November 1, 2022 dataharvest

BCP Leads Seed Round in Elite Measurements

BCP leads Seed Round in Elite Measurements

November 2022

We are excited to announce our investment in Elite Measurements.  Elite Measurements sells patented hardware and software to oil and gas majors that helps them significantly reduce carbon emissions and reduce the time from “well to sale” improving their margins.  Today, oil and gas companies use large, legacy, gas-fired machines (called Heater Treaters and VRTs) to carry out the separation of gas, water and oil after it is extracted from a well.  This process emits a lot of carbon emissions. EM’s solutions replace this legacy equipment with a modern patented and small-scale hardware and software solution and remove the equivalent of the carbon emissions of 1000 cars from each well each year.  With 1.7 million wells in operation today around the world, EM has the potential to remove the carbon emissions equivalent to more than 1 trillion cars each year.  Additionally, their solutions improve the measurement and speed of the separation process, providing a tangible economic benefit to producers.

Most oil and gas companies have major initiatives to reduce emissions in coming years.  This is already driving significant interest in EM’s solutions – and we expect to drive rapid scale in coming years.  EM already has contracts with a number of large oil majors and following this Seed Round, will be rolling their solutions out to them, in advance of a Series A next year to drive scale.

EM was founded by Rob Miglis, a 20+ year veteran of the oil and gas industry, who saw the opportunity to both improve measurement accuracy and speed and remove carbon emissions from the separation process while working at Chevron.  Miglis joined with Tyson Butler to join EM. Butler brings business and financial expertise from working at KPMG and other startups

We are incredibly excited to partner with Rob, Tyson and team to help make the oil and gas industry more sustainable and efficient!