Vancouver-based cleantech company Moment Energy has secured more than $40 million in Series B funding to expand its battery energy storage operations across North America.
The round was led by Evok Innovations and included participation from Liberty Mutual Investments, W23 Global Fund, and Acario.
Additional backing came from Amazon Climate Pledge Fund, Voyager Venture, In-Q-Tel, as well as MCJ, Overture Ventures, Fika Ventures, and Garage Capital.
Giving EV Batteries A Second Life
Founded in 2020, Moment Energy develops commercial-scale battery energy storage systems using repurposed electric vehicle batteries.
The company focuses on extending the useful life of EV batteries by transforming them into stationary energy storage systems for commercial and industrial applications.
Its proprietary technology is designed to extend system lifespans from approximately 15 years to up to 30 years while helping reduce battery waste and keeping used EV batteries out of landfills.
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Expanding Manufacturing Across North America
The latest funding round brings Moment Energy’s total capital raised to more than $100 million.
The company plans to use most of the new capital to expand its manufacturing footprint in both Canada and the United States.
Moment Energy is currently developing a battery manufacturing facility in Austin, Texas, where it plans to repurpose EV batteries into energy storage systems at scale.
The company also intends to hire approximately 300 employees across North America over the next 18 months as part of its growth strategy.
Supporting Energy Infrastructure Demand
The company says growing demand from AI infrastructure, data centres, utilities, and industrial operators is increasing the need for resilient and scalable energy storage solutions.
The company aims to position itself as a key infrastructure provider supporting the transition toward more reliable and domestically powered energy systems.
Alongside facility expansion, the funding will also support further development of Moment Energy’s intellectual property and improvements related to battery safety, operational efficiency, system lifespan, and maintenance cost reduction.
Strengthening Leadership
As part of the investment, Marty Reed will join Moment Energy’s board of directors.
About Moment Energy
Moment Energy develops commercial battery energy storage systems using second-life electric vehicle batteries. The company focuses on extending battery lifecycles, reducing waste, and supporting large-scale energy storage infrastructure for utilities, industrial operators, and commercial customers across North America.
