CALGARY, Alberta--(BUSINESS WIRE)--Validere, a leader in bringing product data transparency to the oil and gas industry, announced that together with critical partners Xpansiv, Pacific Canbriam Energy, and Clearstone Engineering (“the partners”), they have received $1.2 million of support through Sustainable Development Technology Canada (STDC). The funding will accelerate the development of technology that supports the low emissions gas market in Canada and globally.
Validere uses data to enable energy companies to be more efficient, reduce emissions, and improve revenues. The company helps more than 40 producers, midstream, and downstream energy companies consolidate their commodity inventory data into a single repository, so they have a detailed “genealogy” of every molecule as it progresses through the energy supply chain.
The project empowers Validere and its partners to continue pioneering the capture, validation, and transfer of additional data on each molecule, including emissions like methane. This allows buyers to confidently purchase the most responsibly sourced gas. Xpansiv maintains the registry for the datasets, removing the risk of double counting and ensuring transparency for buyers seeking to create demand for emissions reductions. Validere is the data layer for the ecosystem, while Clearstone calculates the emissions profile associated with the field-level data from Validere. In addition, Pacific Canbriam, as the responsible gas producer, is creating groundbreaking new datasets from its Canadian assets.
“For Canadian producers, this is a great opportunity as they hold an abundance of resources that are developed responsibly,” said Mark Le Dain, SVP of Strategy and Corporate Development at Validere. “We are supporting an ecosystem that now lets them prove this responsible approach and get rewarded. Emissions amongst gas producers can vary by a factor of four, which has created confusion on how critical natural gas is to reduce global emissions. Once the market can clearly see emissions at a producer level, it should incentivize the increased adoption of gas so long as the right molecule is produced, transported, and consumed. This ecosystem is great for Canadian producers and the environment, and we are excited to partner with SDTC in this mission.”
“This funding will further enhance the technology used to transparently demonstrate to our downstream customers, the responsible nature in which our gas is produced. We recently achieved EO100™ Standard Certification – this means our gas has been externally verified as being responsibly sourced. At Pacific Canbriam, we always strive to produce even more sustainable energy and continuously seek out new technology to further reduce global greenhouse gas emissions,” said Paul Myers, President of Pacific Canbriam Energy.
"The SDTC funding will help our consortium accelerate the development of markets for low emissions natural gas and other fuels," said Peter Schriber, Xpansiv VP of Market Development, Canada. "We're providing market participants and consumers with a clear path to reach increasingly aggressive ESG targets and empowering the market to reward producers with superior environmental performance. Together, we're ushering in a new era of transparency and measurable climate action, enabling more informed procurement decisions based on empirical, site-specific activity.”
Validere is a leading data and analytics SaaS provider that is digitally transforming the world’s largest supply chain to be more sustainable and efficient. Our Product Data Cloud enables energy companies to aggregate all commodity inventory data into a complete, accurate, and auditable repository that allows them to create a real-time digital fingerprint of the molecule. Using this single-source-of-trust and our digital infrastructure models, energy professionals across operations, commercial, and ESG functions can now quickly make data-driven decisions on a daily basis. By partnering with us, business leaders leverage our unique datasets and our experts in data science, physical science, and oil and gas to create a company-wide value engine. As a result, more than 40 of North America’s leading energy companies now realize the full value of their commodities through higher commercial margins, reduced operational costs and risks, and meaningful ESG progress.
About Sustainable Development Technology Canada
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.
Xpansiv is the global marketplace for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the leading spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas™; H2OX, the leading spot exchange for water in Australia; XSignals, which provides end-of-day and historical market data; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge.
About Pacific Canbriam Energy Limited
Pacific Canbriam Energy Limited is a private exploration and production company with a focus on liquids-rich natural gas development. Its principal producing properties and acreage positions are in the Altares and Kobes Montney regions of northeast British Columbia. Pacific Canbriam is an industry leader in water management and recycling, and unique in the ownership of all infrastructure. The company was founded in 2007 and is headquartered in Calgary, Alberta with an office in Fort St. John, British Columbia.
About Clearstone Engineering
Clearstone is an international process and environmental engineering firm specializing in air emission assessments and industrial air pollution control. Clearstone provides advanced engineered solutions and source-testing services to the natural gas, petroleum, petrochemical and energy industries. Their goal is to help clients evaluate and resolve their air emission problems.