# GHGSat

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ghgsat

- Industry: Environmental Services
- Headquarters: Montreal, Canada
- Website: www.ghgsat.com
- Total disclosed funding: $129M
- Latest round: Series C (Sep 7, 2023)
- Investors on record: 12

## About

Based in Montreal, Québec, Canada, GHGSat Inc. develops advanced satellite technology for remote monitoring of greenhouse gas emissions, catering to various industries to enhance environmental accountability and compliance. Founded in 2011 in Montreal, Canada, GHGSat Inc. specializes in satellite-based monitoring of greenhouse gas emissions. In September 2025, GHGSat Inc. raised CAD 47 million in venture debt funding co-led by new investor National Bank of Canada and Yaletown Partners with participation from another new investor Export Development Canada. Returning investor Fonds de solidarite FTQ and BDC Capital also participated in the round. The company will use the funding to support the further development of its satellite technology and analytics services and expansion plans initiatives. The founder's details are not specified.GHGSat provides state-of-the-art greenhouse gas emissions monitoring services through a constellation of 12 high-resolution satellites. Their core offerings include DATA.SAT and DATA.AIR, which deliver precise emission intelligence, enabling clients in industries such as oil and gas, coal mining, waste management, and agriculture to monitor and manage their emissions effectively. The technology empowers governments and carbon-intensive industries to achieve their environmental goals with actionable insights that facilitate informed decision-making regarding emissions reduction. The satellite systems are capable of detecting emissions sources that are 100 times smaller than those identifiable by traditional satellites and attributing these emissions with 100 times greater precision. Their products serve a global client base, including regulatory bodies and private enterprises in regions such as North America, Europe, and parts of Asia, where stringent emissions regulations are increasingly being enforced.GHGSat generates revenue through a business-to-business model, primarily offering subscription services for their emissions monitoring solutions. Clients engage in partnerships that provide access to the company’s high-resolution satellite data and analytics, which are crucial for ongoing emissions assessment and reporting. The company’s flagship product, SPECTRA, is a data analytics service that facilitates organizations in their emission management strategies by providing comprehensive insights derived from satellite imagery and third-party data. Pricing structures for these services typically reflect the scale and complexity of emissions monitoring required by the client, tailored to meet diverse needs across various sectors. Through these transactions, GHGSat not only supports regulatory compliance but also enhances operational efficiencies for its customers. In September 2025, GHGSat Inc. raised CAD 47 million in venture debt funding co-led by new investor National Bank of Canada and Yaletown Partners with participation from another new investor Export Development Canada. Returning investor Fonds de solidarite FTQ and BDC Capital also participated in the round. The company will use the funding to support the further development of its satellite technology and analytics services and expansion plans initiatives.

## Funding rounds

- Series C, Sep 7, 2023, $44M — BDC Capital, Investment Quebec, Bank of Montreal, Fonds de solidarite FTQ, Climate Investment, Japan Energy Capital
- Series B, Jul 15, 2021, $45M — Investment Quebec, Oil and Gas Climate Initiative, Space Capital
- Series B, Sep 10, 2020, $30M — Fonds de Solidarité des Travailleurs du Québec, Investment Quebec, SLB, Business Development Bank of Canada, Space Angels, Oil and Gas Climate Initiative
- Series A, Sep 24, 2018, $10M — SLB, Business Development Bank of Canada, Space Angels, Oil and Gas Climate Initiative

## Investors

- SLB — Series A, Series B
- Business Development Bank of Canada — Series A, Series B
- Space Angels (https://capitalatlas.ai/funds/space-angels) — Series A, Series B
- Oil and Gas Climate Initiative — Series A, Series B
- Fonds de Solidarité des Travailleurs du Québec — Series B
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series B, Series C
- Space Capital (https://capitalatlas.ai/funds/space-capital) — Series B
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series C
- Bank of Montreal — Series C
- Fonds de solidarite FTQ (https://capitalatlas.ai/funds/fonds-de-solidarite-ftq) — Series C
- Climate Investment (https://capitalatlas.ai/funds/climate-investment) — Series C
- Japan Energy Capital (https://capitalatlas.ai/funds/japan-energy-capital) — Series C