Moment Energy, one of North America’s leading EV battery repurposing companies, has announced it has secured $5 million in growth financing from TD Innovation Partners (TDIP), the innovation banking division of The Toronto-Dominion Bank.
The funding underscores the growing institutional support for Canadian clean technology companies as they advance the global transition to clean, affordable, and reliable energy.
“Over the past two years, TD Innovation Partners has seen firsthand how the Moment Energy team is redefining what’s possible in sustainable energy storage,” said Alida Kanani, CPA, Associate Director, Capital Solutions, TD Innovation Partners. “Their leadership, integrity, and commitment to long-term growth align closely with TD’s values and our mission to back Canadian innovators shaping a resilient and sustainable economy.”
Moment Energy will use the funds to accelerate the repurposing of lithium-ion batteries into safe, high-performance, and compliant energy storage systems for commercial, industrial, and utility applications. To meet the growing domestic demand for its Luna BESS, the company plans to boost production.
By extending the life of EV batteries, the company reduces waste, strengthens domestic energy supply chains, and enhances energy security in the clean energy transition. Repurposing also helps reduce reliance on imported materials and first-life battery production, making renewable energy storage more sustainable and cost-effective over time.
Moment Energy continues to lead the way in safe, scalable, and sustainable energy storage systems. Notably, the company is North America’s first and only to be certified by UL Solutions to UL 1974 for EV battery repurposing. Furthermore, their Luna BESS was the first repurposed battery system to achieve all key safety milestones, and it is the only grid-ready system of its kind in North America.
Moment Energy’s technology and global partnerships support utilities, infrastructure operators, and businesses seeking to integrate renewable energy sources while reducing environmental impact and operational costs.
“With this financing, we’re accelerating our ability to deliver safe, reliable, and affordable storage solutions that make clean energy accessible to more communities across North America and beyond,” said Edward Chiang, CEO and co-founder of Moment Energy. “We’re strengthening supply chains, improving grid resilience, and advancing the transition to sustainable power worldwide.”
The TDIP financing follows a period of significant expansion for Moment Energy, including a recent strategic investment and partnership with Copec WIND Ventures, the venture capital arm of Latin American energy leader Copec. That collaboration will see Moment Energy deploy gigawatt-hours of second-life battery projects across Latin America and Europe, reinforcing its position as a global driver of circular energy innovation.
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