Agreement to Expand the Growth of Surface and Subsurface CCUS Monitoring Solutions for the CO2 Industry and Beyond.
MicroSeismic Inc., the global leading energy & environmental service monitoring company along with continuous IoT monitoring provider EverAware LLC have executed a Memorandum of Understanding (MOU) with the Climate Change Response Research Division of the Korea Institute of Geoscience and Mineral Resources (KIGAM) to pursue technological cooperation associated with Carbon Capture Utilization and Storage (CCUS) in the U.S. and Korea.
The exclusive MOU establishes a collaboration that provides for the exchange of scientific and technical knowledge and the augmentation of scientific and technical capabilities of each party related to CCS (Carbon Capture and Storage). It is anticipated that the Parties will focus on areas of cooperation that include technologies associated with 1) subsurface measurement, monitoring, and verification of CO2 placement, 2) surface monitoring of atmosphere, soil, and groundwater, and 3) the use of Artificial Intelligence analytics to help in the evaluation of the big data collected during continuous monitoring efforts.
Dr. Peter Duncan, CEO & Founder of MicroSeismic (MSI) said, “We are honored to work with the highly distinguished KIGAM organization and look forward to sharing our collective knowledge to advance CCS and sustainability solutions.” Douglas Nester, CEO and co-founder of EverAware added “Overcoming the many complex challenges associated with CCS requires the formation of collaborations throughout the entire CCS value chain. Our agreement with KIGAM allows us to directly incorporate technology from Korea’s leading geoscience research institute into MSI and EverAware’s ongoing operations to develop advanced solutions that better meet the needs of the CCS industry and global sustainability.”
The Parties are currently identifying project opportunities within the U.S. and Southeast Asia and expect to begin their cooperation efforts by the fall of 2023.
About Korea Institute of Geoscience and Mineral Resources (KIGAM)
KIGAM is a world-leading Geoscience research institute that seeks to lead future earth research for global prosperity and sustainability. To achieve carbon neutrality, the Climate Change Response Research Division efficiently responds to climate change based on CO2 underground storage and mineral carbonization. To predict the impact of future climate change on the Korean Peninsula’s surface environment, the research studies the quaternary environment change to establish a response strategy.
About MicroSeismic Inc.
We Listen. We Protect. We Care.
MicroSeismic is the world leader in passive seismic services to address a wide spectrum of problems relevant to the oil field and beyond. While the Company continues to support the fracking industry with FracRx®, it has created CO2SeQure® for supporting the CCUS industry, KarstAlert® for the early identification of sinkholes, and MicroThermal Energy for supporting the geothermal energy industry.
About EverAware LLC
EverAware (previously ShowMyWell LLC) is a leading provider of continuous energy and environment monitoring solutions using IoT-based sensors, meters, gateways, advanced data analytics, and the cloud for detecting anomalous data patterns indicative of performance issues, imminent equipment failures, or fugitive leakage of emissions or liquids. The Company’s real-time detection of potential problems and threats allows for taking immediate corrective actions to minimize downtime, optimize efficiencies, reduce operating costs, and mitigate damage to the environment.