Methane detecting drone company Flylogix has received a £3m equity investment from BP Ventures, the investment firm from British oil and gas company BP.
The cash injection from BP is the latest part of Flylogix’s current funding round, led by Amati Global, which has now reached a total of £6m.
The new funding will be used by Flylogix to expand internationally. The company is seeking to provide its service to the US, Norway and Trinidad & Tobago.
Flylogix combines unmanned aerial vehicles (UAVs) with artificial intelligence to aid the detection of methane.
The drones, which are operated partially autonomously, with oversight from a pilot on the shore, fly next to installations. This allows Flylogix to live stream data collected from the sites, using technology originally designed by NASA for the Mars Curiosity Rover.
The Hampshire-based company has been working with BP since 2018, which has been using the UAVs to monitor BP’s assets to detect and reduce emissions.
BP has been looking to install methane measurement systems on all existing major oil and gas processing sites by 2023, as well as reduce its methane intensity by 50%.
“This latest investment will help Flylogix bring our proven UAV technology to new regions and develop applications to realise the potential of unmanned aerial vehicles,” said Flylogix CEO Charles Tavner.
“It is a significant moment for the business. We see an endorsement from bp as a vote of confidence and are proud to build on our existing partnership, in pursuit of net zero.”
David Hayes, managing partner of BP Ventures said: “We are investing in companies that can help us with our net-zero ambition and aims. And Flylogix has been instrumental in how we undertake measurements of methane emissions in the North Sea”.
Flylogix also currently holds the UK record for longest commercial drone flight.
BP Ventures has invested nearly $800m in technology companies since BP launched the fund 10 years ago. Its investments include German electric vehicle fintech company Ryd and British energy monitoring company Voltware.
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