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Moment Energy Battery Repurposing Facility in Canada Expected by June

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Moment Energy, a battery energy storage company, said Wednesday its battery repurposing facility in Canada, with capacity of up to 1 gigawatt-hours, will be operational by the end of June.

The facility, located in Vancouver, British Columbia, will repurpose electric vehicle batteries into deployable energy storage systems, to help meet rapidly rising power demand from data centers, industrial customers and utilities.

"The facility will operate as a fully vertically integrated system, managing the entire lifecycle from battery intake and testing through to integration and deployment," the company said.

The "mega-factory" will operate under UL 1974 certification, or the Standard for Evaluation for Repurposing or Remanufacturing Batteries. It is expected to reach 1 GWh capacity by 2030, according to the statement.

The company said it has raised $100 million in total capital following its $40 million Series B funding, supporting its projects while boosting investor confidence.

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$SHEL