Emissions Data Firm Bags $6.5MM in Seed Funding

Emissions intelligence firm Momentick Ltd. has raised $6.5 million in seed funding to expand its market reach and to further develop their emission intelligence algorithm.

Momentick secured the funding from Chartered Group Japan and TAU Ventures, as well as private investors, the company said in a news release Thursday.

Momentick CEO and co-founder Daniel Kashmir said the company’s mission is “to provide an emissions intelligence platform for countries, industries, and companies in order to demonstrate social responsibility and achieve their sustainability goals”.

“The goal to reduce carbon footprint and achieve international climate targets underscores the urgency of methane emissions monitoring and reporting. Momentick is excited to reveal its technology to the world, working with customers on Greenhouse Gas emissions intelligence, on our path to reach the global aim of 2030 net zero goal,” Kashmir added.

Tel Aviv-based company Momentick said that quantities of undetected methane emissions remain unknown, with approximately 630,000 leaks in U.S. natural gas distribution pipelines. The emissions primarily stem from oil and gas assets.

In the USA alone, less than 10 percent of gathering and transmission pipeline undergo regular leak inspections, contributing to methane leaks estimated to be 60 percent higher than official U.S. Environmental Protection Agency (EPA) figures, the company said.

“The lack of accurate data hampers efforts by industry stakeholders, governments, international bodies, and financial institutions to address these emissions effectively,” Momentick added.

Founded in 2022, Momentick provides accurate and autonomous capabilities for identifying and quantifying methane and other greenhouse gas (GHG) emissions on a planetary scale. The company said it delivers precise, autonomous and near real-time monitoring for assets on and offshore, historical data for any given location, trigger alerts for new emissions, and easily exported reporting. 

Momentick aims to improve the gas industry’s reporting by detecting near-real time leaks, which has been an issue for the energy sector in the past decades, according to the company’s website,

In the past months, monitoring methane has been an area of interest in the energy industry. In February, the Environmental Defense Fund (EDF) partnered with Google for MethaneSAT, a new satellite that will map, measure, and track methane globally.  With the energy transition underway globally, companies have been increasingly focusing on using satellite data to obtain better data on emissions, according to an earlier report.

Momentick describes itself as an emissions intelligence company providing a one-stop shop emissions data platform by delivering accurate and autonomous capabilities for identifying and quantifying methane and other GHG emissions on a global scale.

Drawing from a wide array of imagery such as drone images, aerial, and multi-satellite images, the company offers pinpoint monitoring for specific facilities/assets, large-area monitoring, and company monitoring for Scope 1 emissions.

To contact the author, email rocky.teodoro@rigzone.com