atmio funding news – Hamburg-based atmio Secures €5.1 Million in Seed Funding

Other investors to participate in the round include previous investors, HCVC and Robin Capital; as well as angel investment from Bernhard Mohr, former VP Gas Detection at Dräger, and David Rowan’s VOYAGERS Climate-Tech Fund. atmio will use the funding to go to market, develop its product, hire new engineers, and build out a new marketing and customer success team.

A potent greenhouse gas, methane is the main component of the natural gas utilised by Natural Gas Companies to generate electricity, and homes to generate heat. Methane leakages occur primarily from natural gas escaping due to maintenance issues or broken equipment such as pipelines or tanks.

Methane emissions are responsible for a third of global warming and are the second highest GHG contributor to climate change following CO2. According to the European Commission : 60% of global methane emissions result from human activity, and a third of this comes from the energy sector.

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Previously, natural gas operators have relied on largely manual methods of leak detection, logging and repair in response to a methane leak in their plants. This is very time-consuming and relies on manual identification of the source of a leak, and tackling each one by one.

This has typically meant that most leak detection efforts are focused on safety risks, over and above detecting the smaller leaks which cause big environmental impact over time. Although operators have reported methane leaks in the past, they have often relied on rough estimates and didn’t report on a regular basis.

Matthias Schmittmann, CEO and Co-Founder of atmio says, “It’s of crucial importance that we target methane leaks specifically if we are to reduce harmful emissions. Our platform helps natural gas operators to comply with new EU regulations and make a big impact on reducing harmful emissions. For example, we detected that in one customer’s single leak, our solution averted the release of methane equivalent to 160 return flights from Germany to the Maldives. This seed round will enable us to go to market in Germany and replicate this kind of success in companies across Europe.”

Marius Krüger, COO and Co-Founder of atmio says, “We envision becoming the world’s leading company to measure and manage greenhouse gas emissions, starting to help natural gas companies abate an additional 1 Billion tonnes of CO2 emissions. Not only does this reduce harmful emissions, but by reducing leaks, we estimate that $60B worth of emitted methane could be captured and brought to markets, yearly. We aspire to build a platform which can integrate other technologies such as satellite and drone data, to become the one source of truth for industry-related emissions.”

Kamil Mieczakowski, Partner at Notion says, “Reducing methane emissions is crucial to reaching net zero, and regulators on both sides of the Atlantic are well aware of this. Atmio’s market entry couldn’t be more timely, given the recent approval of the EU's methane regulation, which places an unprecedented level of duty of care on gas operators. We are impressed by how many of some of Europe’s largest gas operators have already entrusted Atmio to help them navigate this change, and we look forward to seeing what’s ahead as they begin to scale.”

Charlotte Baumhauer, Investment Manager at SquareOne says, “Methane emissions are responsible for about 30% of global warming. We believe in atmio’s unique combination of hardware and software to address this urgent problem – and the timing is just right: with the new regulation, natural gas companies are obliged to measure, monitor and report their methane emissions according to the highest standards, and to take action to reduce them. atmio’s solution delivers immediate results for an entire industry. We are very excited to support the team on their important mission.”

About atmio

Hamburg-based atmio is building the operating system for the oil and gas sector to effortlessly find, fix, and report methane emissions. With its unique combination of hardware and software, atmio is on a mission to tackle climate change and become the world's leading provider to measure and manage greenhouse gas emissions. Launched in 2023, the team is led by Co-founders Matthias Schmittmann (CEO) and Marius Krüger (COO), who have extensive
experience in the sector.