Altus Group and St. Francis Xavier University Announce Innovative Technology Collaboration Agreement
Altus Group Limited ("Altus Group") (TSX:AIF), a leading provider of commercial real estate services, software and data solutions, and St. Francis Xavier University ("StFX") today announced that they have signed a technology collaboration agreement. The agreement provides Altus Group with exclusive worldwide commercialization usage rights of StFX's vehicle-based Emissions Attribution via Computational Techniques ("ExACT") gas leak detection technology. Altus Group's Geomatics division will offer StFX's ExACT technology as a service for energy providers and regulators.
The patented ExACT technology allows for detecting and mapping the emission of ground-sourced greenhouse gases into the atmosphere. The ExACT sensor is mounted on a vehicle and collects near-ground geochemical readings that are uploaded to a cloud-based database and allows for real-time analysis.
"Collaborating with StFX is another example of how we're continuously innovating to serve our clients," said Dave Gurnsey, President of Altus Geomatics, Altus Group. "We're pleased to have the exclusive rights to commercialize this leading-edge best-in-class technology. This new service will add value to our clients by providing greater visibility into emissions and will complement our geospatial data management solutions."
The ExACT survey technology is capable of covering a large region at a very fine scale which provides operators with the detailed data and analytics they require to detect leaks before they become a regulatory issue. The ability to identify emissions in an efficient and cost effective manner allows producers to minimize the economic cost of lost commodities and maximize environmental protection.
"Altus Group is perfectly positioned to make the most of this technology, given its expertise in big data and analytics, and its great people across the country. The industry is moving towards greener, cleaner, and lower risk operations, and Altus Group will play an important role in that transition," said Dr. Dave Risk, Associate Professor and Project Lead, St. Francis Xavier University.
For more information on this service offering by Altus Group's Geomatics division, please contact Ryan Maloney, Branch Manager, by email at email@example.com or by telephone at 1-306-842-6060. For more information on ExACT technology, please contact Dr. Dave Risk by email at firstname.lastname@example.org or by telephone at 1-902-867-4854.