Moment Energy

Vancouver-based Moment Energy has secured USD $15 million in Series A funding, co-led by the Amazon Climate Pledge Fund and Voyager Ventures. The funds will accelerate the development of Moment’s battery energy storage systems (BESS) made from retired electric vehicle batteries.

Moment plans to build the world’s first EV battery repurposing gigafactory in the U.S., supported by a USD $20.3 million U.S. Department of Energy grant. CEO Edward Chiang highlighted the company’s role in enhancing grid stability and lithium security. Moment Energy’s affordable second-life batteries support renewable energy and circular economy goals.

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Moment Energy has received a $20.3 million award from the U.S. Department of Energy to build North America’s first certified EV battery repurposing facility in Taylor, Texas. Part of a $428 million clean energy initiative, the Gigafactory will have a 1 GWh production capacity, adhering to UL 1974 certification standards.

Expected to create over 250 jobs, the project will begin in early 2025. Moment Energy CEO Edward Chiang emphasized the company’s goal of repurposing all retired EV batteries by 2030, aligning with global clean energy efforts.

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