We’ve found the Development Bank of Wales to be one of those important partners for us.
QLM has developed a new type of LiDAR (laser imaging, detection, and ranging) camera based on quantum technology that can see and accurately quantify greenhouse gas (GHG) emissions, giving the world the eyes to see emissions at their source.
Beyond emissions monitoring for the oil and gas market, the QLM solution is well-suited for use in other GHG-intensive applications such as in biomethane production, at landfills, and in agricultural and wastewater operations.
QLM’s work will support international ambitions to achieve net-zero emissions by 2050, safeguarding our environment and planet for future generations.
Xiao Ai, Chief Technical Officer - QLM was conceived by Xiao as he carried out postgraduate research into single photon LiDAR gas detection at the University of Bristol. Xiao realised that his research could help organisations worldwide to achieve Net Zero through mitigation of greenhouse gas emissions.
The university’s Quantum Technology Enterprise Centre (QTEC) helped Xiao form QLM to explore the commercialisation of his research.
Dr Murray Reed, Chief Executive - Murray was assigned as Xiao’s business mentor by QTEC. Hehas thirty years’ experience in commercialising cutting-edge technology in Silicon Valley. Murray became CEO of QLM in 2019.
Working with us
QLM’s pre-seed investment came from Britbots, a specialist robotics, artificial intelligence, and automation business investor. Britbots had worked successfully with us previously, so when it was time for its seed round, QLM naturally got introduced to us.
The seed round, which totalled £3.1 million, was used to drive the expansion of QLM’s technical and commercial capability, secure industrial validation of the unique quantum Tunable Diode Lidar (TDLidar) technique and provide a roadmap to commercial readiness of the revolutionary quantum gas camera.
The investment was led by the Green Angel Syndicate and included the Enterprise100 syndicate, the Newable Venture Fund, the Development Bank of Wales, the Bristol Private Equity Club, the Britbots Seed Fund, and Houston-based oilfield technology solutions provider ChampionX.
Following this funding round, QLM has made the strategic decision to move to South Wales and take advantage of the region’s compound semiconductor cluster.
- Date of most recent funding round: August 2022
- Size: Undisclosed
- The fund: Wales Flexible Investment Fund
In 2022, we made a second investment in QLM. The Series-A funding round and signing of a Collaboration Agreement with SLB, formerly known as Schlumberger, is helping QLM to scale up their solution and grow rapidly from their base in Wales.
What people are saying
The Development Bank of Wales really understood the potential for our technology and how much it was based on Cardiff expertise, particularly the compound semiconductor expertise that’s in the south of Wales. It’s absolutely essential as a start-up to have the right partners who will come with you on the journey. We’ve found the Development Bank of Wales to be one of those important partners for us.
The funding and strategic relationship with our new lead investor SLB, formerly known as Schlumberger, and expanded backing of initial and new investors will allow us to scale our manufacturing, enabling significant cost reduction, as we launch our solution into the various GHG-intensive industries and markets.