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Qube Technologies Receives First Regulatory Approval in North America for Continuous Methane Monitoring

CALGARY, AB, May 3, 2021 /CNW/ - Qube Technologies Inc. ("Qube") has been approved by the Alberta Energy Regulator (the "AER") for an Alternative Leak Detection and Repair pilot program to detect and repair climate-warming methane leaks from the Oil and Gas ("O&G") industry. Qube's technology represents a step change in emissions monitoring, offering operators an inexpensive and reliable system that continuously monitors for leaks, is quick to deploy, and uses artificial intelligence to accelerate leak identification.

Qube uses low-cost, high-sensitivity sensors to continuously and autonomously measure a host of gases in real-time to detect emissions faster than traditional industry approaches. Without continuous monitoring, emission leaks can continue unabated for months, undermining environmental relief efforts with an associated cost of lost production to operators. Qube analyzes field data with the help of artificial intelligence and, by combining gas measurements, atmospheric data, and other operational inputs, can locate and quantify different leaks by emission source and severity.

In collaboration with Enhance Energy ("Enhance") and Highwood Emissions Management, Qube has become the first continuous monitoring technology to successfully demonstrate emission reductions effectiveness in the eyes of a regulator. Enhance is an Alberta-based energy company that specializes in using carbon sequestration to improve the recovery of energy resources in a sustainable fashion. To date, Enhance has sequestered over 1 million tonnes of carbon dioxide that would otherwise go into the atmosphere.

"We are excited to be kicking off this project with the AER and Enhance Energy," said Alex MacGregor, Chief Executive Officer at Qube. "Alberta has historically been a source of innovation for the energy industry and we believe this project is a continuation of this trend in the era of decarbonization and environmental stewardship. We believe the technology we have developed at Qube will be on the forefront of this change by enabling operators to transparently disclose emissions reduction progress to regulators, the public, and investors."

Enhance and Qube believe their partnership signals a shift in emissions monitoring that will help Alberta's energy sector reduce its carbon footprint without sacrificing global competitiveness. "We are thrilled to continue working with Qube, who have brought significant value to our emissions monitoring systems," said Tim Benko, Operations Manager at Enhance Energy. "Through partnership with Qube, we have come to realize that continuous emissions data allows for a new level of understanding – one that simply wasn't available when we relied on traditional methods."

New regulations across North America, alongside voluntary efforts by leading O&G companies, are pushing the energy industry to reduce methane emissions. By seeding new ideas and technologies, regulators like the AER are fostering a climate of innovation in Alberta and Canada, allowing companies to achieve sustainable growth while committing to global environmental leadership.

About the pilot participants:

Qube Technologies:
Qube is a Calgary based start-up developing a low-cost environmental surveillance technology. Our mission is to help primary industries, such as oil and gas, cost effectively detect, quantify, and reduce methane and other emissions. Qube is currently working with some of the leading operators across Western Canada and has support from a wide range of investors and government bodies. Please visit qubeiot.com for more information.

Enhance Energy:
Enhance Energy is a privately owned Alberta based carbon management company and a trusted leader in reducing carbon emissions through carbon capture utilization and storage (CCUS). The company and its partners developed the world's largest anthropogenic CO2 transportation system, the Alberta Carbon Trunk Line (ACTL), and has been making great strides in helping to reduce our carbon footprint while producing low cost, low carbon energy. Please visit enhanceenergy.com for more information.

Highwood Emissions Management:
Highwood Emissions Management works with industry, government, and innovators around the world, leveraging data, analytics, knowledge, and experience to optimize emissions management. Their mission is to collaborate, innovate, and educate their way to a world with effective and affordable emissions management solutions. Please visit highwoodemissions.com for more information.

For more information, please contact:

Qube Technologies
Alex MacGregor
Chief Executive Officer
Alex.MacGregor@qubeiot.com

Highwood Emissions Management
Thomas Fox
President
Thomas@highwoodemissions.com

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View original content:http://www.prnewswire.com/news-releases/qube-technologies-receives-first-regulatory-approval-in-north-america-for-continuous-methane-monitoring-301281287.html

SOURCE Qube Technologies Inc.

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View original content: http://www.newswire.ca/en/releases/archive/May2021/03/c3425.html

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