Canada's NGIF invests in digital tech to manage natural gas wastewater
SUMMARY
Galatea Technologies has developed a digital platform for producers to manage their wastewater challenges.
By Maureen McCallCanadian venture capital fund NGIF Cleantech Ventures said February 1 it had made an equity investment in Software-as-a-Service (SaaS) company Galatea Technologies, which is developing a digital platform to assist natural gas producers with managing their produced water challenges.
Galatea’s SaaS platform allows users to utilise and market excess disposal facility capacity while digitally monitoring waste to help meet regulatory compliance obligations.
"Galatea is digitising the antiquated wastewater disposal process through their proprietary routing algorithm and digital ticketing solution,” said John Adams, NGIF's managing partner. “We believe that Galatea will be able to deliver emissions reductions, cost savings, and revenue generation for its impressive and growing roster of customers.”
Galatea has created an intelligent logistics and scheduling optimisation system that has the potential to revolutionise the way natural gas producers dispose of waste and water.
“Water management and disposal is an often-overlooked facet of energy production,” Canadian Gas Association (CGA) CEO Tim Egan said. “To meet the energy needs of Canadians, producers require a solution to dispose of wastewater safely and efficiently.”
The CGA created the Natural Gas Innovation Fund (NGIF) in 2016, and since then has added a number of funding platforms, including NGIF Cleantech Ventures.
