VentureLabs’ alumni company, Moment Energy, repurposes retired electric vehicle (EV) batteries into clean, reliable, and affordable energy storage systems. By combining solar or wind energy with diesel-hybrid generators, the company reduces diesel use, aiming to eventually eliminate it while delivering sustainable power solutions to communities today.

Recently, Moment Energy received $4.9 million in federal funding from the Pacific Economic Development Agency of Canada (PacifiCan) to scale its modular energy storage systems, which are made from repurposed EV batteries.

The funding will accelerate the company’s expansion across Canada and support its mission to bring sustainable energy solutions to a wide range of industries.

“Our systems can support the surge in AI data centres, quantum computers, and advanced EV charging, while ensuring critical infrastructure like airports and hospitals are powered,” said Edward Chiang, CEO of Moment Energy.

Moment Energy was founded in early 2020 from a small garage in Surrey, BC. Founded by Sumreen Rattan, Edward Chiang, Gabriel Soares, and Gurmesh Sidhu, the team drew on their experience building high-performance electric race cars for Formula E competitions at Simon Fraser University. That expertise inspired their breakthrough idea: repurposing retired EV batteries as reliable energy storage systems.

This milestone underscores Moment Energy’s growing leadership in Canada’s clean tech sector and the crucial role of innovation in shaping a circular, low-carbon economy.

To read more about how Moment Energy and other BC companies are advancing waste-reduction technologies with federal support:  https://www.biv.com/news/technology/bc-firms-receive-68m-federal-boost-to-advance-waste-reducing-tech-11122928.

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