Momentick Raises $5M to Enter the Insurance Industry with Emissions Risk Management Solutions

Momentick Raises $5M to Enter the Insurance Industry with Emissions Risk Management Solutions

VoM News Desk | January 15, 2025 | 04:43 PM IST | Climate & Environment, World | Follow on Google News

Momentick Raises $5M to Enter the Insurance Industry with Emissions Risk Management Solutions

Momentick, an emissions intelligence company, announces that it has raised an additional $5M to enter the insurance world with an emphasis on emissions risk management. The funding was led by FinTLV Ventures with participation from Menomadin Foundation. This investment and entrance into the insurance realm comes following a year of intensive collaboration and a PoC 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. In conjunction with a major global insurance company, Momentick is proud to announce the first Emissions Risk Management service, globally. This marks a historic milestone in addressing climate change risks and reshaping the insurance landscape for energy companies. 

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

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This pioneering approach addresses 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. Momentick provides critical data that enables the development of improved greenhouse gas detection services and insurance products. By detecting methane and other greenhouse gasses 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,” said Daniel Kashmir, CEO and Co-Founder of Momentick. “Our technology fills this critical gap by providing precise emissions data on a global scale. This represents a groundbreaking step in equipping insurers with the tools they need to evaluate emissions risk and design policies that reflect the realities of a changing climate.”

“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,” said Gil Arazi, Managing Partner of FinTLV. “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.”

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“This investment represents a pivotal moment in addressing climate risks and advancing sustainable solutions,” said Dr. Merav Galili, CEO of The Menomadin Foundation. “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.”

About Momentick

Momentick is an emissions intelligence company delivering a unified emissions data platform that provides precise, autonomous solutions for detecting and quantifying methane and other greenhouse gas emissions worldwide. By harnessing a diverse range of multi-satellite imagery, Momentick enables 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.

Founded in 2020 by Daniel Kashmir, CEO; Lev Oren, COO; Dr. Ophir Almog, Chief Scientist;
Dr. Adam Eshel, VP R&D.  

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