Aquanta vision advances methane detection technology with nsf ascend engine grant, expands engineering and product team in colorado
NSF ASCEND Engine today announces Aquanta Vision’s successful completion of its grant-funded project, marking a major milestone in the commercialization of its optical gas imaging (OGI) methane-detection software, the NETxTEN app.
Millions of inspections for leaks are conducted with OGI cameras annually in the Oil &Gas (O&G) industry in the US. Yet, 60% of the leaks evade detection at inspections each year.
Leaks negatively impact the US O&G industry, resulting in a 3% loss in annual natural gas revenues. Leaks also lead to safety-driven productivity losses, which lower the industry’s annual profitability by 6%.
Aquanta Vision’s NETxTEN app makes finding leaks easy by automating detection and increasing detection speed and accuracy.
According to Babur Ozden, CEO and Founder of Aquanta Vision, the NSF ASCEND Engine grant has been instrumental in propelling Aquanta Vision from testing to commercial readiness. “The NSF ASCEND Engine grant moved us from the final stages of testing and into our commercial phase.”
Aquanta Vision released the commercial version of NETxTEN in October after the completion of several field pilot projects during the grant period. Also, during the grant period, the startup generated its first revenues and received follow-on investments from Ecosphere Ventures and Odyssey Energy Advisors, and a strategic investment from Marathon Petroleum Corp (NYSE: MPC).
“Aquanta Vision is the first translation-focused company to not only complete the Engine project plan but to exceed every milestone with precision and purpose,” says Mark Gorham, Client Director at the NSF ASCEND Engine. “Their commitment to innovation and operational excellence sets a new benchmark for what’s possible through the NSF ASCEND Engine. We’re proud to support a team that’s turning breakthrough technology into real-world impact.”
Aquanta Vision is committed to growing its engineering, support, and product development functions in Colorado, and has recently hired four graduates from Colorado universities.
According to Ozden, “Because of the grant, we made the decision to center all of our tech-related activity in CO. We also care about contributing to Colorado’s rising star as a potential center for developing industrial emissions detection, monitoring and measurement technologies.”
About Aquanta Vision:
Founded in 2023, Aquanta Vision is the maker of NETxTEN, the tiny app that makes finding gas leaks easy. Aquanta Vision is backed by Chevron Technology Ventures, Ecosphere Ventures, Odyssey Energy Advisors, Marathon Petroleum Corp and CSU Strata, and is the recipient of grants and awards from NSF ASCEND Engine and NREL of US DOE. The startup has been accepted in to Chevron Studio, Rose Rock Bridge, Shell Game Changer and Innosphere accelerator programs.
Visit www.aquantavision.com for more information
About the NSF ASCEND Engine:
Led by Innosphere and funded by the U.S. National Science Foundation (NSF), with support from the State of Colorado and the State of Wyoming, the NSF ASCEND Engine is a collaborative initiative focused on driving innovation in climate resiliency across the Colorado-Wyoming region. The NSF ASCEND Engine brings together a diverse network of partners to develop and commercialize technologies that address critical community resiliency challenges, foster economic growth and enhance community well-being.
Visit www.co-wyengine.org for more information.
