Moment Energy Raises US$40M+ Series B to Build the World's Largest Second-Life Battery Factory
Oversubscribed Series B brings total funding to over $100M to scale domestic manufacturing and energy storage deployment across the US and Canada
Addresses AI power bottleneck by unlocking a dormant domestic resource: EV batteries
AUSTIN, Texas, May 5, 2026 /CNW/ - Moment Energy, a North American leader in EV battery repurposing, today announced a $40 million Series B funding round. The financing brings the total capital raised to over $100 million. The Series B round was led by Evok Innovations, with participation from Liberty Mutual Investments, W23 Global Fund, and Acario (the corporate venture capital arm of Tokyo Gas), joining the company's major investors, Amazon's Climate Pledge Fund, Voyager Ventures, and In-Q-Tel.
The funding will accelerate the expansion of Moment Energy's North American manufacturing footprint, solidifying its position as the leading second-life battery manufacturer. This capital will scale specialist teams and boost production capacity across the US and Canada to satisfy the rapidly increasing demand from data centers, utilities, and industrial customers. It will also fuel the scaled deployment of state-of-the-art commercial energy storage systems, positioning the company as a key infrastructure provider in the transition to more resilient, domestically-powered energy systems.
The funding comes as accelerating demand from AI and data centers places increasing pressure on aging grid infrastructure, with power availability emerging as a critical constraint. At the same time, battery supply chains remain bottlenecked by long lead times and geopolitical risk. Moment Energy addresses both challenges by unlocking the largest untapped domestic resource: EV batteries already on North American roads.
"As energy demand continues to increase, Moment Energy is focused on one mission: improving grid resilience and reducing energy costs," said Edward Chiang, Co-Founder and CEO of Moment Energy. "We are building a new generation of energy infrastructure that can be deployed rapidly, manufactured domestically and powered by existing battery resources."
Moment Energy is advancing battery repurposing from experimental use cases to commercial deployment. The company has uniquely achieved critical safety milestones, including UL 1974 and UL 9540A certifications, making it the only provider able to deploy second-life battery storage systems in the built environment without special dispensations.
The company is redefining the economics of energy storage. Its proprietary pack-swapping architecture extends system lifespan to 30 years, compared to the typical 15-year lifecycle of conventional systems. Combined with domestic tax incentives, this enables up to three times lower net costs, reducing cycling costs to as low as 3 cents per kWh for industrial users.
"Moment Energy is the only player in the EV battery repurposing industry that has proven safety and scalability are not mutually exclusive," said Marty Reed, Partner at Evok Innovations. "With a deep understanding of battery health and chemistry, Moment Energy is uniquely positioned to build and deploy high-performance, second-life systems at enormous scale. This is a real-world use case for Physical AI: turning complex data into the reliable energy storage needed to power our future."
Moment Energy has developed the world's most energy-dense second-life battery systems that are FEOC compliant, insurable and scalable. Its compact footprint enables up to 164 MWh of storage per acre, maximizing ROI per square foot in high-value, space-restricted environments.
A selection of hi-res images to accompany this press release can be accessed here.
About Moment Energy
Moment Energy is the first and only company in North America to manufacture certified, commercial-scale battery energy storage systems (BESS) using repurposed batteries. Founded on the belief that every battery deserves a second life, Moment Energy's technology platform safely extends the useful life of EV batteries and diverts them from premature recycling and landfill disposal. Moment Energy delivers cost-effective and sustainable BESS for commercial and industrial applications, including data centers, hospitals, factories, and microgrids.
For more information, please visit https://www.momentenergy.com/
SOURCE Moment Energy
For media enquiries, please contact [email protected]
Share this article