The battery storage market is growing - and the supply chain feeding it runs largely through overseas cell manufacturers. At the same time, the first wave of EV batteries is aging out of vehicles, with nowhere obvious to go.
Moment Energy is building the infrastructure to address both problems at once, repurposing retired EV battery packs for commercial energy storage. Their platform takes battery cells that still hold around 80% of their original capacity and redeploys them as stationary battery energy storage. Unlike competitors sourcing cells from overseas, Moment's feedstock is already here: in EVs across Canada and the US.
Sumreen Rattan is co-founder and COO of Moment Energy. The company closed a US$15M Series A from Amazon's Climate Pledge Fund and Voyager Ventures, secured a $20.3M DOE grant for a Texas gigafactory, and holds supply agreements with Nissan North America and Mercedes-Benz.
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TALKING POINTS
Moment’s second-life thesis - why a battery with 80% capacity remaining is too valuable to recycle
Putting together supply partnerships with Nissan and Mercedes-Benz
Data centres as a new customer category
The domestic supply chain advantage as FEOC rules reshape North American procurement
What's slowing energy storage deployment in Canada
Building at gigafactory scale and solving the talent gap
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