Transect Closes Funding Round to Accelerate Environmental Workflow
May 12, 2020
SAN ANTONIO - May 12, 2020 - (Newswire.com)
Transect, a B2B SaaS company that partners with energy and other industries to identify and plan for environmental risk, announced it has successfully secured venture capital funding to accelerate growth.
Blue Bear Capital led the round alongside existing investors, including Holt Ventures. Gary Horn, CEO of Horn Solutions, Inc. and return investor, joins the Transect founding team and Vaughn Blake, a partner at Blue Bear Capital, on the board.
“Primary energy consumption is reaching record highs and the need for energy and transportation infrastructure is critical, but unforeseen environmental hurdles can really frustrate progress,” said Robin Laine, CEO of Transect. “Our strategic partnership with Blue Bear Capital, an expert investor in the energy and technology markets, will accelerate growth, open us to new customer relationships, and expand our technical, development, and sales teams.”
Navigating environmental regulations is complicated, especially for oil and gas, renewable, and transmission companies, which have current and prospective assets across the nation. Just a few of the many of the challenges that businesses face include:
- Identifying endangered species habitat,
- Minimizing wetlands impacts and planning for setbacks,
- Requirements around public land ownership, and
- Navigating federal and local permit requirements.
Dealing with these challenges must be done responsibly, but they can slow acquisition, development, and maintenance of valuable infrastructure. Transect provides an online tool that identifies these and other environmental challenges, pinpoints the relevant regulations and permits, and provides site-specific insight on recommendations and timelines to make informed project decisions. Existing customers include several of the country’s largest pipeline and renewable energy infrastructure companies, including Plains All American Pipeline, GE Renewable Energy, and Origis Energy.
Considering the many infrastructure projects proposed by President Trump, like the U.S.-Mexico border wall or his recent $2 trillion infrastructure plan, as well as ongoing uncertainty from regulatory rollbacks, it is more important than ever for the public to have easy access to the best available information about environmental issues. “We are all spending more time working from home right now because of COVID-19. With Transect, businesses can find answers in minutes, from anywhere,” explains Laine.
“Our firm is thrilled to support Transect as they leverage data and automation software to improve efficiencies, reduce costs, and increase accuracy for energy companies navigating the many environmental workstreams their projects require,” said Blake of Blue Bear Capital. “The team’s experience and insight are second-to-none and it’s a privilege to support a company that enables the responsible development of our natural resources.”
The funding round coincides with the launch of Transect Vision, a prospecting tool that helps Transect users find the perfect project site.
About Transect
Founded in San Antonio in 2016, Transect provides solutions for environmental risk for renewable energy, oil and gas, transportation, and real estate customers. The Transect team has over 25 years of experience managing environmental compliance and permitting built into the technology. To learn more about Transect, visit www.transect.com.
About Blue Bear Capital
Blue Bear is a venture capital and growth equity firm driving digital technologies into multibillion-dollar verticals across the energy industry. The team comes together from leading energy private equity firms and features technology expertise from the tech startup world alongside operational leadership from the NASA astronaut corps. Blue Bear's portfolio covers AI, IoT, and cybersecurity technologies, all deployed with leading enterprise customers as they improve the economics of wind, solar, and storage while driving efficiencies across the energy industry. For additional information, visit www.bluebearcap.com and @BlueBearCap.
Media Contact: Robin Laine, (210) 951-0685, [email protected]
Press Release Service by Newswire.com
Original Source: Transect Closes Funding Round to Accelerate Environmental Workflow
More News
MP merchant put Rs 35,000 investment in British war loan in 1917, 109 years later, UK debt office says it cannot find obligation for repayment
A Madhya Pradesh family’s attempt to trace a Rs 35,000 investment made during World War I has hit a fresh hurdle after the UK’s Debt Management Office said it could find no evidence the 1917 Indian War Loan was a British government obligation. The family wants historical records to establish whether the money was ever repaid or settled.
Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands
Chief Minister DK Shivakumar highlighted the importance of collective solutions involving farmers and sugar factories. He mentioned addressing sugarcane growers' demands, such as minimum support price, through discussions. Shivakumar has sought an appointment with the Central government for drought relief. He aims to hold meetings with both farmers and sugar factory owners to resolve conflicts. Ongoing protests by farmers have disrupted the normalcy of life and delayed the crushing season.
Karnataka’s Shivakumar seeks Centre’s intervention on sugarcane growers’ demands
Chief Minister DK Shivakumar highlighted the importance of collective solutions involving farmers and sugar factories. He mentioned addressing sugarcane growers' demands, such as minimum support price, through discussions. Shivakumar has sought an appointment with the Central government for drought relief. He aims to hold meetings with both farmers and sugar factory owners to resolve conflicts. Ongoing protests by farmers have disrupted the normalcy of life and delayed the crushing season.
France’s budget crunch: Four ways Lecornu could break the deadlock
French Prime Minister Sebastien Lecornu's government is preparing for a contentious budget season ahead of elections. The opposition parties are increasing their resistance to proposed deficit-cutting plans. Budget discussions in parliament have faced numerous delays and amendments, complicating passage. If the budget is not approved within 70 days, emergency legislation may be needed. The overall outcome could significantly impact investor confidence and the government's financial strategy.
Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
External Affairs Minister S Jaishankar and UAE’s Sheikh Abdullah bin Zayed Al Nahyan discussed regional concerns in West Asia. Jaishankar emphasized India's commitment to promoting peace through dialogue and diplomacy during their meeting. The Comprehensive Economic Partnership Agreement between India and the UAE has significantly boosted bilateral trade and investment. Both countries continue to enhance cooperation in various sectors, including defense and technology.
Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
External Affairs Minister S Jaishankar and UAE’s Sheikh Abdullah bin Zayed Al Nahyan discussed regional concerns in West Asia. Jaishankar emphasized India's commitment to promoting peace through dialogue and diplomacy during their meeting. The Comprehensive Economic Partnership Agreement between India and the UAE has significantly boosted bilateral trade and investment. Both countries continue to enhance cooperation in various sectors, including defense and technology.
Qualcomm to cut jobs worldwide in performance-focused layoffs, internal memo shows: Reuters reports
Qualcomm will begin notifying employees of job cuts in November as a part of its annual reviews. CEO Cristiano Amon mentioned the aim is to enhance the company's performance culture. The company faces challenges due to declining consumer electronics sales and soaring memory prices impacting demand. Qualcomm forecasts a shift in revenue sources towards non-handset businesses in the coming years.
Gautam Adani meets Gurudevshri Rakeshji in Dharampur, says Adani Foundation keen to partner with mission on Grassroots Projects
Gautam Adani visited Shrimad Rajchandra Mission Dharampur in Gujarat along with his wife Dr. Priti Adani. They met the Mission's founder, Gurudevshri Rakeshji, to discuss the principles of seva and sadhana. During the visit, Adani expressed interest in collaborating with the Mission on various initiatives and praised the volunteers' dedication.
Gautam Adani meets Gurudevshri Rakeshji in Dharampur, says Adani Foundation keen to partner with mission on Grassroots Projects
Gautam Adani visited Shrimad Rajchandra Mission Dharampur in Gujarat along with his wife Dr. Priti Adani. They met the Mission's founder, Gurudevshri Rakeshji, to discuss the principles of seva and sadhana. During the visit, Adani expressed interest in collaborating with the Mission on various initiatives and praised the volunteers' dedication.
“I’m tired of spreading lies”: BJP shares viral video allegedly showing Rahul Gandhi on flight to Vietnam, Congress hits back
On Tuesday, the Bharatiya Janata Party escalated its attack on Rahul Gandhi, accusing him of taking a trip to Vietnam amid important political discussions. Meanwhile, Congress leader Sandeep Dikshit stood up for Gandhi, contrasting his foreign engagements with Prime Minister’s travels during parliamentary sessions. The opposition, meanwhile, is calling for the resignation of Chief Election Commissioner Gyanesh Kumar, alleging procedural irregularities in the electoral roll revision process.
AstraZeneca Pharma set to move its registered office to Maharashtra, from Karnataka
Last week, it unveiled a new corporate office in Mumbai, a relocation to be closer to health and financial ecosystems
Before 1850, Americans grew Dyer’s woad for blue dye; in the Great Basin, one infestation later grew from 12,000 to 150,000 acres in eight years
Dyer's woad, once used for blue dye, has become an invasive species in the American West. This plant produces a high number of seeds and thrives in disturbed soils, making it hard to control. Control efforts require extensive knowledge of its lifecycle and persistent manual and chemical treatment. A recent study highlighted its ecological threat to native plants and livestock forage in Northern Utah.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.