Silicon Microgravity raises $7 million
The round included IP Group, Parkwalk, BP Ventures and Cambridge Enterprise and bring the total raised by the company to more than $11 million since its founding in 2014.
Silicon Microgravity (SMG) has a developed a highly sensitive MEMS-based gravitational meter that is based on resonant frequency sensing rather than capacitive or optical methods. The primary application for the technology is to improve surveillance, appraisal and production of oil and gas. There are additional potential applications in CO2 storage, water management, mining and defence.
The MEMS technology consists of a 3-axis accelerometer with a projected resolution of approximately one billionth of the Earth’s gravity. SMG is also funded for and actively researching a related MEMS gyro technology with a potential application to inertial navigation.
SMG said it will use the $7 million to commercialise its technology and fund growth.
Jeremy (Jez) Lofts joins SMG from Baker Hughes Inc., a supplier of oil field and drilling service.
In a statement Professor Ashwin Seshia, co-founder of SMG, said the company is embarking on an ambitious field trial program in collaboration with BP and other partners to establish borehole microgravity as a viable technology for reservoir surveillance.
“Our technology has a strong value proposition for our oil and gas customers looking to improve reservoir yields through enhanced subsurface monitoring and understanding,” said Lofts in the same statement.
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