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QLM Gains $14.5M in Financing, Launches Collaboration with Schlumberger

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CARDIFF, Wales, Aug. 5, 2022 — Lidar imaging company QLM Technology closed a £12 million ($14.5 million) series A financing round and signed a collaboration agreement with Schlumberger, an oilfield services company. QLM’s lidar camera is able to monitor, detect, locate, and quantify greenhouse gas emissions. A related version of the product enables remote quantification. The technology is inherently scalable due to low-cost manufacturing at high volume.
QLM quantum lidar gas imaging camera visualization & quantification of an emission source. Courtesy of QLM Technology.
QLM quantum lidar gas imaging camera visualization and quantification of an emission source. Courtesy of QLM Technology. 
Through the strategic collaboration, QLM’s technology will be part of the Schlumberger End-to-End Emissions Solutions (SEES) business offering for the oil and gas industry. SEES’ methane monitoring offering is based on previous investments in satellite-, airplane-, and drone-mounted sensors, along with additional internally developed sensors.

Beyond emissions monitoring for the oil and gas market, the QLM solution can be used in tracking and reducing methane emissions in biogas production and in coal mines, as well as at landfills and wastewater treatment plants.

In addition to lead investment from Schlumberger, existing investors Green Angel Syndicate, Enterprise100 Syndicate, Development Bank of Wales, Newable Ventures, and several private investors participated in the funding round, as well as new investor Quantum Exponential.
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Published: August 2022
Glossary
lidar
Lidar, short for light detection and ranging, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of objects and surfaces. Lidar systems typically consist of a laser scanner, a GPS receiver, and an inertial measurement unit (IMU), all integrated into a single system. Here is how lidar works: Laser emission: A laser emits laser pulses, often in the form of rapid and repetitive laser...
camera
A light-tight box that receives light from an object or scene and focuses it to form an image on a light-sensitive material or a detector. The camera generally contains a lens of variable aperture and a shutter of variable speed to precisely control the exposure. In an electronic imaging system, the camera does not use chemical means to store the image, but takes advantage of the sensitivity of various detectors to different bands of the electromagnetic spectrum. These sensors are transducers...
quantum
The term quantum refers to the fundamental unit or discrete amount of a physical quantity involved in interactions at the atomic and subatomic scales. It originates from quantum theory, a branch of physics that emerged in the early 20th century to explain phenomena observed on very small scales, where classical physics fails to provide accurate explanations. In the context of quantum theory, several key concepts are associated with the term quantum: Quantum mechanics: This is the branch of...
BusinessImaginglidarcameraquantumfinancingSeries AfundingcollaborationagreementQLM TechnologystartupSchlumbergergas imaginggas monitoringgas detectionmethanegreenhouse gasclimate neutralEurope

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