The company said it plans to use the Series B funding to expand its Texas gigafactory and B.C.-based facilities, which re-use batteries from automakers like Mercedes-Benz to feed power back into the electrical grid. Vancouver-based Evok Innovations led the round, with participation from global investors like Amazon and In-Q-Tel, an investment firm funded by the CIA.  (The Logic)

Talking point: Consumers are buying EVs again, breaking a slump in the industry, as the war in Iran pushes gas prices higher. The company is seizing the moment to pitch its technology as a way to recycle those EV batteries and power data centres, hospitals and factories. CEO Edward Chiang told TechCrunch that there is a national security argument for Moment Energy’s technology, because China currently dominates the battery-energy storage business. While it was founded in B.C., Chiang said that Moment, which has been offered both U.S. and Canadian government funding, is dual-headquartered in both countries.

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