As global warming intensifies, the world will hear more about companies like Momentick.
momentique It plays an increasingly important international role in using satellites to monitor methane and other greenhouse gas emissions around the world.
The organization, based in Israel, describes its business as “emissions intelligence.” The company said on Tuesday it had raised an additional $5 million to enter the insurance industry and focus on emissions risk management.
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The funding was led by FinTLV Ventures, with participation from the Menomadin Foundation. The investment and its entry into the insurance industry follows a year of close collaboration and proof of concept, the company said. Japan property insurance.
Momentick delivers precise, autonomous detection and quantification Methane on a global scale.
The platform uses proprietary algorithms applied to satellite imagery to provide insights—from targeted monitoring of specific facilities to broad coverage over broad geographic areas, including entire pipeline networks.
Momentick aims to solve the challenges of emissions-related risks for energy companies while providing new tools to monitor emissions and assess the risks associated with them.
The group said it was proud to launch the first global emissions risk management service in partnership with a major global insurance company, calling it a “historic milestone in addressing climate change risks and reshaping the insurance landscape for energy companies.”
The group’s satellite-based emissions monitoring technology provides instant data for risk analysis and policy design, which Momentick says will create a unique insurance framework that assesses energy companies based on their emissions risks.
It aims to address a key gap in the emissions sector – reliable, comprehensive data for risk assessment.
Momentick's cutting-edge satellite emissions monitoring technology ensures global coverage and accuracy of policy underwriting where ground-based data is scarce.
“Helping companies capture and reduce emissions”
Momentick provides critical data to help develop improved greenhouse gas detection services and insurance products.
By detecting methane and other greenhouse gases globally, the service enables companies to better understand their emissions and take proactive steps to reduce them.
“Insurers have long struggled with a lack of reliable data to accurately assess energy companies’ emissions-related risks,” said Daniel Kashmir, CEO and co-founder of Momentick.
“Our technology fills this critical gap by providing accurate emissions data on a global scale. This is a breakthrough step in providing insurers with the tools they need to assess emissions risks and design policies that reflect the reality of climate change.
FinTLV Managing Partner Gil Arazi said: “FinTLV Ventures is pleased to partner with Momentick on its mission to accelerate the transition to a net-zero future by making all greenhouse gas emissions visible and actionable.
“Methane emissions not only pose a serious challenge to the environment, but also pose systemic risks to global industries such as the insurance industry,” he said.
“Momentick’s breakthrough technology has the potential to significantly reduce methane leaks and create new opportunities for innovative insurance products. By proactively addressing these risks, we can better develop more resilient and sustainable insurance solutions.
Enabling industries
Merav Galili, CEO of the Menomadin Foundation, said: “This investment represents a critical moment in addressing climate risks and advancing sustainable solutions.
“Momentick's innovative approach to emissions monitoring and risk management aligns perfectly with our mission to drive sustainability. By providing insurance companies and energy companies with reliable, actionable data, we are helping industries take meaningful steps towards A net zero emissions future.
Momentick was founded five years ago by Kashmir, Chief Operating Officer Lev Oren and Chief Scientist Dr. Ophir Almog.
It leverages a variety of multi-satellite imagery to provide point source monitoring of specific facilities and assets, broad coverage of midstream operations, broad pipelines and entire regions or countries, and comprehensive company-wide assessment of Scope 1 emissions to support risk Stewardship and ESG reporting.
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