Momentum maintains for Moment Energy as the Vancouver-born clean energy innovator has secured a Series B round of funding.
The Canadian cleantech has secured $40 million in a round led by Evok Innovations with participation from Liberty Mutual Investments, W23 Global Fund, and Acario.
The Series B round brings Moment’s total fundraising to $100M and will accelerate the company’s manufacturing footprint in North America, according to a statement from the firm.
The capital will be used to scale Moment’s workforce and boost production capacity to meet rising demand from data centres, utilities, and industrial customers, says company cofounder and chief executive officer Edward Chiang, who was in December named Fasken’s 2025 Climate Tech Founder of the Year.
“As energy demand continues to increase, Moment Energy is focused on one mission: improving grid resilience and reducing energy costs,” stated Chiang. “We are building a new generation of energy infrastructure that can be deployed rapidly, manufactured domestically and powered by existing battery resources.”
Moment’s proprietary pack-swapping architecture can extend the system lifespan of electric vehicle batteries to 30 years, compared to the typical 15-year lifecycle of conventional systems.
For Marty Reed, Partner at Evok Innovations, it’s about more than just tech.
Moment Energy is “the only player in the EV battery repurposing industry that has proven safety and scalability are not mutually exclusive,” he says.
“With a deep understanding of battery health and chemistry, Moment Energy is uniquely positioned to build and deploy high-performance, second-life systems at enormous scale,” the investor remarked. “This is a real-world use case for Physical AI: turning complex data into the reliable energy storage needed to power our future.”
Launched in 2019, Moment Energy was recently recognized as a Scale-up Venture of the Year finalist for the inaugural Canadian Cleantech Awards.