LONGPATH TECHNOLOGIES FINALIZES $162.4 Million DOE LOAN TO EXPAND NATIONWIDE METHANE EMISSIONS MONITORING NETWORK

LongPath Technologies, Inc. (LongPath) proudly announces the finalization of a $162.4 million loan from the U.S. Department of Energy'sLoan Programs Office (LPO). This funding will expedite the deployment ofLongPath's nationwide methane emissions monitoring network, which will  revolutionize emissions monitoring across major U.S. oil and gas production regions, including California, Colorado, New Mexico, North Dakota, Oklahoma, Pennsylvania, Texas, Utah, and Wyoming.

Rooted in Nobel Prize-winning optical frequency comb technology, LongPath Technologies is a commercial spinout resulting from ARPA-E’s MONITOR award to Dr. Gregory Rieker’s lab at the University of Colorado,Boulder. As a commercial enterprise, LongPath received foundational support from ARPA-E's ScaleUP awards and is now bolstered by the DOE LPO funding. These initiatives align with LongPath's mission to "Flatten the Methane Emissions Curve" primarily by collaborating with oil and gas operators to reduce methane intensity across major basins. With DOE's financial backing, LongPath plans toll over 1,000 advanced laser-based methane sensing nodes, covering up to 24,000 square miles and monitoring tens of thousands of facilities.

"DOE's support for LongPath's wide-area methane detection network is significant," said Ian Dickinson, CEO of LongPathTechnologies. "Our laser-equipped system provides U.S. oil and gas producers with an affordable, high-impact tool to ensure compliance, optimize LDAR (Leak Detection and Repair) programs, and eliminate costly methane leaks. This loan speeds up our capacity to offer operators the technology needed to achieve significant methane reductions, supporting both operational efficiency and environmental sustainability."

The network is expected to prevent methane emissions equivalent to at least six million metric tons of CO2e annually—the equivalent of taking 1.3 million gasoline-powered vehicles off the road—by enabling subscribers to identify and respond to methane leaks quickly.  At its peak, the project will create 35 construction jobs and 266 operational jobs.

 LPO financing will support LongPath in the installment and deployment of up to 24,000 square miles of coverage.