LongPath Technologies Secures $162.4 Million Loan

LongPath Technologies, a Boulder-based company, has secured a $162.4 million loan from the U.S. Department of Energy to expand its methane emissions monitoring network across key U.S. oil and gas regions. This funding will enable the installation of over 1,000 remote monitoring towers, covering approximately 24,000 square miles, aimed at detecting and mitigating methane leaks, a potent greenhouse gas. The project aligns with the Biden administration's climate goals, supporting efforts to block harmful emissions and achieve significant reductions in greenhouse gases. LongPath's technology, developed at CU Boulder, employs laser sensors to provide real-time data on methane emissions, thus improving compliance and operational efficiency for oil and gas producers. The company has already demonstrated its capabilities by mitigating 4 billion cubic feet of emissions in 2024 alone. The initiative is seen as a critical step towards sustainability, aiming to prevent emissions equivalent to at least 6 million metric tons of CO2 annually.