Emissions intelligence agency Momentick Ltd. has raised $6.5 million in seed funding to increase its market attain and to additional develop their emission intelligence algorithm.
Momentick secured the funding from Chartered Group Japan and TAU Ventures, in addition to non-public traders, the corporate mentioned in a information launch Thursday.
Momentick CEO and co-founder Daniel Kashmir mentioned the corporate’s mission is “to offer an emissions intelligence platform for nations, industries, and firms so as to exhibit social duty and obtain their sustainability targets”.
“The purpose to cut back carbon footprint and obtain worldwide local weather targets underscores the urgency of methane emissions monitoring and reporting. Momentick is happy to disclose its expertise to the world, working with clients on Greenhouse Gasoline emissions intelligence, on our path to succeed in the worldwide purpose of 2030 internet zero purpose,” Kashmir added.
Tel Aviv-based firm Momentick mentioned that portions of undetected methane emissions stay unknown, with roughly 630,000 leaks in U.S. pure fuel distribution pipelines. The emissions primarily stem from oil and fuel belongings.
Within the USA alone, lower than 10 % of gathering and transmission pipeline bear common leak inspections, contributing to methane leaks estimated to be 60 % greater than official U.S. Environmental Safety Company (EPA) figures, the corporate mentioned.
“The shortage of correct knowledge hampers efforts by trade stakeholders, governments, worldwide our bodies, and monetary establishments to handle these emissions successfully,” Momentick added.
Based in 2022, Momentick offers correct and autonomous capabilities for figuring out and quantifying methane and different greenhouse fuel (GHG) emissions on a planetary scale. The corporate mentioned it delivers exact, autonomous and close to real-time monitoring for belongings on and offshore, historic knowledge for any given location, set off alerts for brand new emissions, and simply exported reporting.
Momentick goals to enhance the fuel trade’s reporting by detecting near-real time leaks, which has been a problem for the vitality sector previously many years, in response to the corporate’s web site,
Prior to now months, monitoring methane has been an space of curiosity within the vitality trade. In February, the Environmental Protection Fund (EDF) partnered with Google for MethaneSAT, a brand new satellite tv for pc that may map, measure, and observe methane globally. With the vitality transition underway globally, firms have been more and more specializing in utilizing satellite tv for pc knowledge to acquire higher knowledge on emissions, in response to an earlier report.
Momentick describes itself as an emissions intelligence firm offering a one-stop store emissions knowledge platform by delivering correct and autonomous capabilities for figuring out and quantifying methane and different GHG emissions on a world scale.
Drawing from a wide selection of images reminiscent of drone photographs, aerial, and multi-satellite photographs, the corporate gives pinpoint monitoring for particular amenities/belongings, large-area monitoring, and firm monitoring for Scope 1 emissions.
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