News Summary

Moment Energy, a Coquitlam-based clean energy startup, is establishing a state-of-the-art facility in Surrey, B.C., dedicated to repurposing retired electric vehicle (EV) batteries. This initiative aims to give used EV batteries a second life by converting them into commercial-scale battery energy storage systems. The plant, expected to be operational by the end of June, will focus on testing, reconditioning, and rebuilding batteries, which can retain up to 95% of their capacity for stationary energy storage applications. This project, funded by a US$40 million Series B financing round led by Evok Innovations, will support the company’s expansion in British Columbia and Texas, creating over 100 skilled jobs in B.C. By maintaining a domestic supply chain and utilizing existing battery resources, Moment Energy aims to meet the growing demand for energy storage solutions while reducing environmental impacts.