Project Canary

Project Canary is a SaaS-based ESG data platform that analyzes GHG emissions across the energy value chain. The company uses high-fidelity sensors to gather emissions data. Project Canary offers SENSE CCUS, a dMRV (digital monitoring, reporting, and verification) platform, to provide real-time operational insights and regulatory compliance requirements for customers. Its CCS solutions consist of compliance advisory services, voluntary carbon market (VCM) alignment, regulatory support, and data architecture advisory.

Project Canary supplements CCUS projects with its ground-based Sentinel CO2 sensors and UAV (unmanned aerial vehicle)-based CO2 solutions. These emissions are then visualized by the Canary SENSE platform with smart alert notifications and tabulation of data for regulatory reports. The company delivers “Canary Insights,” which are performance reports using real-time continuous monitoring of carbon data. Project Canary gathers data across the CCUS value chain into a reconciliation platform to generate carbon credits.

Key customers and partnerships

In November 2022, Project Canary partnered with Denbury Inc., IMA Financial Group Inc., Enerflex Ltd., Wolf Carbon Solutions US, and Advanced Resources International to develop independent environmental assessments and data measurement for carbon capture and sequestration (CCS). In October 2023, Project Canary expanded its partnership with BKV Corporation to perform a carbon assessment for BKV's Barnett Zero project for transparent and data-driven CCUS operations.

Funding and financials

The company’s latest funding round was in February 2022, when it raised USD 111 million in a Series B funding round led by Insight Partners. The company used the funding to scale up its emission measurement solutions and expand into new sectors.