News Article

Project Canary Acquires Troposphere Monitoring
Date: Dec 09, 2020
Source: GlobeNewswire ( click here to go to the source)

Featured firm in this article: Troposphere Monitoring Inc of Austin, TX

The acquisition strengthens Project Canary's ESG trusted data solutions for the global energy industry
Troposphere scientists join the team in key leadership roles, further enhancing Project Canary's technology advantage

DENVER and DALLAS and AUSTIN, Texas and HOUSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Project Canary, an International Environmental Standards company and the leading provider of environmental solutions for the global energy industry, today announced it has acquired Austin-Based Troposphere Monitoring, Inc. Troposphere is a leader in hydrocarbon emissions sensor technology. This is the second acquisition Project Canary has completed in the past six months.

"Measuring emissions in real-time at well sites and facilities is not only technically possible, but it is also scientifically accurate and affordable," said Anna Scott, Ph.D., CEO at Troposphere. "Our innovative sensor technology offers companies at all phases of the energy supply chain a cost-effective method for continuously monitoring methane and other hydrocarbons. We're excited to join the Project Canary team, as their wide operational footprint is the ideal platform for expanding the deployment of our proprietary methane sensing technology."

Troposphere Monitoring's sensor technology distinguishes between different gases, like propane, ethane, or butane, so permitted emissions look different than leaks to the monitoring system. Using advanced infrared spectroscopy technology, Troposphere sensors located at the fence line of a well site or facility can detect and identify quantities of methane, hydrocarbons and other byproduct gases at the ppb level of precision. The data is continually uploaded to Project Canary's secure, cloud-based data platform for real-time alerts and ESG analytics.

"Project Canary's latest acquisition demonstrates its evolution in the field of emissions monitoring and data," said Dr. Morgan Bazilian Ph.D., Director of the Payne Institute and Professor of public policy at the Colorado School of Mines. "The addition of the new science team will help extend the company's expertise. I am excited to watch their progress."

"Troposphere's technology strengthens our already best-in-class trusted data-driven ESG solution, which includes trusted independent data for environmental reporting and the marquee TrustWell™ certification of responsible operations," said Project Canary CEO Chris Romer. "This acquisition will allow us to quickly ramp-up to meet growing demand from industry and increase the ROI our customers generate from our environmental reporting and performance solutions."

"Additionally, I am thrilled to welcome the Troposphere team of scientists to Project Canary," continued Romer. "They complement our existing team with their deep technical understanding of environmental issues, including monitoring of hydrocarbon emissions and water quality."

Dr. Scott joins Project Canary as President and is a member of the Board of Directors. Dr. Scott is a mathematician, data, and atmospheric scientist who has built environmental sensor networks around the world. She received her Ph.D. from Johns Hopkins University.

Chris Kelley, Ph.D. joins Project Canary as Vice President of Engineering. Dr. Kelley is an environmental engineer who designed the world's most downloaded water quality monitor. He received his Ph.D. from Johns Hopkins University.

Yon Azdoud, Ph.D. joins Project Canary as Chief Scientist. Dr. Azdoud is a mechanical engineer and a graduate of Ecole Normale Superieure, France. He is an expert in materials simulation, hardware and design.

About Project Canary
Project Canary, an International Environmental Standards company based in Denver, Colorado, is a mission-driven B-Corporation accountable to a double bottom line of profit and the social good. We believe it is possible to create a financially successful, self-sustaining business that "does well and does good." Our goal is to mitigate climate change by helping the oil and gas industry operate on a cleaner, more efficient, more sustainable basis. Our proven solutions provide real-time emissions monitoring and rigorous independent certification of oil and gas well sites for responsible operations.

Project Canary / IES solutions help energy companies Collect, Manage, Operationalize and Benefit from real-time environmental data.

Project Canary partners with the Colorado School of Mines Payne Institute to develop a collaborative environment for oil and gas companies and external parties to share best practices and insights garnered through continuous monitoring,

About Troposphere Monitoring
Troposphere Monitoring, Inc. was founded in 2018 by a trio of scientists who met while working and studying at Johns Hopkins University. The company began field testing their methane-sensing solution in fall 2019.

Project Canary
Chris Romer
Co-Founder and CEO

SOURCE: Project Canary, an International Environmental Standards company