< Previouseach other in our engineering program at Simon Fraser University. Here, we worked on a variety of projects, including building and designing an electric race car from scratch. From there, we started a mental health company, trying to commercialize neurostimulation devices, and soon pivoted to Moment Energy because we realized the skillset and passion for electric vehicles and renewable energy was something we all had in common. Th at’s how we got started in January 2020. What were some of the challenges you encountered? Th e fi rst challenge we faced was the COVID-19 pan- demic hitting when we were only a company for three months. We were new, but it was lucky that we were new because we weren’t in the middle of manufactur- ing a lot. During this time, there were some markets that were closed off and we decided to pivot away from, such as Vancouver’s fi lm industry and outdoor events that use diesel generators that can be loud, a pollutant, and unsafe. Over the past year, we addressed the off -grid res- idential market, which is still diesel dependent, but now they’re off -grid and they own their own energy. Now, we’re going to the off -grid and on-grid commer- cial markets as well. Th e second challenge we’ve recently faced is supply chain issues. Everyone in the world experiences it. Th e Suez Canal incident was one thing, but essentially for anything hardware-related, the prices have just gone up, mainly because of the whole supply chain shortage. For us as a hardware company that develops batteries, it presents delays. However, it was a good learning curve for us – we defi nitely know how to better position ourselves on the supply end and better prepare for any delays that are going to be there in the future. What do you consider Moment Energy’s biggest success? Our biggest success is our three projects that we’ve deployed over the past year. Th ese three projects are off -grid residential applications, but not just a cabin or a home. Some of them are mansions in the middle of the woods or on an island, so they use a lot of energy. Th e three projects were in Winnipeg, Quadra Island in British Columbia, and Edmonton. It was really fulfi lling to live on some of these sites for a couple days during installation to see everything get powered by our batteries: lights, TV, the fridge, etc. We were really happy about those successes and proud of Moment Energy. Overall, we’ve grown incredibly quickly. Six months ago, we were still in one of our co-founder’s garage. Th en, we moved into a small, warehouse sharing type model, and now we have our own facility. It all hap- pened in six months. Recently, we also closed our seed round for $3.5 million. What makes your organization unique? We’re signifi cantly more aff ordable, thereby allowing greater access to high quality, lithium-based energy storage to a lot of these markets that need it. As well, we have higher discharging capabilities with our bat- teries compared to traditional lithium. Another thing that makes us unique is our envi- ronmental impact. New lithium is not required to be mined for our batteries which helps circumvent the negative social and environmental issues of mining. And then we do have a core technology overall. Th e core technology, in terms of why we win against any second life company, is the development of our battery match system. How do you feel Moment Energy makes the world better? We feel we make the world better because our meth- od of energy storage off ers a more environmentally positive solution than traditional energy storage. It’s also a safer option for our clients, as lead acid batteries, 40 MAKE THE WORLD BETTER MAGAZINEin addition to being negative for the environment, can be dangerous if you get the acid on you when topping up the batteries. As well, our energy storage solution is a reliable alternative to renewable energy. Th ose who have installed solar panels or use wind energy often face sunlight or wind shortages which makes energy storage unreliable. Unfortunately, many end up having to turn to diesel generators as a back-up. So we see us fi tting into the picture as sort of a hybrid approach; we install our battery, and combined with the diesel generator, we still reduce diesel consump- tion signifi cantly. Tell us about your organization’s goals. Right now, we’re partnered with four auto manufac- turers, with about three more we’re in talks with, so we’re essentially leaders in terms of partnerships for auto manufacturers. In terms of our batteries, we have developed and deployed fi ve kilowatt hours, which is a very small application. One residential home is 14 kilowatt hours, to put in perspective. We’ve also been deploying 20 kilowatt hours for off - grid residential homes. Now, what we’ve just built and sent out is 100 kilowatt hours, which is about fi ve off -grid homes or about eight on-grid residential homes. With that, we’re really addressing the more commercial-type applications, such as in the aquaculture or mining in- dustries, where they use diesel generators and require more energy. Another application we’re focusing on is small to medium manufacturing buildings. In provinces like Ontario and Nova Scotia and several states in the United States, they face demand charges where if you draw too much power from the grid, you will get fi ned hundreds of thousands of dollars. Our batteries can provide necessary juice for when they hit those peaks. We’re working to be the fi rst commercial, second-life battery certifi cation. Our big, hairy, audacious goal is to ensure all elec- tric vehicle batteries are repurposed by 2030 and that we would have a part in all that. And really, we want to make clean, reliable and aff ordable energy for all. Are there any upcoming initiatives or projects you’d like to share? Right now, a lot of our projects are in the works in the short term. For example, we’re sending our bat- tery pack to Dalhousie to do testing. We’re working with the Verschuren Centre right now to lock down an off -grid site to deploy our battery pack there, as well as working in Nova Scotia to work on on-grid projects with other companies too. Other BC-related projects are focused on the springtime. What do you most want people to know about Moment Energy? First and foremost, Moment Energy is a company that puts people fi rst. Without our strong and pas- sionate team, we would not be able to make mean- ingful environmental and social change for others. We’re a cleantech company with a mission to change the way people view sustainable businesses. We’re providing an energy storage solution that is not only reliable, but environmentally sustainable. Th is speaks to how all products should be designed. How can people help or contribute to Moment Energy’s mission? Spread the word about us! We are always looking for project opportunities and new talent to join our team. Th e best way to contribute is to talk about what we’re doing (battery repurposing) and recom- mending our solution (energy storage). momentenergy.ca facebook.com/Moment-Energy- 100584705552919 twitter.com/moment_energy linkedin.com/company/momentenergy instagram.com/momentenergy APRIL 2022 • ISSUE 02 41When thinking about ecosys- tems, it can sometimes be easy to forget about the “systems” part. Plants, animals and humans are all connected, starting with soil. Soil health should be everyone’s fi rst priori- ty when it comes to agri- culture. Luckily, there’s a movement that’s aiming to ensure that happens. Ecosystem Services Market Consortium is a non-profi t that’s working to improve soil health across the US. We spoke with Thayer Tomlinson, Communications Director, about Ecosystem Services Market Consortium (ESMC), including why they started, their upcoming projects, and how you can get involved. Tell us about ESMC’s mission. Th e Ecosystem Services Market Consortium’s mission is to advance ecosystem service markets that incentiv- ize farmers and ranchers to improve soil health systems, which benefi ts society. More specifi cally, we are creating a program that pays agricultural producers for the measurable climate and water benefi ts resulting from practice changes in their agricultural operations. What inspired your founders to start ESMC? ESMC was offi cially formed in 2019 after two years of multi-stakeholder discussions on how to best create carbon markets tailored to agriculture, and their ability to scale benefi cial soil health outcomes. Our work is driven by the potential we see in agriculture’s abili- ty to improve soil health and combat climate change. Our approach creates a win-win-win for farmers and ranchers, consumers, and the environment. While we do not believe ecosystem services markets are a “silver bullet” cli- mate solution, we do believe our market program can complement other global eff orts and provide near-term opportu- nities to reduce greenhouse emissions at the lowest possible cost, while other, more costly tools and technologies are brought online. What were some of the chal- lenges they encountered? Building a market program that encom- passes multiple crop types, production systems, and regions in the US is not easy. Ensuring that ESMC’s market program has the highest level of scien- tifi c rigor is even harder. Making our work even more complex is creating an ecosystem services market that includes credits for reduced greenhouse gases, soil carbon sequestration, im- proved water quality and quantity, and increased biodiversity. Many of the tools, technologies, and program design aspects for our program have had to be built while we are build- ing our program. While this process has allowed us to create new types of credits for carbon markets as a whole, it also takes a lot of time, eff ort, thought, and fi nancial support. What do you consider ESMC’s biggest success? To tackle the challenges of building this market, our wide and diverse member- ship is one of our greatest resources. Our ECOSYSTEM SERVICES MARKET CONSORTIUM Incentivization is key to improving soil health, one farm at a time 42 MAKE THE WORLD BETTER MAGAZINE80+ membership represents the entire spectrum of the agricultural value chain, including agricultural producer groups and co-ops, major corporate food and beverage companies, agribusiness, conservation NGOs, agtech companies, land grant universities, and others. With our members, we are collectively invest- ing in ESMC’s market program. An example of this collaboration is our pilot projects around the country, which use nationwide member organi- zations and producers as pilot partners. Th rough our pilots, we work with an extensive network of partners and col- laborators to test and refi ne our market program and other new technologies for every major farm commodity across the nation. Th ese pilots are key to our success – the dedication and time our partners have put into the pilots is a full measure of our success to date. What makes your organization unique? Carbon market programs for agricul- ture are becoming more common, and farmers have lots of questions about why they should work with one program over another. ESMC is unique in that our organization is a not-for-profi t or- ganization operating a market program, while many of the other carbon market programs are for-profi t organizations. We’ve created a member-led consor- tium that can maximize environmen- tal impact and producer income by delivering as much of the value back to farmers and ranchers as possible. Producers who work with us have the fl exibility to choose among the practices that can generate credits, so producers can manage their operations to work best for them. Additionally, our program pays producers for a suite of quantifi able im- pacts: carbon credits and water quality, water use conservation, and habitat and biodiversity enhancement and protec- tion. So instead of focusing on just one type of environmental improvement, we “stack” multiple ecosystem services to go beyond simply improving soil carbon and reducing greenhouse gases. Th is approach to generating multiple environmental credits from the same land improves our producers’ return on investment per acre. How do you feel ESMC makes the world better? Ecosystem markets represent one of humanity’s best chances to mitigate the worst consequences of climate change. Our ecosystem market program re- wards agricultural producers for mea- sured environmental impacts based on practice changes. But these benefi ts to farmers and ranchers don’t stop with our payments. Regenerative and sustainable agricul- tural practices that increase soil organic carbon and reduce greenhouse gases have benefi cial climate impacts, but they also improve overall soil health, structure, fertility, and productivity. Th is can create more resilient produc- tion systems that are less impacted by extreme weather. Better soil health, in turn, means reduced soil erosion from wind and water, keeping valuable soil in the fi eld. Improved soil water holding capacity can reduce nutrient losses and lower irri- gation requirements. Improved practices can also positively impact biodiversity and habitat. Tell us about your organiza- tion’s goals. While ESMC has many goals, one key goal is to enable the success of the agricultural value chain to enroll tens of millions of acres in our market program. Th is work will help reduce the agricul- tural sector’s supply chain emissions to align with public commitments and science-based targets. Are there any upcoming ini- tiatives or projects you’d like to share? Starting soon, our program will be operating in all 12 US agricultural regions, allowing producers across the country to enroll with ESMC and begin generating saleable ecosystem service credits. In May 2022, our market program will launch, which allows those producers currently enrolled in ESMC pilot projects to participate in our full market program. As the market continues to scale and demand for ecosystem services increases, the value/price of credits will continue to rise, further incentivizing producers to adopt more regenerative practices, which will produce additional benefi cial environmental outcomes and provide additional revenue to producers. What do you most want people to know about ESMC? As we expand our market program, it is important for the producers who create credits, the buyers of those credits, and the wider public to understand how much science and verifi cation under- pins these credits. We base our work on science, widely accepted standards, and outcomes. Our market protocols have the stron- gest possible scientifi c basis to provide confi dence and trust to sellers and buyers, as well as the public. Our pro- tocols, projects, and ecosystem service assets are verifi ed and certifi ed by global certifi cation bodies, Gold Standard and SustainCERT, so buyers of our credits have confi dence that their investment is truly having an impact. How can people help or con- tribute to ESMC’s mission? One way people can help ESMC’s mission is to learn more about where their food comes from and how it is produced. Farmers, ranchers, and the agricultural sector can play a key role in reducing greenhouse gas emissions and increasing soil carbon, and be part of the solution to climate change. Supporting agricultural producers as they transition to more regenerative practices is part of that solution. ecosystemservicesmarket.org linkedin.com/company/ecosys- temservicesmarketconsortium facebook.com/Ecosystem-Ser- vices-Market-Consortium -102849428360893 twitter.com/MarketEcosystem APRIL 2022 • ISSUE 02 43What PurposeDriven Companies Need to Know About Insurance A look at the complex relationship between impact companies and the insurance industry By Sparx Publishing Group E ntrepreneurs understand the fine balance between risk and reward, especially when it comes to doing business. For purpose-driven companies who are innovating and taking risks in order to make the world better, the reward may include nothing less than helping save the planet itself. But what happens when the insurance companies, a crucial component in the function of the economy, aren’t prepared to take the same risks? Sparx Publishing Group spoke with James K. Asaad, President & Vice Chairman at Ferrari and Associates Toronto, who has extensive experience working with emerging indus- tries, about the complex relationship between these businesses and the insurance industry. The Current Relationship Between Insurance and Purpose-Driven Companies As many business owners and seasoned entrepreneurs already know, securing adequate insurance coverage is a prerequisite to doing business. Insurance is embedded into every part of commerce and every transaction that takes place. But what does insurance actually do for a company? Put simply, insurance effectively takes away various elements of risk your business would otherwise be liable for, in exchange for a small percentage of what those risks would actually cost you. However, the insurance industry in general is not very friendly towards innovation. “The insurance market has been hardening since 2019, exacerbated by COVID,” Asaad said. “That issue is acute for startup segments… because the insurers that have been around for a long time are insuring a lot of these businesses which have had a long runway in history. It’s an industry that looks backwards and then makes decisions on the future.” In another view, the insurance industry’s perceived resistance to insuring purpose-driven companies seems contradictory. Insurance is designed to mitigate uncertainty, and from that perspective, a better world is a predictable world. However, nature is becoming increasingly unpredictable, in large part due to climate change. If a company’s work helps mitigate the effects of climate change and restore some of that predictability, it seems logical that the insurance industry would want to incentivize these companies to succeed. Perplexingly, this does not appear to be the case. “Unfortunately, when the capital markets and entrepreneurs are always looking into the future… but the insurance company can’t stop looking at the rearview mirror, you slow down that innovation,” said Asaad. Challenges Around Securing Insurance Coverage The insurance industry’s pervasiveness and challenging rela- tionship with innovative companies has resulted in an envi- ronment that can make it difficult for businesses in the impact space to get off the ground. “It’s become an unfortunate situation where businesses are unable to launch,” remarked Asaad. “They can’t secure con- tracts if they don’t have insurance.” In cases where purpose-driven companies are able to secure insurance, pricing is often a hurdle, especially for start-ups. “As a result of reduced interest in that space, there are insurance companies that have become opportunistic,” said 44 MAKE THE WORLD BETTER MAGAZINEAsaad. “They do charge a premium to insure these companies. Recognizing that they’re one of few that have an interest in underwriting these things, they can call their shots on pricing.” One potential solution to the pricing problem is grants and subsidies for entrepreneurs. However, Asaad believes this only addresses part of the overarching issue. “We are seeing an increased amount of this capital that’s being provided to the entrepreneurs, be that by the private sector or the government,” he said. “That does help to remedy the situation in the sense that it gives them the capital they need to secure insurance. However, it does not change the insurance segment’s vision or view on startup businesses and startup segments.” Though these challenges are undoubtedly tough, they’re not insurmountable. Critical Shifts in the Industry, and What Still Needs to Change There is a growing sentiment in the insurance industry towards the opportunity purpose-driven companies represent. “The competitive landscape right now, from an insurance perspective, is ready to be disrupted. What I’m seeing right now is a lot of younger people who see an opportunity within the industry to disrupt it, and have an entrepreneurial mind- set, that want to insure and support the vision of these new segments where the journey is to make the world a better place,” noted Asaad. Asaad compares these more entrepreneurial insurance com- panies to investment bankers. “They want to get to know: who are the people, the players, that have this idea? What’s their vision? What’s their aptitude, their experience?” According to Asaad, one important change that still needs to be made across the insurance industry is a shift in mindset. “We have to take the mindset of supporting the entrepre- neur and supporting the segments that are trying to make the world a better place. That is our duty.” What Can PurposeDriven Companies Do? In emerging sectors, where there’s not a lot of data and history available, it’s difficult to quantify execution risk from an insurance perspective. That’s why it’s important to make as many unknowns as possible into “knowns.” To turn unknowns into knowns for his clients, Asaad uses a method called the Insurance Investment Presentation. “We want the insurance companies to get comfortable investing their capital into these leaders and businesses,” he said. “We want to start to recognize some of the opera- tional pieces of the client or the business as it relates to insurance… When you get a sense of what the ecosys- tem looks like for their product or service, and how much control over it they have, you get a better sense of their ability to actually execute.” Purpose-driven companies will also want to be particular when selecting an insurance broker to work with. “Choose an insurance broker who demonstrates an interest in you and your business, an understanding of who you are, what your vision is, and who is fluent in the language of entrepreneurship, law, and finance,” Asaad recommends. “They must exemplify the qualities of your business while packaging your story creatively in a manner which navigates the needs of underwriters in today’s market.” Finally, purpose-driven companies should feel empowered to speak up about the challenges their companies are facing when it comes to insurance, and encourage others in the sector to share their stories as well. If entrepreneurs advocate for focus on innovation in the insurance industry, meaningful change is possible, and with it, a chance to build a better world. “ We have to take the mindset of supporting the entrepreneur and supporting the segments that are trying to make the world a better place. APRIL 2022 • ISSUE 02 45AGRICULTURE GAS EMISSIONS accounts for in Canada. OF TOTAL GREENHOUSE 8% Government of Canada, 2021 46 MAKE THE WORLD BETTER MAGAZINE MAKING THE WORLD BETTERWITH REGENERATIVE AGRICULTURE RE IONS anada. HOUSE WITH REGENERATIVE AGRICULTURE APRIL 2022 • ISSUE 02 47