Moment Energy Raises $40 Million to Scale North America's Largest Second-Life Batteries and Drive Energy Independence

Moment Energy, building a new standard for commercial-scale energy storage, led by Edward Chiang, Sumreen Rattan, Gabriel Soares, and Gurmesh Sidhu, has raised a $40 million Series B funding round, bringing its 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.

As AI and electrification strain power grids, energy availability is becoming a key constraint. Moment Energy addresses this by unlocking millions of EV batteries already in use as a domestic energy resource.

"AI is revealing long-standing weaknesses in the grid, where scaling demand cannot be met by slow, capital-intensive upgrades. The shift toward independent energy is framed around reducing reliance on constrained infrastructure and supply chains, beginning with deploying existing EV batteries as a ready, scalable resource," said Edward Chiang, Co-Founder and CEO of Moment Energy.

Moment Energy has scaled battery repurposing to enterprise deployment, achieving key safety certifications that enable compliant use of second-life systems. Its pack-swapping architecture extends lifespan to 30 years and, with incentives, cuts costs by up to 3×, reducing cycling costs to ~3¢/kWh.

Moment Energy is described as uniquely demonstrating that safety and scalability can coexist in EV battery repurposing, according to Marty Reed, Partner at Evok Innovations. A deep, data-driven understanding of battery health and chemistry is highlighted as enabling the deployment of high-performance systems, representing a practical application of Physical AI in delivering reliable energy storage.

To meet rising power demands from manufacturers and hyperscalers, Moment Energy has developed a high-density second-life battery system, delivering up to 164 MWh of storage per acre while remaining FEOC compliant and insurable, maximizing returns in space-constrained environments.

With new funding, the company is scaling its Texas Gigafactory and British Columbia facilities to accelerate deployment, providing North American industries with sustainable, secure, and rapidly deployable energy storage.