The tech giant’s Climate Pledge Fund co-led the Series A round with Voyager Ventures, with participation from Vancouver’s Version One Ventures among other investors. Moment will use the capital to develop its technology and to fund a new factory in Taylor, Texas. (The Logic)
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The tech giant’s Climate Pledge Fund co-led the Series A round with Voyager Ventures, with participation from Vancouver’s Version One Ventures among other investors. Moment will use the capital to develop its technology and to fund a new factory in Taylor, Texas. (The Logic)
Talking point: The startup, based in Coquitlam, B.C., takes used electric vehicle batteries from vehicle makers. But rather than try to pull out and recycle the raw materials like struggling Toronto firm Li-Cycle, Moment repurposes the cells to store energy in non-automotive settings, selling the repackaged systems to offices, data centres and industrial facilities. The U.S. Department of Energy has already granted the firm US$20.3 million for its new Texas facility, which is designed to produce one gigawatt hour worth of batteries every year at full capacity. Version One led Moment’s $3.5 million seed round in November 2021.
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