MOMENT ENERGY LANDS $40M TO REPURPOSE EV BATTERIES

The funding positions Moment Energy to capitalize on the growing need for power storage as electric vehicle adoption accelerates globally. CEO Edward Chiang told TechCrunch the company has developed a novel approach to repurposing used EV batteries, extending their lifecycle beyond their automotive use. Repurposed EV batteries are increasingly valuable for grid storage, backup power, and renewable energy systems. As EV production ramps up, a steady supply of used batteries will become available for second-life applications. Moment Energy joins a growing sector of companies focused on battery reuse and recycling. The $40 million funding will support manufacturing scale-up and market expansion as the company addresses what leadership describes as infinite demand for power storage solutions.