Moment Energy's factory in metro Vancouver now works at full capacity, creating battery storage units from reused electric vehicle batteries for North America's 5.6 gigawatt-hour market, reported AltEnergyMag.
Its plant builds Luna BESS, a flexible system reaching 10 megawatt-hours by turning old EV batteries into useful power storage for companies and factories. This practice extends the life of battery parts before they go to recycling centers.
The approach helps tackle waste problems from the rapid growth of electric vehicles while creating a circular solution for valuable resources.
BC Hydro's Energy Storage Incentive Program has inspired customer interest by funding up to 90% of eligible business costs. Like-minded programs are gaining traction across North America as battery storage demonstrates its value in enhancing electric grids and reducing carbon levels.
These units collect electricity when usage and prices are low and then offer it back when usage increases. This plan helps businesses pay up to 50% less on power bills and keeps lights on during blackouts, limiting the need for diesel backup systems that harm air quality.
For you and your family, this means fewer pollutants in the air you breathe and potentially lower costs for goods and services from businesses that save on electricity.
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Luna BESS devices maintain electricity flow at medical centers, air travel hubs, food plants, cement makers, and agricultural properties. They also back up the swelling ranks of data centers that power artificial intelligence tools. Each installation helps reduce thousands of pounds of pollution that traditional power plants or backup generators would otherwise create.
"Over the past six years, Moment has worked closely with leading automakers to develop the safest and most advanced energy storage system on the market," said Edward Chiang, CEO and co-founder of Moment Energy.
"Now with North America's first UL 1974-certified facility repurposing batteries at scale, we're able to take a crucial step toward securing critical battery material retention and modernizing the world's grid," Chiang added.
Gurmesh Sidhu, chief product officer and co-founder, said: "North America is seeing a major upswing in demand for battery energy storage, especially from commercial and industrial users. We're responding to urgent needs in sectors like healthcare and transportation, where reliable power is not optional but essential."
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