Moment Energy announced a $40 million Series B funding round, bringing the company’s total funding to more than $100 million. The round was led by Evok Innovations, with participation from Liberty Mutual Investments, W23, and Acario, the corporate venture capital arm of Tokyo Gas America. Existing investors, including Voyager Ventures, IQT, and The Climate Pledge Fund, also participated.
Moment Energy develops energy storage systems built from repurposed electric vehicle batteries. The company focuses on extending the usable life of EV batteries by deploying them in stationary energy storage applications after their automotive lifecycle ends.
The company’s battery energy storage systems are designed to support renewable energy integration, grid resiliency, commercial energy management, and backup power applications while reducing battery waste and improving sustainability across the electric vehicle supply chain.
Moment Energy was founded to address the growing challenge of EV battery reuse and recycling as electric vehicle adoption accelerates globally. The company has positioned itself within the emerging second-life battery market, which seeks to repurpose batteries that are no longer optimal for vehicles but still retain substantial storage capacity for stationary use cases.
According to the company, the new funding will support scaling manufacturing capacity, expanding commercial deployments, and accelerating growth across North America and international energy storage markets.
