Other participants in the round are Houston-based investment firms Artemis Energy Partners, Tupper Lake Partners, and Veritec Ventures. The seed round represents the first outside funding for P6, which maintains an office in Houston.
In conjunction with the seed funding:
- Artemis founder and CEO Bobby Tudor has joined P6’s board of directors. He is an investor in Goose Capital.
- Paal Kibsgaard, managing partner of Veritec, also has joined the P6 board. Kibsgaard is former chairman and CEO of Houston-based oilfield services company Schlumberger, which now does business as SLB.
Joe Berti, CEO of P6, says Kibsgaard’s “unparalleled experience” will benefit his company.
“Veritec’s strategic vision and active support of energy transition solutions align perfectly with our goals, and I am confident their contribution will be instrumental in shaping our future success,” Berti says in a news release.
Berti is former chief product officer of IBM’s sustainability software unit.
P6, founded in 2022, sells enterprise software to businesses in the energy, transportation fuel, and petrochemical sectors. The startup’s software for product lifecycle assessment enables measurement of the product-level intensity of greenhouse gas (GHG) emissions as energy companies try to achieve sustainability goals.
Tudor applauds P6 for helping fossil fuel-anchored companies reduce GHG emissions.
“Energy is the sector that needs a solution like P6 the most,” says Tudor. “P6 has the right approach and is going to make a step-change improvement to how product-level carbon intensity and GHG emissions are tracked today.”
This article originally ran on EnergyCapital.