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Mcloud Technologies Corp. Partners with Halifax-Based Prosaris Solutions Ltd. for Rollout of A New Assetcare Solution Targeting Fugitive Gas Emissions

06/23/2021 | 07:00am
mCloud Technologies Corp. announced it has partnered with Halifax-based Prosaris Solutions Ltd., developers of a cutting-edge, mobile, wireless ultrasonic detector capable of reliably quantifying air and gas leaks as the Company begins the rollout of a new AssetCare solution targeting fugitive gas emissions. As announced in February 2021, mCloud is launching an AssetCare solution that will uniquely pair the Prosaris offering with AssetCare's industrial AI to enable the continuous inspection and correction of gas leaks at oil and gas facilities, known to be one of the primary causes of harmful emissions in the sector. Research from McKinsey and Company indicates nearly half of all oil and gas emissions can be traced to these "fugitive gas" emissions, the unintended release of harmful gases such as methane from industrial equipment including pipelines, wells, and storage tanks. Through continuous detection and correction, mCloud expects to reduce the time to detect and curb the sources of harmful emissions from the industry average of two months to less than one day. The Company estimates each leak corrected through the AssetCare solution has the potential to eliminate up to 50 tons in CO2e emissions. mCloud will partner with Prosaris to support the development of an intrinsically-safe version of their ultrasonic detector in return for time-limited exclusive access to this detector within oil and gas. This partnership complements the recent success Prosaris has had in securing funding and support from Sustainable Development Technology Canada. Both mCloud and Prosaris plan to work together to target thousands of oil and gas sites across Western Canada and the United States in the months ahead. Commercial rollouts of the solution are underway with oil and gas operators in the province of Alberta, with Alberta-based AltaGas Ltd. to be among the first recipients of the solution connecting their workforce at several of their key facilities.
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