Moment Energy has secured a Series B round of funding.
The B.C.-born cleantech innovator has secured $40 million in a round led by Evok Innovations with participation from Liberty Mutual Investments, W23 Global Fund, and Acario.
The Series B round brings Moment’s total fundraising to $100M and will accelerate the company’s manufacturing footprint in North America, according to a statement from the firm.
Moment’s proprietary pack-swapping architecture can extend the system lifespan of electric vehicle batteries to 30 years, compared to the typical 15-year lifecycle of conventional systems.
For Marty Reed, Partner at Evok Innovations, it’s about more than just tech.
Moment Energy is “the only player in the EV battery repurposing industry that has proven safety and scalability are not mutually exclusive,” he says.
Moment Energy is a member of the BC Tech Association.
BC Tech is the largest member-led technology non-profit in British Columbia, and we’re dedicated to turning startups and scaleups into the anchor companies of tomorrow. Our work supports members to grow and diversify their talent pool, acquire new customers, access capital and accelerate their scaleup journey. Technology is a key industry for BC’s future and builds resiliency in every industry. Today, every company is a tech company. Join now.
“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,” the investor remarked. “This is a real-world use case for Physical AI: turning complex data into the reliable energy storage needed to power our future.”
The capital from Evok and others will be used to scale Moment’s workforce and boost production capacity to meet rising demand from data centres, utilities, and industrial customers, says company cofounder and chief executive officer Edward Chiang, who was in December named Fasken’s 2025 Climate Tech Founder of the Year.
“As energy demand continues to increase, Moment Energy is focused on one mission: improving grid resilience and reducing energy costs,” stated Chiang. “We are building a new generation of energy infrastructure that can be deployed rapidly, manufactured domestically and powered by existing battery resources.”
Launched in 2019, Moment Energy was recently recognized as a Scale-up Venture of the Year finalist for the inaugural Canadian Cleantech Awards.
Leave a Reply