GHGSat Raises $10Mln US in Series A2 Financing; Gains Access to Worlds Largest Oil and Gas Customers
By Chuck Black According to Montreal PQ based GHGSat CEO Stéphane Germain, the most important takeaway from the recent announcement that his firm had raised US$10Mln US ($13Mln CDN) in Series A2 financing in a deal led by the London UK based OGCI Climate Investments , was to note that it provided " access to the world's largest grouping of oil and gas companies interested in the transition to a lower carbon future ." Germain spoke with this blog earlier in the week. OGCI is the billion dollar investment arm of the Oil and Gas Climate Initiative (OGCI) a voluntary, CEO-led initiative composed of approximately a dozen of the world's top oil and gas companies. OGCI was " created to pool knowledge and collaborate on action to reduce greenhouse gas emissions " according to the OGCI website. The latest funding also included financial backing from Houston TX based Schlumberger (the world's largest oilfield services company), the New Y...