New updates have been reported about Moment Energy.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Moment Energy has raised $40 million in an oversubscribed Series B round, bringing total funding to more than $100 million to expand its second-life EV battery manufacturing and storage deployment in the U.S. and Canada. Led by Evok Innovations with participation from Liberty Mutual Investments, W23 Global Fund, Acario, and existing backers including Amazon’s Climate Pledge Fund, the capital will support facility build-out, hiring specialist teams, and increasing production capacity to serve data centers, utilities, and industrial customers.
The company aims to tackle grid stress from AI-driven data center demand and battery supply constraints by repurposing EV batteries already on North American roads into commercial-scale, certified battery energy storage systems. With UL 1974 and UL 9540A safety certifications, a proprietary pack-swapping design targeting a 30-year system life, and FEOC-compliant, high-density systems that can deliver up to 164 MWh per acre, Moment Energy positions itself as a low-cost, domestically manufactured storage provider whose economics can reduce industrial cycling costs to roughly 3 cents per kWh, reinforcing its role as critical infrastructure in the energy transition.