Collaboration between Japanese insurance coverage large Sompo and Israeli startup Momentick will work to chop greenhouse fuel emissions from Japanese vitality manufacturing sources, rigs and fuel pipelines. Momentick has developed an answer for figuring out and measuring greenhouse fuel emissions via satellite tv for pc photos.
The Japanese authorities is concerned with regulating its coverage on this subject, amongst different issues, for Japanese owned rigs and fuel pipelines positioned past the borders of Japanese waters. Sompo, which is one among Japan’s three greatest insurance coverage firms, and which endeavors to collaborate with Israeli know-how firms, will make use of Momentick’s know-how, which might additionally develop into a part of Sompo’s threat administration companies.
In 2018, Sompo arrange its innovation heart in Tel Aviv (it has two others in Tokyo and Silicon Valley), which is led by Yinnon Dolev. The middle leads industrial collaborations with Israeli startup firms and is initiating the present collaboration with Momentick, in cooperation with Sompo’s enterprise unit.
Sompo has begun working with Momentick, and the 2 firms are at the moment performing an illustration of the Israeli firm’s know-how, stressing Momentick’s skill to detect emissions of methane, one of many fundamental greenhouse gases, via satellite tv for pc photos. Momentick has confirmed its skill to supply a exact evaluation after a comparability was made between it and an evaluation performed by an lively sensor put in on an plane of an American group referred to as Carbon Mapper, which scanned particular areas within the heart of the US. It turned clear that the Israeli firm had reached the identical outcomes as Carbon Mapper.
On this demonstration, Momentick analyzed the quantity and areas of methane within the ambiance with software program that makes use of hyperspectral evaluation and algorithms based mostly on satellite tv for pc photos. The outcomes and insights shall be supplied to Sompo and its subsidiary Sompo Danger Administration, who will collectively examine the potential for technical verification, service provision and the event of insurance coverage merchandise. For the aim of technical verification, knowledge obtained from the Greenhouse Gases Observer (GOSAT) satellite tv for pc, which is the primary satellite tv for pc on the planet devoted to monitoring carbon dioxide and methane concentrations from house, may also be used. The info evaluation shall be carried out in cooperation with the Local weather Change Statement Analysis Technique Workplace of the Ministry of the Atmosphere and the Satellite tv for pc Statement Heart of the Nationwide Institute for Environmental Research in Japan. Sompo may provide Momentick’s companies as a part of the group’s threat administration companies (Sompo Danger Administration).
Momentick was based in 2020 by Daniel Kashmir (CEO), Lev Oren (COO), and Ophir Almog (Chief Scientist). The corporate has developed an answer that gives exact and autonomous capabilities to determine and measure methane emissions and the opposite greenhouse gases on a worldwide scale. The corporate makes use of satellite tv for pc photos that it buys, and based mostly on them has the experience to precisely determine the placement and quantity of greenhouse fuel emissions, with out having to own its personal satellites. At current, the corporate has the flexibility to detect methane fuel and inside a yr it expects to have the ability to detect carbon dioxide and nitrous oxide emissions.
The corporate presents three fundamental companies: firstly, correct monitoring for particular amenities/property (similar to factories or rigs); secondly, monitoring massive areas (similar to massive areas or lengthy pipelines); and thirdly, monitoring firms’ emissions with a purpose to present them with ESG (Environmental, Social, and Governance) knowledge. The corporate’s goal is to supply a sensible platform for analyzing emissions primarily for the vitality business, waste administration firms, monetary firms and insurance coverage firms.
Momentick has to this point raised $7 million in seed financing rounds. Traders within the firm embrace the Japanese enterprise capital fund Chartered Group Japan and the enterprise capital fund of Tel Aviv College, TAU Ventures.
Sompo Digital Lab Israel CEO Yinnon Dolev mentioned, “We’re very glad to steer this partnership between Sompo in Japan and Momentick in Israel. We see this partnership as creating worth in areas that have an effect on the atmosphere, in a means that enhances our insurance coverage insurance policies. Additionally, Japan’s becoming a member of the worldwide battle towards greenhouse fuel emissions creates a chance for big investments in applied sciences that help the battle to enhance the standard of the atmosphere and the struggle towards international warming. I’m assured that the Japanese market will discover that there are fairly a number of Israeli know-how firms that can have the ability to help it on this course of.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 2, 2024.
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