An increasing number of tech companies are launching software for oil and gas producers, to measure their carbon emissions, prompted by mounting pressure from investors, who want greenhouse gases to be controlled.
Top investors like BlackRock, have introduced climate change to their agendas, and are now encouraging energy production companies to evaluate programs that will help them track emissions and report on the results.
SAP and Salesforce.com are some of the software companies working on these programs. Some startups are involved, too, like Persefoni, based in Tempe, Arizona. They have all launched products that help firms document how much they emit.
Tracking is a way to show investors that they are serious about their constant pledges to control emissions.
Startups and tech giants
Persefoni is led by former Chesapeake Energy’s chief digital officer, and on Tuesday, it announced that it received funding from energy investor Rice Investment Group, Carnite Ventures, and others. They are in discussion with two major oil producers, to see if they can get more investments.
The company is employing artificial intelligence built around the Greenhouse Gas Protocol accounting method. The co-founder, Kentaro Kawamori, started the company with a team of 20 people, around the globe.
Kawamori says that it was clear from the beginning that calculating the carbon footprints and reporting would not be optional. He declined to name customers until the expanded product launch in November.
A rush to market
The software made by Persefoni will be pitted against Germany’s SAP, which launched its carbon emissions accounting system quite recently and Salesforce.com, which said it has customers from 10 different industries.
Mart Gallagher, the chief executive of Parsley Energy, said that the numbers have to be real. Parsely is using in-house technology and third-party remote monitoring equipment. They will apply AI to analyze combustion and predict malfunctions.