlumberger and CVCI, and the continued backing of our initial investors, Equinor and OGCI CI, enables us to not only assist our investors in their decarbonization initiatives, but with their support, scale our services onshore and offshore directly with customers via our global drone service partners, and enable the energy industry to cost-effectively assess its progress to net-zero.”

“Reducing greenhouse gas emissions, and methane in particular, is an imperative for our industry. It demands solutions that deliver more precise methods of emissions detection and measurement,” said Kahina Abdeli-Galinier, Emissions Management Business Director, Schlumberger. “Our participation in SeekOps will accelerate the deployment of sensitive and accurate measurement techniques.”

“We are pleased to support SeekOps’ unique offering that can measure emissions from both onshore and offshore operations,” said Pratima Rangarajan, CEO of OGCI Climate Investments. “The transparency created by accurate methods for detection, localisation, and quantification is essential to reducing emissions.”

Equinor, a member company of OGCI CI, has been an early adopter of SeekOps technology since 2017. “Equinor is excited about the company’s expansion and continues to support its growth. We have been very pleased by their recent offshore quantification surveys for us in the North Sea,” said Gareth Burns, Vice President of Equinor Ventures.

About SeekOps

SeekOps globally deploys its industry-leading sensor technology with enterprise-grade drones to provide field-proven measurement systems for methane Leak Detection and Quantification (LDAQTM), through repeatable, consistent and cost-effective automated workflows. For more information, please visit www.seekops.com

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

About Caterpillar Ventures

Caterpillar Venture Capital Inc. assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar’s industry expertise, supply base and independent dealer network. Caterpillar Venture Capital’s focus areas of investment include robotics, energy, advanced materials, and digital solutions that help its customers be successful. Caterpillar Venture Capital is a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit https://www.caterpillar.com/ventures.

About OGCI Climate Investments

OGCI Climate Investments LLP is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains. The Fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. We invest in innovative companies that are ready to be commercialized. We collaborate with global co-investors and industrials to achieve speed and scale. For more information, please visit: www.oilandgasclimateinitiative.com

About Equinor Ventures

Equinor Ventures supports small and medium enterprises (SMEs) with exciting new technologies in oil and energy – and in turn, helping Equinor be the world’s most carbon-efficient oil and gas producer with a developing renewable business. For more information, please visit: https://www.equinor.com/en/what-we-do/equinor-ventures.html

Contacts

SeekOps Inc.
Paul Khuri
VP Business Development
Email: pkhuri@seekops.com
Phone: +1 713.962.6146
www.seekops.com

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