NevadaNano today announced Jiangsu Hoperun Software Co Ltd (300339.SZ), a public Chinese company, has invested in NevadaNano‘s existing Series B offering through its US subsidiary HopeRun Technology Corp. The two companies will join forces in designing, producing and marketing an end-to-end sensor and IoT solution for detecting and reporting methane leaks for oil and gas exploration, production, and transport. The product will go to market in Q3 2019 and is projected to be the most cost-effective IoT solution for detecting, and ultimately reducing, methane emissions.
Methane is a greenhouse gas 84 times more potent than carbon dioxide; methane emissions account for approximately 25 percent of manmade global warming. Methane from the fossil fuel industry is one of the largest sources of human-sourced methane, and leaks during the production and transport of natural gas are a significant source of unintended methane releases.
NevadaNano and HopeRun are uniting forces to develop an effective end-to-end methane-leak detection system. The system includes NevadaNano’s Molecular Property Spectrometer (MPSTM) Flammable Gas sensor integrated into modules that provide wireless connectivity to a broadly capable IoT framework developed by HopeRun. The new system will enable ubiquitous monitoring for methane gas leaks across the full spectrum of natural gas production and transport facilities.
“HopeRun is an outstanding company to partner with,” said Ralph Whitten, NevadaNano’s president. “Our MPS Flammable Gas sensors bring a new level of reliability for leak detection and HopeRun’s expertise in high availability IoT systems will enable us to deliver cost effective leak detection where no comparable solutions currently exist,” Whitten said. “Detecting methane leaks and then quickly stopping the leaks is a priority for the oil and gas industry, and for the world,” he added.
“We are excited to invest and partner with NanoTech,” said Michael Liu, CEO of HopeRun Technology Corp, based in the company’s Burlington, Mass. office. “Together, NanoTech and HopeRun will provide full IoT solutions to build an easier way to monitor, collect, and process the accurate, reliable field sensor data efficiently to our targeted global oil and gas customers.”
NevadaNano is the developer of the Molecular Property Spectrometer gas-sensing products that use Lab-on-a-chip chemical analysis structures to detect, identify, and quantify chemicals in the air. MPS gas sensors bring Digital Scent to the Internet and provide information about the air we breathe to ensure safer workplaces, healthier homes, and a better environment.