Bridger Photonics, Inc., a Bozeman, MT-based provider of aerial methane detection, localization, and quantification across the natural gas value chain, raised $55m in funding.
A Montana-based syndicate, Beaverhead Partners LLC, has invested $55 million in the company to support its growth. The syndicate is composed of Bozeman-based Madison Valley Partners, sustainability and climate action focused Carica Sustainable Investments, and Bozeman-based Next Frontier Capital. Beaverhead Partners LLC, has invested $55 million in the company to support its growth.
Led by CEO Pete Roos, Bridger developed Gas Mapping LiDAR™, a methane detection technology for the oil and gas industry to detect and manage emissions. Bridger mounts its laser sensors on small aircraft, scans oil and gas infrastructure, and provides gas plume images, GPS coordinates, and accurate quantification of methane leaks across the entire natural gas value chain. This information is used by energy companies to efficiently reduce their methane emissions. While Bridger’s team and manufacturing are based in Bozeman, it scans for emissions throughout all major oil and gas production basins in North America. Bridger also scans natural gas transmission pipelines and distribution service networks for utility companies. Major clients include ExxonMobil, Southern California Gas Company, Diversified Energy, Devon Energy, Cenovus Energy, Chesapeake Energy, and many others who use the company to detect methane emissions so they can lower greenhouse gas emissions and meet sustainability goals.
FinSMEs
02/09/2022