Aeromon, a Helsinki-based emission monitoring service and technology company announced on Thursday that it has raised €4.8M to develop and scale its operation.
A capital loan from The Finnish Climate Fund is part of the financing package, of which €2.4M was raised from an industrial investor, including Vopak Ventures, and the company’s current shareholders.
The capital loan decision from The Finnish Climate Fund was approved after Aeromon’s offering passed the strict business potential and impact criteria analysis by the state-owned special-assignment company.
How will the funding be used?
The funding will enable Aeromon to further advance data analysis capabilities for rapid leak detection and accurate quantification of emissions. The company plans to expand its presence in North-Western Europe, close to industrial hubs.
“We’re proud to be joined by a leading global company like Vopak on our journey to visualize report leaks and support industrial companies in emission reduction. Amongst improvements in technology and service portfolio this funding enables Aeromon to be closer to a major market by opening a permanent office in Rotterdam, The Netherlands,” says Maria Kuosa, CEO of Aeromon.
“Thank you to Vopak for joining us as an investor and foremost for bringing in valuable expertise regarding global tank storage business opportunities,“ she adds.
Unique monitoring technology
Aeromon has developed a unique monitoring technology to detect and report methane, volatile organic compounds, and other emissions. The company provides mobile (drone-mounted) emission monitoring services to both industry and authorities.
Aeromon provides customers with visual, real-time data that enables better decision-making through improved situational awareness. Also, the company’s modular UAV-assisted emission monitoring solutions can be used in complex and demanding environments, says the company.
The company’s solution leads to highly accurate leak detection and quantification of leaking emissions ten times quicker than traditional methods.
Last year, the company has served clients in Germany, The Netherlands, Belgium, Spain, Slovenia, and France. The aim is to serve Central European clients more efficiently by having an operational team now in Rotterdam and eventually in other major industrial cities in Europe.
Vopak Ventures is the venture arm of a globally leading independent tank storage company, Royal Vopak.
“The activities of Aeromon very well match with the ambition of Vopak Venture’s sustainability fund in which we identify investment opportunities in start-ups and scale-ups in new technologies to make the industry more sustainable. It is our pleasure to become an active partner in Aeromon’s journey,” says Leo Brand, CIO of Royal Vopak and Chairman of Vopak Ventures.