More climate tech entrepreneurs are using artificial intelligence (AI) to track and stop carbon, methane, and other greenhouse gas emissions (GHG) from continued pollution. Satellites have become more accessible than ever, and many climate scientists use their incredible cameras and points of view to find possible gas leaks. That’s exactly what Momentick, a “methane emissions intelligence company,” shared with The Business Download (TBD).
The company shared a press release with TBD about its $6.5 million seeding funding round. The funding was led by Chartered Group Japan, TAU Ventures, and private capital. The money will help update the company’s emission-tracking algorithm.
“Momentick’s mission is to provide a one-stop-shop emissions intelligence platform for countries, industries, and companies in order to demonstrate social responsibility and achieve their sustainability goals,” Daniel Kashmir, CEO and co-founder, said in the press release.
Momentick’s technology uses satellite images to find and locate methane emissions. Geographical coordinates are monitored and compared with previous measurements.
All data is exported into a PDF for users to assess the problem and find the best solution for methane leaks. This technology may have an impact on the American market, where multiple private energy companies and nonprofit organizations are sealing up old oil wells to stop GHG emissions.
Photo Courtesy Brendan O’Donnell
Most methane emissions are human-caused. A report by PIRG says the United States experienced nearly 2,600 methane leaks between 2010 and 2021, most coming from gas terminals and natural gas heating systems. PIRG said leaks have cost almost $4 billion in damages since 2010, and it is believed there is a gas pipeline incident in the U.S. every 40 hours.
There are many causes of methane leaks. In California in 2010, a gas terminal failure in San Bruno caused an explosion on the scale of a 1.1 magnitude earthquake. Other examples include an apartment building in Silver Spring, Maryland, that was destroyed in a methane explosion in 2022.
These incidents are why Momentick sees the U.S. as a prime market for its technology.
Momentick believes a reduction in emissions could be stopped with simple routine checks. According to the company, a monthly inspection of gas lines and facilities could cause an 80% reduction.
Photo Courtesy Anne Nygård
However, there hasn’t been a technology like this before. There’s a lot of regulatory tape to jump through to utilize more drones and satellite images, so it’s unclear when we will see this tech in action. Momentick said in their seed funding release that there is “a surge in demand” for their services.
The technology can monitor leaks and color-code their severity. The system can be applied to oil and gas structures, waste management, and the financial sector. Anything that makes finding and ending leaks will lead to a better atmosphere and could save businesses thousands in damage costs.
“The goal to reduce carbon footprint and achieve international climate targets underscores the urgency of methane emissions monitoring and reporting,” Kashmir said. “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.”
