Moment Energy, a startup headquartered in Canada and the United States, is raising eyebrows—and money—with its novel approach to repurposing electric vehicle (EV) batteries. The company believes that as climate extremes and data center booms drive up power demand, traditional solutions are lagging behind.

CEO Edward Chiang claims his firm’s unique focus on safety and modularity sets it apart from the competition. By removing automakers’ battery management systems and replacing them with its own software, Moment Energy can create robust grid-scale storage solutions that accommodate various battery chemistries. This flexibility allows customers to benefit from future technological advancements while reducing downtime if a module fails.

The company’s safety credentials are noteworthy too. Obtaining UL certification—something other companies have struggled with—makes Moment Energy the first in this field to receive such a stamp of approval. The company argues that leaving automakers’ management systems intact on re-used batteries could pose insurance issues, as illustrated by their partnership with Liberty Mutual Ventures.

Despite being relatively small—employing around 72 staff members—the startup has already secured major deals and funding. Supply contracts with Mercedes-Benz and Nissan, a $20 million loan from the Department of Energy, and plans for a gigawatt-scale factory in Austin, Texas, speak volumes about its ambitions.

Chiang’s Canadian roots, he says, have instilled a more pragmatic approach to business growth. While other startups might chase promises that can’t be met, Moment Energy focuses on real customers and tangible products rather than just raising capital for the sake of it.