Moment Energy Inc. (48C Self-Disclosed)

Moment Energy is building the first large-scale US manufacturing facility to process Giga-Watt hours of electric vehicle (EV) batteries for stationary storage applications. This facility will repurpose retired EV batteries, with 80% life remaining after their initial use in EVs, for grid modernization. Moment Energy will leverage its leadership in advanced battery testing and manufacturing, along with proprietary hardware, electrical systems and software, to ensure the EV battery repurposing process is safe and affordable. This initiative creates hundreds of well-paying jobs in the renewable industry, strengthening America's energy independence and critical material supply chains. The repurposed EV batteries will be utilized for grid modernization across the United States before being recycled domestically, ensuring that battery materials are kept in the US Supply Chain. Moment Energy's facility builds upon the success of its 15,000-square-foot concept facility, which stands as North America's first and only process certified by UL Solutions to UL 1974, the Standard for Evaluation for Repurposing Batteries.

The U.S. Department of Energy (DOE) released applicant self-disclosed information for 22 projects across 17 states that voluntarily shared with DOE that they received a total of nearly $1 billion in allocations from the Qualifying Advanced Energy Project Credit (48C). Nine of the self-disclosed projects indicated they are located in 48C energy communities – communities with closed coal mines or coal plants—showcasing the Biden Administration’s commitment to investing in America’s energy communities.