Affordable and reliable.
That's Moment Energy's mission with a goal of creating energy solutions for all through tech projects that can reuse and sustain renewable resources — like old electric vehicle batteries (EV).
The Port Coquitlam-based firm is currently testing such an idea by using repurposed EV batteries to develop a low-carbon energy storage system thanks to a $320,000 grant it received from the province.
On April 9, the ministry of energy, mines and low carbon innovation announced Moment Energy's project as one of 17 under a second funding call for the CleanBC Go Electric Advanced Research and Commercialization program (ARC).
The money is going toward the creation of a 120 kWh (kilowatts per hour) battery pack that will deploy to an off-grid diesel-dependent scuba diving resort "to gain real-world performance and environmental data," a release states.
"This momentum continues to support the mandate and goal of Moment Energy's mission: To repurpose all EV batteries for second-life use by 2030," explains Moment Energy co-founder and CEO Edward Chiang.
"We are excited to transform British Columbia into a leader in second-life EV batteries, building on the electric vehicle ecosystem of the province on the world stage."
As well, the project is set to sustain nearly a dozen full-time jobs in B.C.
That's out of 175 the provincial government is expecting the ARC program to flourish from a total of more than $18 million in industry and federal investments.
"Increasingly, people in B.C. are choosing electric vehicles to reduce their emissions," says Port Coquitlam MLA Mike Farnworth.
"With this funding, Moment Energy can ensure that old EV batteries are repurposed to develop clean electricity storage systems for communities throughout the province and keep them out of landfills to promote a cleaner and more sustainable future for everyone."
According to the province, B.C. currently leads North America in the transition to EVs with light-duty EV sales representing 13 per cent of all new light-duty vehicle sales in 2021.
Moment energy's project is being constructed out of the Renewable Energy Storage Laboratory at Dalhousie University in Halifax, N.S., before getting shipped back to the Tri-Cities.
The company is located in Port Coquitlam's Broadway Business Park (114-1585 Broadway St.).