Moment Energy repurposes old EV batteries into grid storage

British Columbia startup Moment Energy converts retired EV battery packs into grid-connected storage systems housed in 20- and 40-foot steel containers. The company has raised $100 million from investors including Amazon and Liberty Mutual, opened its 1 GWh-per-year Megafactory 1 in Vancouver, and is building a larger facility in Texas. Its systems cost under $90 per kilowatt-hour.

• Moment Energy has raised $100 million from Amazon and Liberty Mutual
• Megafactory 1 in Vancouver targets 1 GWh of capacity per year by 2030
• The company's storage systems cost under $90 per kilowatt-hour
• It sources used batteries from about 20 automakers, including Nissan and Mercedes-Benz