Aeromon

Established: 2014
Climate Fund investment decision: 5/2022
Funding target: scale-up of the reporting system and development of automation
Funding: 2.4M€ capital loan, which includes a conversion right
Main anticipated impact: enabling indirect emissions reduction via company’s customers. Theoretical cumulative emissions reduction potential over ten years is estimated to be 2,3 MtCO2-eq.

The methane emissions of industry and landfills are a major climate challenge, constituting up to 5% of global GHG emissions. Most fugitive emissions are caused by the excavation, transport, storage and processing of fossil fuels. Fugitive emissions harmful to the climate and human health are generated by industrial processes, for example from organic compounds evaporating through leaky valves. Landfill operators are also seeking to minimise the amount of detrimental greenhouse gases released into the atmosphere.

Aeromon’s solution can locate and quantify emissions of several gaseous compounds, particulates and noise. The results are developed into a report that gives the customer extensive information about their fugitive emissions and their sources, helping them to prevent such emissions.

The Climate Fund’s investment decisions are guided by a three-tiered set of criteria. The preconditions for funding are a credible plan for at least self-sustainable business, verifiable added value from the state’s contribution to the project’s overall funding, and alignment with the six environmental objectives of the EU’s sustainable investment network, i.e. the “do no significant harm” principle.  Other aspects in the investment decision include emission reductions and other impact, such as business potential.

The Climate Fund’s €2.4 million capital loan will be allocated to the scale-up of the reporting system and to the development of automation. The interest on the Climate Fund’s capital loan is priced at the market rate  and the capital loan also includes a conversion right.

The emissions-reduction potential created by Aeromon has been estimated based on the average leakage of landfills and biogas and natural gas plants. Its ten-year theoretical cumulative emissions-reduction potential is estimated at 2.3 MtCO2-eq. The emissions reductions are indirect, that is, they depend on the corrective measures taken by the company’s customers on the basis of the data provided by Aeromon. Aeromon conducts its research and development in Finland, and the investment will strengthen Finnish technological expertise.