QLM Technology have signed a collaboration agreement with SLB (formally known as Schlumberger), one of the world’s largest oil and gas services companies, who provided lead investment in a £12m round of Series A funding. Existing investors in the technology, such as Green Angel Syndicate, Enterprise 100 Syndicate, Development Bank of Wales and Newable Ventures, also joined in this round of funding.
QLM’s gas-imaging sensor will be part of the new SLB End-to-end Emissions Solutions (SEES) business offering for the oil and gas industry, complementing existing satellite, aeroplane, and drone-mounted sensors offered by SEES. QLM Technology are creating jobs and expanding their operations for manufacturing in Cardiff and Paignton, UK, and have established a site near San Francisco, USA, to support international sales and operations. Through a series of new funding agreements with SMEs and start-ups in the UK, QLM is also establishing a supply chain to help support the development of its ground-breaking product.
“Working with CSA Catapult on the SPLICE project has provided us with a good understanding of, and confidence in, the critical compound semiconductor laser and detector components that underpin our quantum gas LiDAR camera. Making these components in the UK is the next step in our development and we are working with CSA Catapult to enable that.”
Murray Reed, CEO QLM Technology
