NevadaNano, a developer and manufacturer of high performance, low cost silicon MEMS gas sensors, in a recent statement on Thursday, Jan. 10th 2019, announced that Jiangsu Hoperun Software Co. Ltd., a public Chinese company, through its US subsidiary HopeRun Technology Corp., has participated as an investor in NevadaNano’s existing Series B offering.
The two companies will collaborate on developing an IoT end-to-end sensor solution that’ll automatically detect and report any kind of methane leaks in an ecosystem, for oil and gas exploration, production, and transport industry. The product which will be a joint effort of the two companies is expected to reach the market in the third quarter of 2019. The companies claim that this IoT end-to-end sensor solution will be the most cost-effective IoT solution for detecting, and ultimately reducing, methane emissions.
Methane (CH4) is a greenhouse gas that is 84 times more potent than carbon dioxide (CO2), and its emissions account to an approximate 25 percent of manmade global warming. The fossil fuel industry is the largest source of human-sourced methane, leaks during the production and transportation stage of natural gas are amongst the most imperative sources of unintended methane leaks, which needs to be monitored.
The two companies with their collaborative effort will develop an effective end-to-end methane-leak detection system, which will include NevadaNano’s Molecular Property Spectrometer (MPSTM) Flammable Gas sensor integrated into HopeRun developed IoT modules, that comes with wireless connectivity. The new system with its ubiquitous monitoring for methane gas leaks will be implemented across the full spectrum of the fossil-fuel industry, from natural gas production to its transportation facilities.