Methane releases from the energy sector are a major contributor but are very hard to locate and measure. This challenge is a global opportunity for the company to partner with energy operators working to reduce their emissions. Mirico has already attracted interest from industrials including Shell, which invested in the company via its Shell Ventures arm in 2022 and is testing the technology at its facilities.
The heart of Mirico’s solution is an advanced wide-area laser-based sensor that autonomously scans for methane releases across an entire facility, characterising them with high precision and parts-per-billion sensitivity. This unique device provides continuous monitoring, unlike survey-based competitors such as gas cameras, drones or satellites which have intermittent coverage and often miss important emission events.
The company’s digital platform then characterises and visualises emissions and enables comparison of measurements over time. This helps customers swiftly address small emissions before they become major ones, understand their progress towards reduction targets and mitigate the risk of fines or non-compliance.
The new investment round combines significant equity with non-dilutive grant co-funding which UKI2S helped secure. Overall, the round will fuel Mirico’s product roadmap, digital analytics capabilities and commercial progress as the company scales-up in readiness to serve global customers.
