Moment Energy, a North American leader in electric vehicle battery repurposing, has closed an oversubscribed Series B funding round totaling more than $40 million. The financing brings the company’s total capital raised to over $100 million. Evok Innovations led the round, joined by Liberty Mutual Investments, W23 Global Fund, and Acario, the corporate venture arm of Tokyo Gas. Existing investors Amazon’s Climate Pledge Fund, Voyager Ventures, and In-Q-Tel also participated.
The new funding will accelerate Moment Energy’s expansion across the United States and Canada, scaling its manufacturing footprint and specialist teams to meet growing demand from data centers, utilities, and industrial customers. The company plans to deploy state-of-the-art commercial energy storage systems that support the transition to resilient, domestically powered grids.
Rising energy requirements from artificial intelligence applications and data centers are placing unprecedented strain on aging electrical infrastructure. At the same time, traditional battery supply chains face long lead times and geopolitical risks. Moment Energy addresses both challenges by repurposing end-of-life EV batteries already operating on North American roads.
Moment Energy has achieved critical safety certifications, including UL 1974 and UL 9540A, enabling it to deploy second-life battery systems in commercial and industrial environments without special exemptions. Its proprietary pack-swapping architecture extends system lifespans to approximately 30 years—double the typical 15-year cycle—while leveraging domestic tax incentives to reduce lifecycle costs. The company reports net cycling costs as low as three cents per kilowatt-hour for industrial users.
“As energy demand continues to increase, Moment Energy is focused on one mission: improving grid resilience and reducing energy costs,” said Edward Chiang, co-founder and CEO. “We are building a new generation of energy infrastructure that can be deployed rapidly, manufactured domestically, and powered by existing battery resources.”
“Moment Energy is the only player in the EV battery repurposing industry that has proven safety and scalability are not mutually exclusive,” added Marty Reed, partner at Evok Innovations. “Their deep understanding of battery chemistry positions them to deliver high-performance, second-life systems at scale.”
Moment Energy’s compact, energy-dense storage installations can deliver up to 164 MWh per acre, maximizing return on investment in space-constrained facilities.
Source: PR Newswire
