LongPath Technologies Celebrates $162 Million DOE Loan Close with Event Highlighting Climate Innovation
BOULDER, Colo.–(BUSINESS WIRE)–LongPath Technologies, a leader in methane emissions management, will celebrate the closing of a $162.4 million loan package from the U.S. Department of Energy’s Loan Programs Office on Friday, October 25, 2024, from 9-11:30 am MT at the University of Colorado Boulder campus. The event will include a visit to the Rieker Laser Lab at the University of Colorado Boulder, highlighting the advanced quantum laser technology at the heart of LongPath’s methane detection system.
- Friday, October 25, 2024, from 9-11:30 am MT at the University of Colorado Boulder campus
- RSVP and more information: [email protected]
- Key speakers will include Jigar Shah, Director of the DOE’s Loan Programs Office, and Greg Rieker, co-founder and CTO of LongPath, alongside Luis Ortiz, Deputy Director ARPA E, Massimo Ruzzene, Vice Chancellor for Research and Innovation and Dean of the Institutes.
- Attendees will get an exclusive behind-the-scenes look at LongPath’s methane-hunting laser technology, including demonstrations of how the company’s advanced sensing nodes deliver real-time emissions data to customers via a data dashboard.
CU Boulder has been recognized as a leader in quantum science and technology since the 1962 establishment of JILA, a joint research institute of CU Boulder and the National Institute of Standards and Technology (NIST). CU Boulder’s collaborative efforts in quantum have earned four Nobel Prizes, including one for the optical frequency comb at the heart of LongPath’s technology. Most recently, CU Boulder’s quantum legacy and current investments helped the Elevate Quantum consortium win the nation’s only Department of Commerce quantum Tech Hub, unlocking more than $127 million in new federal and state funding dedicated to establishing Colorado and the Mountain West as a global leader for quantum innovation.
“The journey from lab to loan is a testament to the power of scientific innovation and the collaborative spirit between academia and industry,” said Dr. Greg Rieker, Chief Technology Officer and co-founder of LongPath Technologies, “Our technology, rooted in years of research at the University of Colorado and NIST, embodies the transition from groundbreaking science to real-world impact. This DOE loan signifies the next step in bringing lab-based advancements to the commercial stage, enabling us to revolutionize methane emissions monitoring and create meaningful change for both industry and the environment.”
Attendees will also hear about LongPath’s vision for supporting the nation’s drive towards methane emissions reduction, job creation, and a sustainable energy transition. The celebration will conclude with a Q&A session to dive deeper into the critical role LongPath will play in the future of low-carbon energy and how the LongPath co-founders, Dr. Greg Rieker, Dr. Caroline Alden, Dr. Sean Coburn, and Robbie Wright, partnered with ARPA-E and the DOE to take this novel approach to emissions reductions from Lab to Loan to commercialize globally.
Ian Dickinson, CEO of LongPath Technologies, commented: “The $162M loan from the DOE is a transformative milestone, but we wouldn’t be here without the trust and collaboration of our operator-commercial partners. Through the PathFinder Program, we’re not only deploying a methane sensing network but also building relationships with operators and communities, ensuring American energy facilities can meet regulations and drive operational efficiency. This is a collective journey, blending innovation with real-world impact, and we’re proud to stand alongside the energy leaders who rely on this quantum technology every day.”
“When Colorado companies secure federal funding, it accelerates their work to deploy new technologies and strengthens our economy by supporting key industries while creating new jobs. We have been proud to support LongPath’s growth and are thrilled to see the company achieve this critical milestone,” said Eve Lieberman, Executive Director of the Colorado Office of Economic Development and International Trade.
The DOE funding will enable LongPath to deploy methane sensing nodes across all U.S. production basins, providing rapid leak detection that results in significant mitigation of methane emissions.
About LongPath Technologies
LongPath Technologies is the leading provider of advanced methane emissions performance management for oil and gas operators. They use proprietary laser-based technology to offer full-site monitoring, which provides precise quantification and localization of methane emissions. This comprehensive solution supports Leak Detection and Repair (LDAR), OOOO, OGMP, and other regulated programs, helping operators minimize emissions, ensure regulatory compliance, and enhance operational efficiency. LongPath is committed to promoting a low-carbon future across diverse basins and geographies. www.longpathtech.com
About University of Colorado Boulder
At the foot of the Rocky Mountains, the University of Colorado Boulder is nationally recognized as one of only 38 AAU public research universities. Established in 1876, CU Boulder is an R1 public research university with five Nobel laureates, nine MacArthur fellows and is the No. 1 public university recipient of NASA awards. CU Boulder is a leader in many fields, including aerospace engineering, earth and environmental science, physics, and environmental law. Visit www.colorado.edu.
Contacts
LongPath Media Relations
Rachael Shayne | [email protected]
CU Boulder Media Relations
