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The DOE has provided up to an $189 million loan guarantee to advance the assembly and installation of LongPath’s active emissions overwatch network.
LongPath Technologies has received a conditional commitment from the Department of Energy (DOE) for an up to $189 million loan guarantee. The financial support aims to accelerate the procurement, assembly, and installation of LongPath’s active emissions overwatch system in United States oil and gas production basins.
The technology offers accurate continuous monitoring and quantification of methane emissions in real-time. The DOE’s loan will support the scaling of LongPath methane detection and quantification technology to include 1,000 large-area remote methane monitors in Texas, Oklahoma, Kansas, Colorado, North Dakota, and New Mexico.
"With our accurate, real-time methane monitoring system, we are not just theorizing solutions, but actively implementing a scalable and effective approach to a pressing environmental challenge,” said Sam Cummings, CFO, LongPath Technologies. “This technology resonates with our nation's commitment to both environmental stewardship and technological leadership. As we scale our network across key basins, we're poised to set a new standard for emissions detection, localization, and quantification. At a time when policy makers are keenly focused on actionable, measurable solutions, LongPath stands as an example of how American ingenuity can drive meaningful progress in methane emissions reduction."
LongPath’s technology has the potential to reduce greenhouse gas (GHG) emissions by approximately 90% compared to current methods, as well as 10x greater detection levels and 2-3x greater accuracy compared to point sensors. The technology was developed in collaboration with the University of Colorado, the National Institutes of Standards and Technology, and the DOE’s Advanced Research Projects Agency.