SpotLight Raises $6.7 Million Series-A to Accelerate the Rollout of CCS Monitoring Technology

France based SpotLight, deeptech geophysical startup, today announced a $6.7 million Series A funding round to accelerate the rollout of it's breakthrough Carbon Capture and Storage (CCS) monitoring technology.

The investment round is led by Emerald Technology Ventures (Switzerland) with participation from Phaze Ventures (Oman), Industrya (Belgium), Nabtesco Technology Ventures (Japan), , and AFI Ventures (France), reflects an international consensus on SpotLight's potential to revolutionize the monitoring and validation of subsurface carbon capture and storage (CCS) on a global scale.

SpotLight's deep tech technology employs proprietary algorithms to analyze vast amounts of subsurface data, optimizing the efficiency and effectiveness of CO2 geological storage. Recognized for its speed, enhanced deployability, and reduced need for intrusive fieldwork, SpotLight's solution was created to fosters broader confidence in CO2 storage among stakeholders, including local communities, policymakers, and the general public.

Forecasts indicate an annual increase of 27% in CCS capacity between 2023 and 2030, driven by already announced projects and initiatives to achieve the Paris Accord climate goals. Additional policy incentives, such as the Inflation Reduction Act in the US, are poised to accelerate this growth trajectory, creating heightened demand for solutions like SpotLight's that deliver efficiency gains and resource optimization for CCS providers.

Co-founder and COO of SpotLight, Elodie Morgan, expressed, "Our trajectory from the recognition as laureates in I-Lab and I-Nov to securing this transformative Series A funding round has been truly remarkable. We extend our gratitude to our dedicated staff, board, and expert committee for their unwavering support. This investment stands as a resounding validation of our approach's value and its potential to revolutionize CCS subsurface monitoring. As we move forward, we're enthusiastic about recruiting new talented SpotLighters to further amplify our capabilities."

SpotLight CEO and co-founder, Habib Al Khatib, added, "This funding round aligns perfectly with the increasing demand for our innovative solution for CCS. We see this demand growing thanks to the success of our projects onshore in Canada and offshore in Denmark (project GreenSand). With the support of Emerald and our consortium of investors, we are well-equipped to drive change in the CCS market and position our surveillance approach as the industry benchmark."

About SpotLight

SpotLight is a deeptech geophysical startup founded in 2017 by Elodie Morgan and Habib Al Khatib. SpotLight developed a proprietary seismic monitoring approach that capitalizes on existing data to enable frequent, reliable, environmentally friendly and cost-effective monitoring of subsurface activities, including CO2 storage sites.

For more information, please visit www.spotlight-earth.com or contact SpotLight at contact@spotlight-earth.com