Moment Energy, an electric vehicle (EV) battery repurpose company, has secured $5 million in growth financing from TD Innovation Partners (TDIP), the innovation banking division of The Toronto-Dominion Bank.
The company 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.
Repurposing batteries helps to reduce waste, reduce reliance on imported materials and first-life battery production, making renewable energy storage more sustainable and cost-effective over time.
“With TD’s backing, 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. ” We’re strengthening supply chains, improving grid resilience, and advancing the transition to sustainable power worldwide,” said Edward Chiang, CEO and Co-Founder of Moment Energy.
Recently, the company received an investment and entered into a partnership with Copec WIND Ventures, the venture capital arm of Latin American energy leader Copec. This collaboration will enable Moment Energy to deploy GWh of second-life battery projects across Latin America and Europe, further strengthening its position in circular energy innovation.
In January, the company raised $15 million in a Series A funding. The round also had participation from In-Q-Tel (IQT), Version One Ventures, Overture Ventures, WovenEarth Ventures, Fika Ventures, MCJ, One Small Planet, and Climate Capital.
According to Mercom’s 9M and Q3 2025 Funding and M&A for Energy Storage report, announced debt and public market financing for Energy Storage technology companies decreased 44% YoY with $8.4 billion in 29 deals in 9M 2025 compared to $15 billion raised in 22 deals in 9M 2024.
In December, Aqua Metals, a lithium battery material recycling company, announced the closing of a $1.5 million bridge loan to fund its lithium battery recycling operations. Over 50% of the bridge loan was funded by management and members of the Board of Directors.
