Founded 2019
Industry
Electricity
Edward Chiang
CEO
Sumreen Rattan
COO
Gurmesh Sidhu
CPO
Gabriel Soares
CTO
Chris Benson
Director of Business Development
Articles
- Moment Energy raises $40M to meet 'infinite demand for power' with EV batteries | TechCrunch
- Moment Energy raises $40M to meet ‘infinite demand for power’ with EV batteries
- The Global Cleantech 100 report
- Moment Energy secures $5 million in debt financing from TD Innovation Partners to help advance global shift toward clean, reliable energy storage
About the company
Moment Energy is providing worldwide access to clean, affordable and reliable energy storage systems (ESS). This vision has helped them form partnerships with four automotive OEMs including Nissan North America and Mercedes-Benz Energy. Moment Energy repurposes retired EV batteries into ESS to reduce demand charges and capacity restrictions in deregulated energy markets such as Ontario. Today, they have 29 employees and have deployed projects across Canada. Their core IP is around the development of a BMS that optimizes the performance of second-life batteries.
About the solution
It is estimated that 95% of EV batteries are not handled sustainably when retired from the vehicle. Today, it costs thousands of dollars to recycle EV batteries. As the transition into EVs grows to 125 million by 2030, the improper disposal of the batteries is a growing problem leaving 200-300 GWh of end-of-life EV batteries stored on shelves or in landfills. We provide clean, affordable and reliable energy storage by repurposing these batteries. Today, we have deployed four paid projects across Canada and our biggest project was a 120kWh system.