We're honored to have been recognized with the 2024 Global Tech Award in the Climate Technology category for our work in emissions monitoring and detection. This acknowledgment reflects the growing importance of addressing greenhouse gas emissions through technological innovation.
The Challenge We're Addressing
When we founded Momentick, we identified a critical gap in environmental monitoring: methane emissions from oil and gas infrastructure were largely invisible and underreported. In the United States alone, out of 300,000 oil and gas wells and over 2 million miles of pipelines, fewer than 10% undergo regular leak inspections, with methane leaks estimated to be 60% higher than EPA figures.
Approximately 630,000 leaks in U.S. natural gas distribution pipelines contribute to global warming and substantial revenue loss each year.
Our Innovative Solution
Our team, led by CEO Daniel Kashmir, COO Lev Oren, and Chief Scientist Dr. Ophir Almog, developed a groundbreaking solution that leverages advanced satellite technology and proprietary algorithms to detect and quantify methane emissions on a planetary scale. What sets our platform apart is its ability to provide both precise facility-level monitoring and comprehensive wide-area surveillance across entire regions and pipeline networks.
The Journey to Innovation
Our path to this achievement began in 2022 when our founding team combined their expertise in AI and computer vision to develop our core algorithm. We faced significant challenges along the way, particularly in ensuring the accuracy of our satellite data across diverse environmental conditions. Through extensive field validations and advanced machine learning models, we've created a solution that delivers consistent, reliable results our clients can trust.
Impact and Future Vision
Methane's impact on climate change is significant, as it traps heat 84 times more effectively than CO₂ and accounts for around 21% of total GHG emissions. The Global Methane Pledge aims for a 30% reduction in methane emissions by 2030, which could reduce warming by 0.2 degrees by 2050.
Our technology plays a crucial role in achieving this goal by providing the accurate measurements needed to drive meaningful change. As we often say at Momentick, "If you can't measure it, you can't reduce it."
Looking Ahead
We're particularly excited about expanding our capabilities beyond methane to monitor a broader spectrum of harmful gases. While methane remains a critical focus, we recognize the importance of comprehensive emissions monitoring for effective climate action. Our highly adaptable algorithm serves as the foundation for this expansion, enabling us to contribute more meaningfully to global emissions reduction efforts.
A Word of Thanks
This award is a testament to the dedication of our team and the trust our clients place in us. We're grateful to the Global Tech Awards for this honor and excited about the opportunity it provides to showcase our work to a broader audience.
As we continue to innovate and expand our capabilities, we remain committed to our core mission: enabling industries, governments, and organizations worldwide to detect, measure, and reduce their emissions effectively. Together, we can make a meaningful impact in the fight against climate change.
Read the full interview with the Global Tech Awards here..