Canadian startup Moment Energy announced a US$15 million Series A on January 16, 2025, co-led by Amazon’s Climate Pledge Fund and Voyager Ventures. The company repurposes retired electric-vehicle batteries for stationary energy storage, and said the funding would support production and plans for a dedicated U.S. repurposing facility.
What Moment Energy does with retired EV batteries
Moment Energy takes batteries retired from vehicle use and repurposes them into stationary battery energy storage systems (BESS). Such systems can store electricity for later use rather than powering a car. The company identifies commercial and industrial sites, utilities, microgrids, EV charging infrastructure and renewable-energy integration as potential applications.
A battery that is no longer being used in its original vehicle role may still be useful in stationary storage before eventual recycling. That does not mean every retired EV battery is suitable for a second life; the announcement does not set out a general eligibility rule.
Who invested and how much Moment raised
The announced round was a US$15 million Series A co-led by Amazon Climate Pledge Fund and Voyager Ventures. Other named participants were In-Q-Tel (IQT), Version One Ventures, Overture Ventures, WovenEarth Ventures, Fika Ventures, MCJ, One Small Planet and Climate Capital. Moment Energy’s announcement said the company had raised US$52 million in venture capital and grants to date as of January 2025; that is a time-specific company figure, not a current total.
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What the funding was meant to support
Moment Energy said it would use the financing to support battery-storage production and plans for a U.S. facility dedicated to repurposing EV batteries. GeekWire reported that the planned factory would be in Texas and that the company was based in Coquitlam, British Columbia. The announcement also described plans to expand the company’s Vancouver facilities and team. These were plans disclosed at the time of the round; the sources cited here do not establish whether the Texas facility was later completed or is operating.
The January 2025 announcement referenced a US$20.3 million U.S. Department of Energy award for the factory project in October 2024. That amount is reported here as a figure cited by Moment Energy, not as an independently verified DOE award record.
What scale and savings Moment described
Moment Energy said its BESS projects ranged from 400 kWh to 10 MWh. It also claimed prices could be “up to 30% lower” than traditional first-life battery systems. That is the company’s comparison; it does not establish a like-for-like saving for every project or buyer.
Amazon Climate Pledge Fund Principal Nick Ellis said: “Moment’s second-life battery solution addresses a growing recycling challenge to offer an elegant solution to scalable energy storage.” The quote appeared in the company announcement and GeekWire’s coverage.
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Why the announcement date is January 16, 2025
The company’s funding page and its syndicated release are dated January 16, 2025, as are the GeekWire and Axios reports. The announcement’s body contains a conflicting “JANUARY 16, 2024” dateline, which appears to be an internal date error. The corroborating publication dates support January 16, 2025 as the announcement date.
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Sources
- Moment Energy: Series A announcement, January 16, 2025.
- Newswire.ca: syndicated Moment Energy release, January 16, 2025.
- GeekWire: Canadian startup giving EV batteries a second life lands $15M from Amazon and others, January 16, 2025.
- Axios: Amazon backs Moment Energy, January 16, 2025.
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