Moment Energy raises $40M to meet ‘infinite demand for power’ with EV batteries

Moment Energy raised $40 million in Series B funding led by Evok Innovations.

The company repurposes used EV batteries into modular grid storage systems with its own software and UL-certified safety design.

Investors include W23, Amazon Climate Pledge Fund, In-Q-Tel, and Liberty Mutual, with support tied to growing North American power demand.

The funding helps scale a safer, more insurable alternative to conventional storage and reduces reliance on dominant Chinese suppliers.