Highwood Emissions Management – announced it has secured $3 million in seed funding – led by Energy Capital Ventures (ECV) and supported by Veritec Ventures. This marks the first external funding Highwood has accepted, positioning the company for accelerated growth and innovation in the emissions management market.
The company plans to use the investment to further develop and scale its revolutionary Emissions Management Toolkit software platform. Built to address the evolving challenges faced by the oil and gas industry, the toolkit empowers companies with the tools they need to capitalize on their greenhouse gas emissions management strategies.
By offering operators advanced data tools, Highwood empowers energy companies to achieve climate change objectives by meeting them where they are in their emissions management journey. And ECV – the only early-stage venture fund investing in the future of ESG innovation and the digital transformation of the natural gas industry – served as the lead investor in this round. Highwood CEO Jessica Shumlich pointed out ECV’s deep understanding of the industry, combined with their experience and dedicated focus on decarbonization tools, made them an ideal partner.
The seed stage round of funding will also be allocated towards expanding Highwood’s teams, accelerating development, and fostering collaboration with industry and academic partners. And by investing in talent acquisition and internal growth, Highwood aims to solidify its position as a leading provider of emissions management solutions and continue to innovate in the market.
The company has already made significant strides in the industry with its commercialized software, including the highly acclaimed Reduction Pathways – which helps develop emissions reduction strategies, compare effectiveness, and communicate progress to their emissions targets. And future development will focus on Highwood’s Emissions Insights, an integrated platform that leverages emissions data from diverse sources to improve decision-making and streamline disclosure.
The company has actively engaged in noteworthy projects and collaborations, showcasing its involvement in various impactful initiatives. One such collaboration involved providing advisory services to MiQ, a prominent non-profit organization that offers a natural gas certification program, distinguishing operators with low methane emissions from others in the market. And through this partnership, Highwood and MiQ developed a cutting-edge tool that enables operators to assess their methane intensity levels, aiding them in their decision-making before undergoing the formal MiQ certification process.
Highwood has played a pivotal role as the primary technical consultant for Veritas, GTI Energy’s Methane Emissions Measurement and Verification Initiative. And Veritas stands as a groundbreaking project addressing the critical need for reliable and comparable measurement-informed methane emissions intensity in the industry.
The recent successful completion of the seed funding round is a testament to Highwood’s forward-thinking approach and commitment to revolutionizing emissions management practices. And with esteemed investors such as ECV and Veritec Ventures providing support, Highwood is poised to deliver on its mission of collaborating, innovating, and educating our way to a world with effective and affordable emissions management solutions.
KEY QUOTES:
“We were extremely impressed by Highwood’s thought leadership in emissions management and mitigation and their commitment to decarbonization. With this investment, we are confident in Highwood’s ability to solidify its position as a leading provider of emissions management solutions and continue to drive positive change in the energy sector.”
— Vic Pascucci III, Managing General Partner at ECV
“We are excited about Highwood’s future as they navigate the emerging challenges of emissions management. We love Highwood’s focus on the energy industry. Given our extensive background in the energy sector, we believe Veritec can add immense value to continuing product development, customer acquisition, and the overall scaling of the business.”
— Krishna Shivram, Managing Partner at Veritec Ventures
“This funding round is a significant milestone for Highwood Emissions Management. In order to generate intelligence to inform decision-making, companies need to be able to compile, analyze, and understand the data required for an integrated emissions management solution. We are thrilled to further expand and enhance the Emissions Management Solution, assisting oil and gas companies at every stage of their emissions management journey.”
— Highwood CEO Jessica Shumlich
