Onboard Dynamics signs agreement with BP Energy Partners

By BP Energy Partners | October 12, 2021

Onboard Dynamics Inc., a leading climate-tech provider of unique, patented, mobile natural gas pipeline evacuation and vehicle refueling compression technology and equipment, on Oct. 5 announced the signing of an investment agreement between Onboard Dynamics and BP Energy Partners LLC. The equity investment from BPEP provides Onboard Dynamics capital to scale its products and service offerings.

Across its series of patented products, Onboard Dynamics manufactures, sells, leases, and provides turnkey service to utilities, local distribution companies (LDCs) and natural gas pipeline operators for blowdown, evacuation, and routine maintenance. Onboard Dynamics' products allow customers to conduct best practices during natural gas pipeline operations, recovery of stranded natural gas from various sources, and natural gas vehicle fleet refueling.

Increased demand for reliable and cost-effective solutions to combat methane leaks from pipelines led to the launch of Onboard Dynamics latest product, the GoVAC Flex.

The GoVAC Flex is a pipeline evacuation system that provides natural gas pipeline operators a tool to minimize and mitigate methane and greenhouse gas (GHG) emissions during pipeline maintenance, repair, and replacement. Due to its self-contained design, the GoVAC Flex has lower full-cycle emissions than competing evacuation equipment since it is fueled by pipeline natural gas recovered during the evacuation process, eliminating the need for external fuel (e.g., diesel) or electrical power. The GoVAC Flex can draw pipeline pressures down to near zero pounds per square inch (psig) and can evacuate natural gas into an adjoining pipeline or compress it into a tube trailer or storage tank for injection or use elsewhere. The system is mobile, flexible in siting, and in addition to pipeline gas, can also utilize, or transport stranded natural gas, responsibly sourced gas (RSG), biomethane or renewable (RNG) for best use.

"This new exciting partnership with BPEP and the synergies with its portfolio companies will allow us to meet the demand of this rapidly growing market", says Rita Hansen, CEO of Onboard Dynamics, "our new product will help customers receive economic value while achieving their environmental and sustainability goals through reduced diesel consumption and the elimination of venting and flaring practices."

"We are pleased to partner with Rita and the Onboard Dynamics' team to aid the natural gas industry in decarbonization and demethanization" states Cole Robertson, managing director at BPEP. "The technology allows pipeline operators to reduce methane and GHG emissions during routine operations."

The transaction is expected to close in October 2021.