Moment Energy offers energy storage systems (ESS) ranging from 100kWh – 5MWh for ongrid and offgrid applications. Their systems are built using retired EV batteries and are equipped with a proprietary battery management system, which is specifically designed to manage second life batteries. The systems are compatible with a wide variety of energy sources and offer the performance benefits of lithium batteries without the steep price. The company is currently generating revenue through one-time sales of ESS.
Clean energy, one recycled battery at a time
95% of electric vehicle (EV) batteries are being improperly disposed of despite having 80% of the original capacity left when retired from a car. Moment Energy repurposes these EV batteries into safe and efficient energy storage systems (ESS) that can be paired with any renewable energy source. In addition to this, their system helps diesel dependent customers reduce fuel consumption and/or transition to renewable energy. By repurposing, Moment Energy creates a circular economy for retired EV batteries and ensures they are sustainably managed.
Major partners and serious mentors
In the past two years, Moment Energy has secured a supply chain of EV batteries from Nissan North America and three other major automakers. To date, the company has deployed three pilot projects and have $1.2 million in signed LOIs. They have been the recipients of 13 awards, recently placing first at Spring Activator’s 2021 National Impact Investor Challenge. The founding team also graduated with distinction from NEXT 36, Canada’s best founder development program, and are currently part of Foresight and MaRS CleanTech Innovation Hub.
Building a factory, and growing their team
Moment Energy is currently focusing on building their manufacturing facility, to serve their pilot projects. Concurrently, they are expanding their engineering and business team with members that share the company’s passion for the universal right to clean and reliable energy.
About the founders:
Edward Chiang | CEO & Co-Founder
- Education: BASc. Mechatronics Systems Engineering from Simon Fraser University
- Fun Fact: In his free time, Edward likes to fly with his Glider Pilot and Private Pilot’s License.
Sumreen Rattan | COO & Co-Founder
- Education: BASc. Mechatronics Systems Engineering from Simon Fraser University
- Fun Fact: Sumreen used to play competitive badminton in high school and still enjoys playing it in her free time.
Gurmesh Sidhu | CPO & Co-Founder
- Education: BASc. Mechatronics Systems Engineering from Simon Fraser University
- Fun Fact: Gurmesh is training for an ultra marathon called Fat Dog 50.
Gabriel Soares | CTO & Co-Founder
- Education: BASc. Mechatronics Systems Engineering from Simon Fraser University
- Fun Fact: Gabriel built an electric longboard and enjoys riding around the Seawall on it
Cheat sheet:
- City: Surrey
- Founding date: November 2019
- Type of tech: cleantech – energy storage systems and battery management systems
