Moment Energy Raises $40 Million to Scale Certified Second-Life Battery Systems

New updates have been reported about Moment Energy.

Moment Energy has secured a $40 million Series B round, lifting total funding above $100 million as it accelerates deployment of second-life battery storage systems built from used electric vehicle packs. The financing, led by Evok Innovations with participation from W23 and existing backers including Amazon’s Climate Pledge Fund, In-Q-Tel, and Liberty Mutual’s venture arm, supports a strategy centered on UL-certified safety, modular design, and grid-scale applications across North America.

The company, which operates from Canada and the U.S., replaces automakers’ battery management systems with its own software, enabling mixed-chemistry, modular storage platforms that can be serviced with minimal downtime and upgraded over time. Management highlights that Moment is the first company to earn UL certification for repurposed EV batteries, a key differentiator that influences insurability and regulatory acceptance, particularly as some rivals merely test to UL standards without obtaining full certification.

CEO Edward Chiang positions Moment’s solution as a response to surging power demand from extreme weather, EV growth, and the expanding data center sector, at a time when Chinese suppliers control roughly 72% of the global storage market. By offering a certified, North America–based alternative, Moment aims to tap concerns around reliability and national security while giving utilities, industrial users, and data centers a domestic source of grid-scale storage capacity.

The company’s credibility is reinforced by supply agreements with Mercedes-Benz and Nissan, as well as a $20 million loan from the U.S. Department of Energy that underpins its capital-intensive manufacturing build-out. Moment is constructing a gigawatt-scale factory in Austin, Texas, which is expected to materially expand production capacity and position the firm to serve a broader customer base as demand for storage accelerates.

Chiang argues that Moment’s strict adherence to UL requirements and rejection of “bootleg” use of OEM battery management systems reduces fire and liability risks that can render competing solutions uninsurable or prohibitively expensive to insure. He warns that if a reused pack containing an untouched OEM system were to catch fire, investigators and automakers could reject responsibility, exposing operators and integrators to significant legal and financial risk.

Despite interest from major data center operators, Moment says it is avoiding speculative, long-dated contracts designed mainly to support fundraising, instead prioritizing deployments with near-term revenue and clear technical feasibility. With a 72-person team and a growing portfolio of utility, industrial, and data center customers, the company is emphasizing capital discipline and profitability alongside growth, seeking to build a tangible, sustainable business around certified second-life storage rather than chasing valuations driven by future promises.