Moment Energy has initiated construction on a significant gigafactory near Austin, Texas, following a $40 million investment aimed at expanding its operations. The facility, which spans 200,000 square feet, is expected to increase the workforce from over 70 to 250 employees once fully operational.
Founded in 2019 by Edward Chiang, Sumreen Rattan, Gabriel Soares, and Gurmesh Sidhu, the British Columbia-based startup specializes in repurposing electric vehicle batteries. It has successfully raised over $100 million to date, indicating strong investor confidence in its innovative approach to energy storage.
The company’s battery systems, which can last up to 30 years, are designed to support various sectors, including data centers and utilities. Moment Energy is currently working with clients across North America and has achieved multiple safety certifications that enable it to deploy its technology in commercial environments without needing special permissions.
Recent funding efforts were spearheaded by Evok Innovations, with additional contributions from Liberty Mutual Investments, W23 Global Fund, and Acario, highlighting the growing interest in sustainable energy solutions.