Minerva to focus on climate risk platform climate85
by CM staff
The sale of DRIVER allows Minerva to focus its future software efforts on climate risk reporting and adaptation.
VANCOUVER — Minerva Intelligence entered into a definitive agreement with Bentley Systems, Incorporated for Seequent and The Bentley Subsurface Company, to acquire Minerva’s geology division including the DRIVER software platform, for $1 million.
“DRIVER and our entire geology division has built a world class tool over the past three years, and I am so proud of the team and what they have accomplished,” Scott Tillman, CEO and director, Minerva “Bentleyand the Seequent team are the perfect home to take DRIVER to the next level.”
“Interest in our climate85 platform is growing and we intend to focus on the development of the platform as a valuable tool to address the adverse impacts of climate change globally. Our goal is to arm businesses and communities with the tools they need to be prepared and resilient in face of the growing threats to the planet due to climate change,” said Tillman.
Closing of the sale of the geology division is subject to certain customary conditions precedent, but is not subject to any regulatory or shareholders’ approvals.
The sale of DRIVER allows Minerva to focus its future software efforts on climate risk reporting and adaptation. All proceeds from the sale will be directed to the continued development and marketing of Minerva’s climate85 multi-hazard application programming interface for Canada.
Earlier in the year Minerva announced the launch of the first pan-Canadian API for climate risk data – climate85. This API provides access to climate risk forecasting for heat, humidex, precipitation, and wind until the year 2100.
