Dealflow | February 20, 2024

Kairos Aerospace scores $52 million to help oil and gas companies reduce methane leaks

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, February 20 — Restricting leaks of methane, a greenhouse 80 times more potent than CO2, was a key focus at the COP28 climate summit in Dubai last year (for background, see, “The case for climate optimism”).

The US Environmental Protection Agency in December released rules to prevent an estimated 58 million tons of methane from being released over the next decade and a half.

Sunnyvale, Calif.-based Kairos, which uses small aircrafts and sensors to collect data and pinpoint large methane leaks aerially, is working with the EPA to get certified and meet the anticipated demand. The rules call for a phase out of methane flaring, reductions in methane emissions, and emissions monitoring using EPA-approved technology; laggards will be fined. 

Methane management

Kairos will rebrand as Insight M to reflect its focus on helping oil and gas companies manage their methane emissions. Zachary Bogue of DCVC, which backed the Series D round, cited “exploding demand” for methane detection and management. Funds managed by BlackRock, Hartree Partners, Climate Investment and Energy Innovation Capital also participated.