The latest in methane mapping technology

Saving millions in estimated IRA penalties

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Project details
Project name:
Iris Edge pilot trial
Client name:
Multinational corporation
Newfoundland, Canada
Key stats
Identify to repair within 24 hours:
Our technology was able to identify an anomaly that previously had not been spotted, analyse the location enabling our client to initiate a repair overnight within 24 hours.
3D model of the asset is the most detailed on the market:
Unlike others on the market, Iris Edge can locate a methane leak to flange level accuracy saving clients hours in problem-solving and time to locate leaks.
$ millions saved:
Our US clients could face large tax fines under the Inflation Reduction Act (IRA) and other global policies that direct government spending toward reducing carbon emissions based on the size and age of facilities. For the operators of oil and gas assets, this means much stricter fines and penalties for methane leaks. Our software can detect and quantify methane leaks reducing our client’s tax implications.

In our first-ever pilot study, the Iris Edge robots were able to provide tangible benefits to our clients.

Saving our clients’ money today

We can reduce potential tax implications by giving you eyes on your facility or asset. Using either our robots, drone or handheld hardware we are able to survey the facility or asset and record the exact number of methane leaks rather than an estimate.

Audible findings reduce tax implications to zero

This gives our clients the ability to present this data to the regulatory authorities, reducing their tax implications. By routinely surveying their asset, maintaining and repairing leaks as well as utilising predictive maintenance, costs could be reduced to zero.

Saving our clients millions

For some of our clients with multiple assets or facilities, or particularly large facilities, the tax implications of the IRA could be in the millions so being able to reduce this to zero is revolutionary.

Iris Edge was able to identify 25% more leaks than previously found.

From detection to repair overnight

The operator could visualize their asset remotely and could bring precise information to their maintenance team who were able to repair it overnight.

Up to 80% labour cost savings utilising on site personnel

The pilot study provided additional information on which hardware performed the best in different situations. As our software is so user-intuitive, you do not need to be qualified or trained to use it, requiring fewer resources. It also requires less time for the operator, so they can focus efforts on priority work. For offshore assets, this also decreases persons on board associated costs.

Wood is unique in its offering.

  • We are the quickest and cheapest on the market – Iris Edge generates 3D models and readings with detail, providing the ability to integrate sensors on autonomous robots.
  • As the dedicated engineering, procurement, construction management (EPCm) contractor for many of our existing clients, Wood can provide this service in addition to routine maintenance activities.

See how you can implement Iris Edge

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