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Moment Energy

Repurposes EV batteries for energy storage

Overview

Moment Energy repurposes retired electric vehicle (EV) batteries into energy storage systems. It refurbishes used batteries and assembles them into modular storage solutions, which can be deployed to supply high-speed, sustainable charging and grid storage. The company is distinguished by being the first in North America to obtain UL 1974 certification, validating the safety and efficiency of repurposed batteries, and by real-world deployments such as a battery energy-storage system at YVR airport. Unlike vendors that rely on new cells, Moment Energy focuses on repurposing existing batteries to offer an affordable, lower-emission alternative for energy storage, while delivering reliable discharge capabilities. The goal is to expand access to sustainable energy storage, reduce greenhouse gas emissions, and support clean energy adoption by providing cost-effective, certified battery storage solutions.

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About Moment Energy

Simplify's Rating
Why Moment Energy is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

HardwareIndustrial & ManufacturingEnergy

Company Size

51-200

Company Stage

Debt Financing

Total Funding

$112.3M

Headquarters

Coquitlam, Canada

Founded

2019

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What believers are saying

  • May 2026 Series B raised $40 million, pushing total funding above $100 million.
  • June 2026 Surrey megafactory and Texas buildout position Moment for North American localization.
  • October 2026 FEOC compliance unlocks U.S. tax credits for 2027 deployments.

What critics are saying

  • Chinese new batteries at roughly $70 per kWh undercut Moment's under $90 pricing.
  • Texas expansion depends on DOE support and customer uptake before 2030 output targets.
  • If OEM battery supply tightens, the second-life feedstock shrinks and breaks the model.

What makes Moment Energy unique

  • Only North American second-life BESS company with UL 1974 and UL 60730-1 certifications.
  • Megafactory 1 opened June 23, 2026, making commercial repurposing operational at scale.
  • Proprietary AI screening and swappable Nova architecture extend retired batteries 10 to 30 years.

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Funding

Total Funding

$112.3M

Above

Industry Average

Funded Over

12 Rounds

Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Paid Vacation
  • Paid Sick Leave
  • Wellness Program
  • Company Social Events
  • Employee Equity

Growth & Insights and Company News

6 month growth

1%

1 year growth

-7%

2 year growth

-2%
Environment Journal
Oct 27th, 2026
Moment Energy's megafactory featured on global list of best inventions.

Moment Energy's megafactory featured on global list of best inventions. VANCOUVER, BC - Moment Energy's Megafactory 1 has been named by TIME as one of the Best Inventions of 2026, in the Reuse and Recycle category. The Megafactory, which is the largest facility in the world dedicated to reengineering batteries from electric vehicles (EVs) into stationary storage systems. Megafactory 1 produces gigawatt-hours (GWh) of battery energy storage systems (BESS) by 2030. The company is among the first in North America to earn UL 1974 certification for repurposing electric vehicle batteries, preventing them from reaching landfills and giving them a safe life in supporting critical grid infrastructure. TIME's Best Inventions is the second major recognition that Moment Energy has received this month. The company was recently recognized by MIT Technology Review as one of 10 "Climate Tech Companies to Watch" for 2026. The Climate Tech Companies to Watch list is published annually by the newsroom and editorial staff of the publication to recognize achievement and growth of companies in energy and other historically emissions-intensive industries. "This has been a defining year for Moment Energy, and recognition from TIME and MIT Technology Review reinforces the momentum we've built, driving the energy storage industry forward with safe, economical, made-in-North America batteries," said Edward Chiang, CEO of Moment Energy. "These back-to-back recognitions are a testament to the outstanding hard work of the entire Moment Energy team, and I am pleased to say that our most significant impact is still to come soon." Moment Energy enters the fourth quarter of 2026 on a wave of momentum. The company announced the completion of its $40M Series B in May, and the opening of the Vancouver Megafactory 1 in June. Last month, the company announced that it had become independently verified as the first and only battery energy storage provider to achieve third-party verified non-PFE status and full FEOC (Foreign Entity of Concern) Compliance, making its batteries eligible for the U.S. federal Investment Tax Credit in 2027. Moment Energy is the first and only company in the world building commercial-scale battery energy storage systems reengineered from EV batteries, fully compliant to safety standards and deployable in the built environment today. Its systems power data centers, airports, hospitals, factories, and microgrids across North America, manufactured in Texas and British Columbia. Moment Energy is backed by major investors like Amazon Climate Pledge Fund. Environment Journal previously covered the factory opening back in June, when it came online, just six weeks after it was announced.

MIT Technology Review
Oct 6th, 2026
Moment Energy repurposes old EV batteries into grid storage systems

Moment Energy repurposes used EV batteries into grid-connected storage systems, aiming to bypass a supply chain heavily reliant on China. The Vancouver-based startup extracts batteries from end-of-life electric vehicles, screens each cell using proprietary AI models, and repackages viable ones into shipping containers designed to extend battery life by 10 to 30 years. The company has deployed 11 systems since its founding, serving hospitals, airports, and commercial facilities. It recently opened Megafactory 1 in Vancouver, targeting one gigawatt-hour of annual capacity by 2030. Moment has raised $100 million from investors including Amazon and Liberty Mutual. It's now building a larger facility in Texas with US Department of Energy funding. The startup says its systems cost under $90 per kilowatt-hour, though new Chinese batteries average $70 per kilowatt-hour.

Black Press Media
Oct 3rd, 2026
Environment awards for 3 businesses at Surrey/White Rock event.

Environment awards for 3 businesses at Surrey/White Rock event. Published 6:00 pm Friday, October 2, 2026 Winners at 2026 Surrey & White Rock Environment & Business Awards at Sheraton Vancouver Guildford Hotel on Friday, Oct. 2, 2026. (Contributed to Surrey Now-Leader) | Getting your Trinity Audio player ready... | Three businesses were celebrated for environmental awareness Friday (Oct. 2) in Surrey. Surrey & White Rock Environment & Business Awards were given to Moment Energy (Large Business category), AGL Glazing (Medium) and ReuseTechBC (Small) during a Climate & Competitiveness Forum at Sheraton Vancouver Guildford Hotel. Nominees were announced Sept. 1 by Surrey & White Rock Board of Trade, host of the 20th annual awards event, sponsored by FortisBC. A discussion on climate competitiveness involved a panel of Andrea MacLeod (Vancouver Fraser Port Authority), Jorge Lobo (FortisBC) and Caroline Chiu (City of Surrey economic investment department). Here are bios of three award winners, as submitted by the board of trade: Moment Energy (Large Business) "Founded in a Surrey garage in 2019 by four engineers, Moment Energy is a clean-technology leader transforming retired electric-vehicle batteries into commercial-scale battery energy storage systems. By establishing the Surrey Mega Factory, the world's largest certified second-life battery facility, the company manages the entire domestic battery lifecycle to power data centres, hospitals, and microgrids while keeping usable batteries out of landfills. As the first North American company to achieve UL 1974 repurposing safety certification, Moment Energy is advancing the circular economy, replacing fossil fuel dependency, and projecting to manufacture 1 GWh of capacity while creating over 100 local clean-tech jobs in Surrey." AGL Glazing Inc. (Medium Business) "With over two decades of experience, AGL Glazing is a commercial glazing contractor delivering high-performance curtain walls, storefronts, windows, and architectural glass solutions across British Columbia. Through computer-automated precision cutting, AGL achieves up to 97% material recovery in fabrication, cutting traditional aluminum waste by 72%. Their energy-efficient glazing systems significantly reduce heat transfer and building operational carbon emissions. By recycling glass and aluminum, a material that retains value across decades, AGL integrates circular economy principles into modern construction, delivering durable, low-emission envelope solutions that advance a decarbonized built environment." ReuseTechBC (Small Business) "ReuseTechBC is a registered charity dedicated to bridging the digital divide and reducing e-waste across British Columbia. It collects surplus electronics, securely wipes and refurbishes them, and redistributes them to schools, non-profits, and low-income individuals, delaying premature recycling and supporting a circular economy. In 2026 alone, ReuseTechBC refurbished 7,423 devices, diverting an estimated 3,029 metric tonnes of carbon dioxide equivalent emissions, while distributing over 1,500 devices directly into the Surrey community. By prioritizing device reuse over manufacturing and partnering with eco-friendly couriers, ReuseTechBC transforms electronic waste into vital community equity."

Techcouver
Oct 1st, 2026
Moment Energy wants retired EV batteries to power the AI boom.

Moment Energy wants retired EV batteries to power the AI boom. The millions of electric vehicle batteries already travelling North American roads could eventually help power another rapidly growing technology sector: artificial intelligence. That was the message from Moment Energy Co-Founder and Chief Product Officer Gurmesh Sidhu at Energy Disruptors: UNITE 2026 in Calgary, where nearly 3,000 industry leaders gathered to examine the collision of energy, AI, infrastructure and geopolitics. For the B.C.-based cleantech company, the opportunity starts with a simple idea: batteries don't die, they retire. Sidhu told delegates there are now more than 160 million electric vehicles worldwide, representing approximately 4,900 gigawatt-hours of battery capacity that will eventually reach the end of its automotive life. That is roughly 17 times global demand for grid-scale battery storage in 2025, he said. While those batteries may no longer meet the demands of an electric vehicle, Sidhu argues they can continue operating for years in stationary applications ranging from warehouses and EV charging infrastructure to large-scale data centres. "These batteries can last over a decade in the field," Sidhu told the Calgary audience. Keeping critical minerals in North America. Moment Energy's pitch goes beyond extending battery life. Sidhu argued that repurposing EV batteries can help Canada and the United States retain critical minerals and reduce reliance on overseas battery supply chains. More than 70 per cent of global critical mineral refining currently takes place in China, according to figures Sidhu presented. Instead of prematurely recycling EV batteries and potentially sending resulting materials abroad for processing, Moment wants batteries reused domestically until local refining capacity catches up. Sidhu described the approach as a form of "urban mining" - taking battery resources already imported into North America and redeploying them as domestic energy infrastructure. That strategy is already being scaled in British Columbia. In June, Vancouver-founded Moment Energy opened Megafactory 1 in Surrey, which the company describes as the world's largest EV battery repurposing facility. The plant transforms retired EV batteries into energy-storage systems for data centres, hospitals, factories and microgrids, with Moment targeting one gigawatt-hour of annual battery-storage production capacity by 2030. The milestone followed a US$40-million Series B financing that brought the company's total funding raised to more than US$100 million. Moment is also building another megafactory in Texas as it works to develop a larger North American supply of second-life battery storage. Second life as the default. Moment has partnerships with companies including Mercedes-Benz Energy and Nissan North America and has developed technology designed specifically for repurposing EV batteries. Sidhu said the company's next-generation Nova Battery Storage system is designed so individual batteries can eventually be swapped out without replacing the expensive supporting infrastructure around them. That approach could become increasingly important as electricity demand rises from AI, data centres, electrification and renewable power. Moment has already begun exploring that connection directly. Earlier this year, the company signed an agreement with Simon Fraser University to explore energy-storage opportunities supporting AI, quantum computing and data centre infrastructure. For Sidhu, the larger opportunity is to turn a looming battery disposal challenge into a domestic energy asset. Moment Energy's position is straightforward: before North America recycles millions of EV batteries, it should find ways to put them back to work.

Ahold Delhaize
Jul 21st, 2026
Ahold Delhaize announces new investments through W23 Global to drive innovation in retail technologies.

Ahold Delhaize announces new investments through W23 Global to drive innovation in retail technologies. Through W23 Global, Ahold Delhaize invested in five new start-ups developing solutions for AI-enabled operations and sustainability in the grocery retail sector. July 21, 2026 - Ahold Delhaize is pleased to provide an update from W23 Global, the venture capital fund supported by five leading grocery retailers, including Ahold Delhaize, Tesco and Woolworths Group. Last year, Ahold announced four new investments in August and December, and this year the fund has completed five additional investments in the start-ups Moment Energy, Verse, Skyfire, Haast, and Cresta. This growing portfolio contributes to the broader ambition of helping retailers operate more sustainably and efficiently while delivering improved experiences for customers. Sustainability. Advancing circular energy solutions with Moment Energy. Included in this new round of investments is Moment Energy, a pioneer in repurposed battery energy storage systems (BESS) and the first company in North America to manufacture certified, commercial-scale systems using second-life electric vehicle batteries. Built on the principle that every battery deserves a second life, Moment Energy's platform extends EV battery lifespan, preventing premature recycling and landfill waste while enabling more sustainable energy use. Its cost-effective BESS solutions deliver reliable and flexible energy storage at scale across grocery retail infrastructure as well as in settings including data centers, hospitals, factories and microgrids. As Ingrid Maes, Chief Executive Officer (CEO) and Chief Investment Officer (CIO) of W23 Global, noted, "Moment Energy is meaningfully advancing what's possible in sustainable retail infrastructure and supply chain circularity. As grocery operations face rising energy costs and increasing demand pressures, Moment Energy's second-life storage systems give retailers a faster, cleaner path to reliable backup power, while significantly reducing peak-demand utility costs." Optimizing energy portfolios with Verse. W23 Global is also investing in Verse, an energy intelligence platform that helps large-scale energy consumers manage increasingly complex energy portfolios. Its core product, Aria(TM), centralizes utility bills, contracts, and power purchase agreements across thousands of sites, providing a unified view of energy data. This enables retailers to compare forecasts to actual performance across stores, distribution centers and other physical assets, make smarter procurement decisions, and optimize costs and risk. With the addition of Dispatch Intelligence, Verse also orchestrates on-site energy resources in real time, helping AI infrastructure come online faster in a constrained grid environment. AI-enabled operations. Enabling secure agent-driven commerce with Skyfire. Expanding its focus to the emerging landscape of AI-driven commerce, W23 Global is investing in Skyfire, which is building a cross-ecosystem trust and permission layer for the agentic economy. The platform provides a secure identity and financial stack that enables retailers to distinguish trusted AI shopping agents from malicious automation. Through verified "Know Your Agent" (KYA) credentials and integrated payment capabilities, Skyfire allows businesses to safely open their digital channels to autonomous shoppers. "Skyfire is providing the critical infrastructure required to turn the rise of autonomous AI into a new frontier of growth for retailers," said Ingrid Maes, CEO and CIO of W23 Global. "By upgrading traditional commerce stacks with a dedicated agent identity and payment layer, Skyfire provides the key to unlock high-intent agent demand while shielding systems from the surge of bot-driven cyber risk. Skyfire provides the infrastructure retailers need to capture and process automated transactions securely and instantly." Scaling compliant marketing with Haast. Among its latest investments, W23 Global is investing in Haast, an AI-native platform designed to automate marketing compliance and brand protection for consumer industries. Founded in 2023, Haast supports retailers in managing compliance across the full content lifecycle, from pre-publication review to continuous monitoring of live channels. Operating across text, image, video, and audio, the platform helps ensure consistent, compliant messaging while accelerating approval processes. It helps marketing, legal, and compliance teams save time, reduce risk, and speed up content approvals in a complex regulatory environment. Elevating customer experience with Cresta. W23 Global also announces its investment in Cresta, a unified platform in human-centric generative AI for contact centers. Cresta's platform combines autonomous AI agents with real-time coaching and conversation intelligence for human teams. Originating from the Stanford AI Lab and led by the co-founder of Google's AI Contact Center, the company helps teams work more effectively by turning conversational data into live agent assistance. Their scalable technology has already delivered measurable operational results for global enterprises, with over 80 businesses as customers. As Ingrid Maes, CEO and Chief Investment Officer of W23 Global, noted, "Customer service has become a critical point of differentiation for retailers. The opportunity is no longer simply to automate interactions, but to deliver faster, more personalized and more consistent customer experiences while fundamentally improving the economics of service. We believe Cresta is one of the companies best positioned to help retailers achieve both." About W23 Global. W23 Global is a global grocery retail venture capital fund backed by five leading grocery retailers: Tesco (UK, ROI, Europe), Ahold Delhaize (U.S., Europe, Indonesia), Woolworths Group (Australia, New Zealand), Shoprite Group (Africa), and Empire Company Limited (Canada). W23 Global invests in innovative start-ups and scale-ups developing technology to transform grocery retail. Its work focuses on supporting companies that build solutions with practical application across markets, helping advance the way retailers operate and serve customers while addressing sustainability challenges. As technology continues to shape the future of grocery retail, W23 Global remains focused on solutions that make a tangible difference for both customers and retailers.

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