VANCOUVER, BC - OCTOBER 23, 2024 - Moment Energy, North America's leading EV battery repurposing company, today announced it has been selected by the U.S. Department of Energy (DOE) for a US$20.3 million award to establish the first UL1974 Certified manufacturing facility in the United States dedicated to repurposing EV batteries.
The selection is part of a US$428 million initiative by the Biden-Harris Administration to accelerate domestic clean energy manufacturing in former coal communities across the United States. The program aims to address critical energy supply chain vulnerabilities while creating jobs and revitalizing communities.
Moment Energy will use the funding to construct a state-of-the-art Gigafactory in Taylor, Texas to produce safe, reliable, and affordable battery energy storage systems from repurposed EV batteries. Work will be initiated in Q1 of 2025 to prepare for the design and development of the facility.
Key highlights of the Gigafactory development include:
The project represents a significant step towards strengthening America's clean energy supply chain and reducing reliance on foreign materials. By safely and efficiently repurposing EV batteries, Moment Energy is pioneering a circular economy approach that extends the lifespan of critical battery materials. The project will also contribute to the Justice40 Initiative, spurring economic revitalization in Taylor, TX and surrounding disadvantaged communities.
"We are honored to be selected for this transformative initiative,” said Edward Chiang, CEO of Moment Energy. “Our mission to provide worldwide access to clean, affordable, and reliable power aligns perfectly with the DOE's goals, and this facility will be instrumental in our commitment to enable all retired EV batteries to be repurposed by 2030.”
As North America's first and only company to achieve UL 1974 certification for repurposing EV batteries, Moment Energy has developed one of the world's most advanced second-life battery repurposing facilities and datasets. The company is also developing a proprietary AI management system that will enable all battery energy storage to become safer and longer lasting, to advance its vision of enabling all EV batteries to be repurposed by 2030.
About Moment Energy
Moment Energy is North America's leading EV battery repurposing company creating clean, affordable, and reliable battery energy storage systems (BESS) by repurposing retired electric vehicle batteries. Moment Energy works with major automotive companies, including Mercedes Benz Energy, to support circular economy goals and ensure their batteries are safely used in second-life applications before they are recycled. The team supports utilities, microgrids and commercial customers to improve grid reliability, power EV charging stations and reduce demand charges, all with a sustainable and performant BESS solution made from repurposed EV batteries.
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