Moment Energy secures CAD $4.9M to scale battery storage

British Columbia's Moment Energy has secured CAD $4.9 million in federal funding from Pacific Economic Development Canada (PacifiCan) to expand its production of battery energy storage systems made from repurposed electric vehicle (EV) batteries.

The investment aims to bolster the company's capacity to meet the rising demand for battery energy storage systems (BESS) across North America, estimated at over 5.6 gigawatt-hours. Moment Energy's systems are designed for deployment in a variety of contexts, supporting data centres, EV charging infrastructure, and critical facilities such as airports and hospitals by providing rapid, reliable power solutions where capacity constraints or lengthy grid upgrade waits pose challenges.

Supporting the electricity grid

The company's BESS products, constructed from used EV battery modules and packs, are designed to increase the resilience and stability of the electricity grid while helping commercial and industrial sites lower their energy costs. The systems can be rapidly deployed to locations where power demand spikes - such as AI-focused data centres and EV fast-charging stations - outpacing the ability of traditional grid infrastructure to respond.

Edward Chiang, Chief Executive Officer and Co-founder of Moment Energy, stated that the new funds would contribute to several strategic goals, including expanding its Canadian manufacturing operations, deploying systems more widely, increasing local employment, and advancing system testing and safety initiatives.

"This funding will accelerate our expansion across Canada, allowing us to scale as a homegrown battery energy storage manufacturer ready to power the future. Our systems can support the surge in AI data centres, quantum computers, and advanced EV charging, while ensuring critical infrastructure like airports and hospitals are powered. Just as importantly, we are investing in developing local talent so Canada can lead in clean, reliable energy solutions and remain competitive on the global stage."

Repurposed batteries and safety certification

Moment Energy claims to extend the useful life of automotive battery modules and packs by around 10 to 15 years, with its products typically sourced from batteries still retaining an average power health of above 80 per cent. This approach reduces the requirement for newly manufactured batteries, helping keep critical battery minerals circulating within North America.

Moment Energy asserts that its grid-ready systems comply with these stringent safety benchmarks, which are set by authorities to regulate integration into the power grid.

Alongside the technical standards, the funding is expected to support job growth in advanced manufacturing, power electronics, and battery engineering at the company's British Columbia facility.

Government support

Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for PacifiCan, affirmed the government's commitment to supporting local companies involved in sustainable technology development.

"British Columbia is home to a powerful ecosystem of innovators and entrepreneurs, including right here in Coquitlam. By investing in local businesses like Moment Energy, PacifiCan is helping entrepreneurs advance sustainable technologies, drive business growth and build a strong, resilient Canadian economy," said Robertson.

Moment Energy has also collaborated with automotive manufacturers, such as Mercedes-Benz Energy, in support of their circular economy initiatives.