QLM Technology secures £1m from the South West Investment Fund to scale methane monitoring technology.
The investment forms part of a £3.5m funding round directed by The FSE Group.
QLM Technology develops advanced quantum lidar cameras designed to detect, locate and quantify methane emissions at distance.
Torbay-based QLM Technology has secured £1m in equity funding from the South West Investment Fund, managed by The FSE Group, as part of a £3.5m financing round. The capital will be used to advance product development across software and industrial applications while expanding market reach and channel partnerships. QLM provides quantum lidar technology to monitor methane emissions for operators in sectors such as oil and gas, utilities and waste management.
From the founder
"We’re delighted to receive this investment from The FSE Group and the South West Investment Fund, which will help us accelerate development and expand deployment of our unique lidar-based methane detection systems. Our mission is to give operators the tools to detect and prevent methane emissions quickly, accurately and cost-effectively, helping to reduce one of the most harmful greenhouse gases and make real progress toward global net-zero goals."
Paul Hughes
CEO at QLM Technology
Investor perspective
"QLM has developed a world-class, IP-protected technology backed by a strong management team with deep industry experience. Their solution addresses a clear and growing global need, supported by legislation and increasing environmental accountability. We’re pleased to back a company that is not only commercially strong but also making a meaningful contribution to tackling climate change."
Ralph Singleton
Head of Equity South West, The FSE Group
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
QLM Technology
QLM Technology builds quantum lidar cameras for methane monitoring.