The Government of Canada is investing nearly $5 million in Coquitlam’s Moment Energy to expand production of modular battery energy storage systems. Funded through Pacific Economic Development Canada’s Business Scale-up and Productivity program, the repayable support will help scale second-life systems made from retired electric vehicle batteries, which often retain up to 80% capacity.
CEO Edward Chiang said the funding accelerates national expansion and positions Canada as a clean energy leader. Founded in 2020 by Simon Fraser University graduates, Moment recently secured $21.6 million in Series A funding to establish the world’s first EV battery repurposing gigafactory.
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