Monthly Archives: April 2013

GHGSAT SIGNS INVESTMENT AGREEMENT WITH BOEING

Montreal, Quebec, April 10, 2013 – Today, Montreal-based GHGSat announced it has signed an agreement with The Boeing Company [NYSE: BA] in which Boeing will make a contribution to help launch GHGSat’s first satellite capable of monitoring greenhouse gas and air quality gas emissions from any industrial site in the world.
Industrial facilities worldwide are increasingly subject to emissions caps, both for greenhouse gases and atmospheric pollutants. GHGSat will provide a satellite-based remote sensing solution, designed to monitor individual industrial facilities in regulated industries including oil & gas, power generation, mining and waste management. The ability to precisely and repeatedly measure total emissions from a point source (such as a stack), or area source (such as a tailings pond or a mine face) will enable accuracies comparable to in-situ monitoring solutions at a cost comparable to indirect estimation processes.

“We are very grateful for the confidence that Boeing has shown in our company,” said Stéphane Germain, President of GHGSat. “GHGSat is bringing technological innovation in the aerospace industry to the fight against climate change and air pollution. Boeing’s support will help GHGSat to launch a world-class system, and ultimately deliver a unique and valuable service.”
“Boeing’s contribution to GHGSat reinforces our commitment to innovation in small businesses in Canada and around the world,” said Brian Beyrouty, Canada country manager, International Strategic Partnerships. “We look forward to working with GHGSat to make this satellite, and their business, a success.”

This contribution will support fulfillment of Boeing’s commitment to Canada’s Industrial & Regional Benefits (IRB) policy. Canada’s IRB policy requires prime contractors, such as Boeing, to make investments in the Canadian economy as a result of winning defense and security contracts with the government of Canada. Boeing has four active IRB programs tied to the procurement of the CC-177 airlifter; ScanEagle unmanned aircraft system, CH-147 helicopter, and the Mercury Global program. Through these programs, Boeing continues a history of more than 90 years of creating long-term, high-value opportunities with Canadian industry.

“This is an exciting announcement for GHGSat and a strong vote of confidence for them from a leading global corporation, Boeing, that is known for innovation” said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). “This technology could be the key to efficient monitoring of industrial emissions as businesses work to reduce their environmental impact. SDTC continues to work actively to foster relationships between promising Canadian cleantech companies and the global aerospace, defense, and security (ADS) industry. This announcement is yet another exciting example of leveraging the ADS sector to the benefit of Canadians.”

About GHGSat
GHGSat’s mission is to become the global reference for remote sensing of greenhouse gas (GHG) and air quality gas emissions from industrial sites, using satellite technology.
GHGSat’s novel technology will enable GHG and air quality gas measurement with better accuracy at a fraction of the cost of comparable alternatives. Owners of industrial facilities will be able to monitor all of their facilities, local or remote, anywhere in the world, with a common technology, in near-real-time. Significantly improved emissions information will enable industries to better measure, control, and ultimately reduce emissions of GHGs and air quality gases.
GHGSat is supported by Sustainable Development Technology Canada and the Government of Canada.

About Boeing
A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world’s largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world’s largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $33 billion business with 59,000 employees worldwide. Follow us on Twitter: @BoeingDefense.

About SDTC
On behalf of the Government of Canada, Sustainable Development Technology Canada helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is positioning cleantech as a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC works with the private sector, the financial sector and all levels of government to meet the Government of Canada’s commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation.

For more information, please contact:
Stéphane Germain
GHGSat Inc.
Tel: 514-847-9474 x205
stephane.germain@ghgsat.com

Jaimié Cardé
Boeing Defense, Space & Security
Office: +1 314-232-3366
Mobile: +1 314-724-8168
jaimie.m.carde@boeing.com