Moment Energy

Vancouver-based Moment Energy secured $5 million in growth financing from TD Innovation Partners, reinforcing confidence in its leadership in EV battery repurposing and clean energy storage. The investment from TD Bank’s innovation arm highlights rising institutional backing for Canadian cleantech firms building essential infrastructure for the energy transition.

Moment plans to scale manufacturing of its UL 1974–certified Luna Battery Energy Storage System, expanding production to meet commercial, industrial, and utility demand. As North America’s only UL-certified EV battery repurposer, the company reduces waste, strengthens supply chains, and advances grid resilience.

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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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Vancouver-based Moment Energy is pioneering a global first: a gigafactory repurposing electric vehicle batteries for sustainable energy storage. Co-founded by Sumreen Rattan, the company addresses a looming gap between storage demand and battery supply, with retired EV batteries offering a circular, cost-effective solution.

Backed by US$15 million in Series A funding and a US$20.3 million U.S. Department of Energy award, the startup is expanding operations in Canada and the U.S. With pilot projects like Vancouver International Airport, Moment is reshaping how businesses stabilize grids, cut emissions, and save costs.

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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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