Momentick Unveils First Emissions Risk Management Service

As global warming intensifies, the world is going to hear a lot more about companies such as Momentick.

Momentick performs a role of growing international importance, using satellites to monitor methane and other greenhouse gas emissions around the world.

The group, based in Israel, describes its business as “emissions intelligence.” It said on Tuesday it has raised an additional $5 million to enter the insurance sector with an emphasis on emissions risk management.

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The funding was led by FinTLV Ventures with participation from Menomadin Foundation. It said the investment and its entry into the insurance sector comes after a year of intensive collaboration and a proof of concept with Sompo Japan.

Momentick provides precise, autonomous detection and quantification of methane on a global scale.

Using proprietary algorithms applied to satellite imagery, the platform delivers insights — ranging from targeted monitoring of specific facilities to expansive coverage of wide geographical areas, including entire pipeline networks.

Momentick aims to address the challenges of emissions-related risks for energy companies while offering new tools for monitoring emissions and evaluating the risks associated with them.

The group said it was proud to announce, in conjunction with a major global insurance company, first global Emissions Risk Management service, saying it is “an historic milestone in addressing climate change risks and reshaping the insurance landscape for energy companies.”

The group’s satellite-based emissions monitoring technology provides real-time data for risk analysis and policy design, which Momentick says will create a distinctive insurance framework, assessing energy companies based on their emissions risk.

It seeks to address a critical gap in the emissions landscape — reliable, comprehensive data for risk assessment.

With insufficient ground-level data, Momentick’s cutting-edge satellite-based emissions monitoring technology ensures global coverage and precision in policy underwriting.

‘Helping companies grasp & mitigate their emissions’

Momentick provides critical data that enables the development of improved greenhouse gas detection services and insurance products.

By detecting methane and other greenhouse gases on a global scale, this service allows companies to better understand their emissions profile and take proactive steps to mitigate their greenhouse gas emissions.

“Insurance companies have long struggled with the lack of reliable data to accurately assess the emissions-related risks of energy companies,” Daniel Kashmir, CEO and co-founder of Momentick said.

“Our technology fills this critical gap by providing precise emissions data on a global scale. This represents a ground-breaking step in equipping insurers with the tools they need to evaluate emissions risk and design policies that reflect the realities of a changing climate.”

Gil Arazi, a managing partner of FinTLV, said: “FinTLV Ventures is excited to partner with Momentick in their mission to accelerate the transition to a net zero future – by making all greenhouse gas emissions visible and actionable.

“Methane emissions represent a critical challenge, not only for the environment but also for the systemic risks they pose to global industries, including insurance,” he said.

“Momentick’s groundbreaking technology has the potential to significantly reduce methane leaks and create new opportunities for innovative insurance products. By addressing these risks proactively, we can better develop more resilient and sustainable insurance solutions.”

Empowering industries

Dr Merav Galili, CEO of The Menomadin Foundation, said: “This investment represents a pivotal 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 equipping insurers and energy companies with reliable, actionable data, we are empowering industries to take meaningful steps toward a net-zero future.”

Momentick was founded five years ago by Kashmir, chief operating officer Lev Oren and Chief Scientist Dr Ophir Almog.

It uses a diverse range of multi-satellite images, to do point source monitoring of specific facilities and assets, large-scale coverage of midstream operations, extensive pipelines, and entire regions or countries, as well as comprehensive company-wide assessments for Scope 1 emissions to support risk management and ESG reporting.