Moment Energy
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Moment Energy Secures US$15 Million Series A Funding to Build World's First Second-Life Gigafactory in the U.S.
Moment Energy has secured US$15 million in Series A funding to build the world’s first second-life gigafactory in the US. The funding, co-led by Amazon Climate Pledge Fund and Voyager Ventures, will support the production of high-performing battery energy storage systems (BESS) from repurposed EV batteries. This investment brings Moment Energy’s total financing to over US$52 million and will enable the company to expand its operations and lead the charge in transforming retired EV batteries into valuable BESS. The new gigafactory is expected to create over 250 skilled jobs in clean technology and renewable energy, and will help bolster North America’s lithium security. Moment Energy’s second-life battery solution offers a cost-effective and sustainable alternative to traditional battery recycling, with prices up to 30% lower than traditional first-life battery systems.