Moment Energy develops battery energy storage systems (BESS) by repurposing used electric vehicle batteries for commercial clients. Their solutions enable peak shaving, load shifting, and backup power to reduce operational costs and support EV charging infrastructure. The company also offers services to transform surplus EV batteries into valuable assets through repurposing programs.
Funding
$25M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Electric vehicle (EV) batteries retain a significant amount of capacity after their initial use, but are often discarded, contributing to waste and underutilization of valuable resources. Traditional energy storage solutions rely on newly manufactured batteries, which have a higher environmental impact due to the extraction and processing of raw materials.
Solution
Moment Energy addresses these issues by repurposing retired EV batteries into battery energy storage systems (BESS) for commercial and industrial applications. The company sources used EV batteries from automotive manufacturers, assesses their remaining capacity, and integrates them into modular storage systems. These systems, such as the Flora BESS, provide a more sustainable and cost-effective alternative to traditional energy storage by extending the life cycle of EV batteries. Moment Energy's solutions reduce reliance on fossil fuels, lower energy costs through peak shaving and load shifting, and support the integration of renewable energy sources. The company's battery management system (BMS) optimizes the performance and longevity of second-life batteries by intelligently managing charging and discharging cycles based on individual battery characteristics.
Target Audience
Moment Energy's primary customers include commercial and industrial facilities seeking to reduce energy costs and improve sustainability, as well as off-grid operations looking for reliable and clean power sources.
Features
- Utilizes repurposed EV batteries with at least 80% of their original capacity
- Modular BESS design for flexible scalability and deployment
- Patented safety systems for hardware and software to ensure operational reliability
- Battery management system (BMS) optimized for second-life battery characteristics
- Solutions for both on-grid and off-grid applications
- Peak shaving and load shifting capabilities to reduce energy costs
- Integration with renewable energy sources such as solar and wind
- Remote monitoring and control for efficient energy management