Take a peek into Moment Energy’s success with CPO Gurmesh Sidhu
“Go for it!” is the advice that Gurmesh Sidhu, Chief Product Officer of Moment Energy, gives to other aspiring entrepreneurs looking to start their own businesses. Gurmesh believes anyone can do it if they apply themselves and challenge their assumptions.
As an alumnus of Mechatronics Systems Engineering at SFU since 2019, Gurmesh always wanted to start his own company yet did not expect to do it in his undergrad years. His inspiration to start Moment Energy stems from his experience participating in Team Phantom — SFU’s first electrical race team.
This experience allowed him to meet like-minded friends who helped him co-found Moment Energy to repurpose retired electric vehicle batteries and turn the idea into the growing business we see today.
As the bridge between the business and technical team, Gurmesh leads product commercialization and ensures the best avenues for market growth and penetration. He remembers that closing the first large deal was the most difficult, involving talking to many customers and using spec sheets to convince them. He encourages other like-minded entrepreneurs to deep dive into customer discovery. Doing so has not only landed Moment Energy new clients but also helped them stand out in investment rounds.
Moment Energy secured a seed round investment of $3.5 million in November 2021 and is on its way to adopting billions of dollars worth of batteries in the long run. Gurmesh explains that in the hardware industry, which requires significant capital, the team’s experiential readiness to commercialize the technology plays a fundamental role in helping them acquire such generous investments.
To Gurmesh, having a passionate team with a shared vision has been extremely helpful in making the workplace more positive and paving the way towards Moment Energy’s success. The CPO is also grateful to receive critical but positive feedback from VentureLabs entrepreneur-in-residence, Kirk Moir, to push the team to make a real impact.
What else is there to expect? Moment Energy’s long-term goal of repurposing every electric vehicle battery is nowhere near finished, and we can all look forward to the company’s future international projects as well as collaborations with utilities for more renewable energy innovation.