A joint-venture between petrol giant BP and Cambridge University has raised $7m to further its work on novel surveillance and detection technology for the oil and gas industry.
Investors IP Group, Parkwalk, BP Ventures and Cambridge Enterprise have put the cash into Silicon Microgravity. The company believes its technology has the potential to disrupt current practices and advance reservoir surveillance so that clients can achieve real efficiencies and cost savings while meeting their desired social, safety and environmental goals.
Based on over ten years of research from the University’s Nanoscience Centre, in collaboration with BP. It has developed a unique high performance, ultra-sensitive, yet robust microelectromechanical system (MEMS). The MEMS technology consists of a three-axis accelerometer with a projected resolution of approximately one billionth of the Earth’s gravity. SMG is also funded for and actively researching a related MEMS gyro technology with a potential application to inertial navigation.
This funding round of $7m will allow the company to commercialise its technology and grow rapidly.
Prof Ashwin Seshia, co-founder of Silicon Microgravity, said: “We have made very significant progress in developing the technology over the past year, meeting key technical milestones. Our MEMS sensors are sensitive enough to detect seismic events across the globe and stable enough to track Earth tides. We continue to develop the technology underpinning these sensors, moving the roadmap towards even higher resolution and stability. SMG has assembled an outstanding R&D and leadership team to launch the next phase of development, and is embarking on an ambitious field trial program in collaboration with BP and other partners to establish borehole microgravity as a viable technology for reservoir surveillance. ”
Source: BP and Cambridge University joint-venture Silicon Microgravity raises $7m – Cambridgeshire Live
