Moment Energy secures $40 million to advance battery platform

Moment Energy has announced a USD 40 million Series B funding round, bringing its total capital raised to over USD 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 Canadian company said in a media release.

“AI is exposing what’s been broken in the grid for years, and the answer isn’t waiting on the next trillion dollar utility upgrade,” said Edward Chiang, Co-Founder and CEO of Moment Energy. “The era of independent energy is here, energy free from a grid that can’t keep up, supply chains we don’t control, and decades of new extraction. It starts with the batteries already on our roads. We’re certified to put them to work.”

Moment Energy has advanced battery repurposing from experimental use cases to enterprise-grade commercial deployment. The company has achieved critical safety milestones, including UL 1974 and UL 9540A certifications, the media release said.  

Its proprietary pack-swapping architecture extends system lifespans to 30 years—double 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 a breakthrough 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. With a deep, data-driven understanding of battery health and chemistry, Moment Energy is uniquely positioned to deploy high-performance systems,” said Marty Reed, Partner at Evok Innovations. “This is a real-world use case for Physical AI: turning complex data into the reliable energy storage needed to power our future.”