CALGARY, AB (May 10, 2023) NGIF Cleantech Ventures (Cleantech Ventures or the Fund), a Canadian venture capital fund investing in cleantech innovation in the gaseous energy sector, today announced an equity investment in Lelantos Inc. (Lelantos). The Fund led Lelantos’ Seed financing round with a first close on April 4, 2023.
Lelantos is developing a disruptive gas sensor technology that is poised to advance environmental leak monitoring in the oil and gas sector and air quality monitoring in the HVAC sector. Lelantos’ next generation Internet-of-Things sensors offer a combination of compact size, ultra-low power consumption, and high detection accuracy at a cost unmatched by currently utilized systems.
Lelantos’ breakthrough innovation provides an advanced solution that eliminates the challenges currently holding back widespread adoption of continuous gas monitoring and enables a disruption in the market – a true chemical sensor for the Internet-of-Things. This clean technology can be deployed across the natural gas value chain and is well positioned to capture a significant market share in the $22 billion gas detection market.
Image: Lelantos Sensor
“Current solutions are either too costly, energy intensive, or labor intensive.” said John Adams, Managing Partner, NGIF Cleantech Ventures. “Lelantos’ technology addresses the primary shortcomings of incumbent approaches.”
“We are thrilled to be partnering with Cleantech Ventures. They share the same commitment of addressing one of the most important causes of emissions, that is uncontrollable methane leaks from the oil and gas industry due to lack of effective continuous monitoring solutions. We see them as a valuable strategic partner that can effectively help us realize our vision and significantly accelerate our commercial roll-out. Cleantech Ventures is strongly positioned to provide access to new customers as well as testing facilities to assist in validating our approach.” said Stylianos Siontas, Lelantos’ CEO and Co-Founder. “Their investment will allow us to continue the development of our leak detection sensor technology as well as support upcoming pilot programs with customers.’’
“Methane leak management is very good in North America, but technologies like this one will make it better still. Moreover, the continued development of technology here will allow North American technology leaders to help reduce leaks elsewhere around the world, where leaks are much more serious.” said Timothy Egan, President and CEO of the Canadian Gas Association (CGA).
About NGIF Cleantech Ventures
NGIF Cleantech Ventures is a $55 million industry-led venture capital fund that makes equity investments in early-stage startups. The objective of the Fund is to grow cutting-edge clean technology companies into commercial-scale enterprises. The Fund primarily invests in companies that provide solutions that lead to emissions reductions and other environmental benefits. These solutions are typically focused on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as increased production of renewable natural gas and hydrogen. For more information, please visit ngif.ca/cleantechventures.
About Lelantos
Lelantos is a developer of miniaturized semiconductor gas sensors based in New York, NY. Lelantos novel gas sensing technology is targeted to high-value Internet-of-Things applications in environmental and air quality monitoring, threat detection, industrial safety, as well as medical diagnostics. For more information, please visit www.lelantostech.com.
