Montreal, July 14, 2020. GHGSat is proud to announce that we have been named a BloombergNEF (BNEF) 2020 Pioneer, a competition that recognizes game-changing companies for their leadership in transformative technologies.
GHGSat is the first space company to win the award and one of just ten companies worldwide to have been awarded the 2020 BNEF Pioneer. Now in its eleventh year, the BNEF Pioneers competition has expanded its traditional focus from companies developing cutting-edge renewable energy products and services, to companies that are leading the transition to a low-carbon economy through a broader set of approaches.
In 2016, GHGSat revolutionized the monitoring of greenhouse gases from space with the launch of a technology demonstrator, Claire. Generating imagery with resolution 100 times higher than any comparable system, Claire enabled measurement of greenhouse gas emissions (carbon dioxide and methane) from specific sources, such as oil and gas fields, coal mines, hydroelectric power stations and landfills, to be detected from orbit for the first time. By significantly improving the quality of emissions data, industries are better able to measure, control and ultimately reduce their greenhouse gas emissions. Iris, their second satellite is due to launch in August and within the next two years she will become part of a constellation of 10 satellites.
With assistance from BloombergNEF (BNEF) staff, an independent panel of industry experts evaluated candidates against three criteria: the potential to scale the opportunity; the level of innovation of the technology or business model and the novelty each company brings to the market; and momentum as demonstrated by strong commercial development.
Stephane Germain, CEO, GHGSat, commented: “GHGSat is honored to have been named as a 2020 BNEF Pioneer. We are in orbit now, providing global transparency on greenhouse gas emissions in near real time. BNEF’s recognition reinforces the value of our work for customers, partners and team members.”
Michael Wilshire, Selection Committee Chair and Head of Strategy at BloombergNEF, commented: “This year’s BNEF Pioneers are addressing a diverse range of challenges faced by businesses and society. We are seeing continued strong innovation in the use of digital hardware and software technologies, advanced materials, storage, satellites, and recycling that will make our energy, transport and manufacturing industries cleaner, and more flexible and efficient.
“We were delighted to receive a large number of high-quality candidates for this year’s BNEF Pioneers program, from which these ten winners were chosen.”
Read more about the competition winners here.