Moment Energy Raises $40 Million to Scale Second-Life EV Battery…

Team S · 2026-05-05T14:56:06.000Z

Vancouver-based cleantech startup Moment Energy has secured $40 million in funding to expand its second-life battery energy storage solutions. The round underscores growing investor interest in sustainable energy infrastructure, particularly technologies that repurpose electric vehicle (EV) batteries for grid and commercial use. The funding round was led by Amazon Climate Pledge Fund, with participation from Voyager Ventures, Version One Ventures, and MCJ Collective, alongside other strategic investors. The backing highlights increasing momentum behind climate-focused venture capital and circular economy solutions. Founded by Edward Chiang and Eric Desaulniers, Moment Energy specializes in repurposing retired EV batteries into energy storage systems for commercial and industrial applications. These systems help store renewable energy, reduce electricity costs, and support grid resilience. The company partners with major automakers, including Mercedes-Benz Energy, to source used EV batteries and give them a second life. This approach not only reduces battery waste but also lowers the cost of energy storage compared to manufacturing new batteries from scratch. The newly raised capital will be used to scale manufacturing capacity, expand deployments across North America, and strengthen partnerships with utilities and energy providers. Moment Energy is also planning to build one of North America’s first gigafactories dedicated to second-life battery systems. As global demand for energy storage surges alongside renewable energy adoption, Moment Energy is positioning itself at the intersection of clean energy, EV infrastructure, and circular economy innovation.

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Moment Energy Raises $40 Million to Scale Second-Life EV Battery… | Newnex