Moment Energy Raises US$40M+ Series B to Build the World's Largest Second-Life Battery Factory

Moment Energy, a North American leader in electric vehicle (EV) battery repurposing, has successfully completed a $40 million Series B funding round, announced on May 5, 2026. This latest round of financing brings the company’s total capital raised to over $100 million. The Series B round was led by Evok Innovations, with significant participation from Liberty Mutual Investments, W23 Global Fund, and Acario, alongside existing investors such as Amazon's Climate Pledge Fund, Voyager Ventures, and In-Q-Tel.

The newly acquired funds will be instrumental in expanding Moment Energy's manufacturing capabilities across North America, reinforcing its position as a leading manufacturer of second-life battery systems. The company aims to address the growing energy storage challenges faced by data centers, utilities, and industrial customers in the U.S. and Canada. As demand for energy storage solutions continues to rise, particularly due to the increasing pressure on grid infrastructure from AI and data center operations, Moment Energy is strategically positioned to leverage its unique technology to meet these demands.

Moment Energy's innovative approach focuses on repurposing EV batteries, which are often underutilized after their initial lifecycle. By unlocking this dormant resource, the company not only contributes to sustainability efforts but also mitigates the supply chain challenges that have emerged due to geopolitical risks and long lead times associated with new battery production. The firm has achieved critical safety certifications, including UL 1974 and UL 9540A, allowing it to deploy its systems without requiring special permissions, thus enhancing its competitive edge in the market.

The funding will also enable Moment Energy to scale its production capacity and specialist teams, which is essential for meeting the rapidly increasing demand for energy storage solutions. The company's proprietary technology, which includes a pack-swapping architecture that extends the lifespan of its systems to 30 years, positions it to redefine the economics of energy storage. This innovation, coupled with domestic tax incentives, allows Moment Energy to offer significantly lower costs for industrial users, further solidifying its market position.

The implications of this funding round extend beyond Moment Energy, reflecting broader trends in the energy storage sector. As the demand for reliable energy solutions grows, driven by the expansion of AI technologies and the need for resilient energy infrastructure, companies like Moment Energy are poised to play a pivotal role in shaping the future of energy systems. With its focus on repurposing existing resources, Moment Energy not only addresses immediate energy storage needs but also contributes to long-term sustainability goals, positioning itself as a key player in the transition to a more resilient and domestically powered energy landscape.