Co-founder of Moment Energy, Sumreen Rattan stands outside the company's facility in Coquitlam, B.C., on June 12. Rattan said when an EV battery is replaced, it typically has around 80 per cent of its capacity left.An energy storage systems manufacturer is giving electric vehicle batteries a place to retire, and a second life to provide a much-needed boost to Canada’s aging power grid as it struggles to keep up with soaring demand.
Moment Energy’s units are designed to charge while demand is low and provide power when stress on the grid is high.
The company is growing in step with North America’s escalating electrification. Since Moment Energy was founded in 2020, it has grown from Ms. Rattan and her three co-founders working out of her parents’ garage to a team of about 40. Together, they’re collaborating with automakers such as Mercedes-Benz AG and Nissan Motor Corp., and are targeting a global battery energy storage market that is predicted to be valued at more than US$30-billion a year by 2030.
Ms. Rattan said the Vancouver International Airport will have one of Moment Energy’s largest storage units installed by January, 2025, where it will store 240 kilowatts of power – the capacity of about seven EV batteries. At maximum power, the unit will be able to run for just over an hour. The lower the power, the longer it can run.