Cleantech energy company Moment Energy announced that it has raised $40 million in a Series B funding round, with proceeds from the financing to be used to scale its production of energy storage systems made from repurposed EV batteries to meet rapidly growing demand for energy solutions from data centers. Founded in 2020 by Edward […]
Back to Climate News
esgtoday.com
Moment Energy Raises $40 Million to Power Data Centers, Industry with Used EV Batteries - ESG Today
Abatify Summary
Nature & Climate Perspective
**Repurposing electric vehicle batteries significantly reduces the necessity for virgin mineral extraction, directly mitigating the biodiversity loss and ecosystem degradation associated with lithium and cobalt mining. **
- Extends the utility of high-energy materials, thereby lowering the ecological footprint of global mineral supply chains and reducing pressure on sensitive habitats.
- Minimizes the risk of chemical leaching and hazardous waste generation by diverting end-of-life EV batteries from landfills into productive industrial use.
- Indirectly supports landscape-scale conservation by reducing the demand for new mining concessions in areas previously designated for carbon sequestration and LULUCF protection.
Market & Policy Outlook
**This $40 million Series A funding signals a shift toward circular economy infrastructure that addresses Scope 3 emissions and grid stability for carbon-intensive data center operations. **
- Accelerates the adoption of Battery Energy Storage Systems (BESS) by reducing CAPEX, aligning with the technical requirements for I-REC generation and grid balancing.
- Facilitates corporate compliance with the Science Based Targets initiative (SBTi) by lowering the embodied carbon of energy storage hardware within the industrial value chain.
- Positions second-life battery technology as a key component of Article 6.4 sustainable development mechanisms by providing scalable, lower-cost energy storage for emerging markets.
This story moves you. Here's what you can do.
Related Resources
Sourcing:
Contact our trading desk for customized environmental commodities for your needs
Request sourcing: ICVCM / CCP-Labeled Credits