Delaware - April 29th, 2024 - Moment Energy, North America's leading EV battery repurposing company, is excited to share that it has been awarded a substantial $6 million in tax credits from the U.S. Internal Revenue Service (IRS) to establish the first large-scale UL 1974 certified manufacturing facility in North America focused on giving new life to electric vehicle batteries. This initiative, funded through the U.S. Department of Energy's 48C tax credit program represents a crucial step in making North America's energy systems more sustainable and resilient.

Moment Energy is bringing innovative technology to construct the world's largest UL 1974-certified manufacturing facility, focused on repurposing retired electric vehicle batteries for grid modernization across North America. Moment Energy is taking a significant step towards strengthening the country's critical mineral supply chain by implementing a process to advance repurposing and recycling within a state-of-the-art battery testing, grading, and manufacturing facility. This facility will provide one of the most robust and safest clean tech operations, ensuring that critical battery materials are handled sustainably and retained domestically.

"Our mission is clear," stated Moment Energy’s co-founder and CEO, Edward Chiang. "We aim to provide worldwide access to clean, affordable, and reliable power. This facility is not just about repurposing batteries—it's about enabling all retired EV batteries to be repurposed by 2030."

Moment Energy is committed to leveraging America's renowned education system to cultivate talent. Through its internship and technical training programs, Moment Energy is nurturing the next generation of leading battery technicians, engineers, and business developers. By collaborating closely with universities, community colleges, and national laboratories, Moment Energy ensures its team receives training in the most rigorous safety protocols and cutting-edge battery research and development, propelling the future of battery energy storage innovation.

The cutting-edge facility builds on the success of Moment Energy’s 15,000-square-foot concept facility, the first and only in North America to be process-certified by UL Solutions to UL 1974, the Standard for Evaluation for Repurposing Batteries. With proprietary technology, advanced battery testing, and innovative manufacturing processes, Moment Energy ensures that the repurposing of EV batteries meets the highest safety and efficiency standards.

After these repurposed batteries finish their second life in the grid, they will be recycled domestically, ensuring that valuable battery materials remain within the North American supply chain. This sustainable cycle highlights Moment Energy’s commitment to creating a circular economy for EV batteries and grid reliability.

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About Moment Energy

‍Moment Energy is North America's leading EV battery repurposing company creating clean, affordable, and reliable battery energy storage systems (BESS) by repurposing retired electric vehicle batteries. We work with major automotive companies, including Mercedes Benz Energy, to support circular economy goals and ensure their batteries are safely used in second-life applications before they are recycled. We help utilities, microgrids and commercial customers improve grid reliability, power EV charging stations and reduce demand charges, all with a sustainable and performant BESS solution made from repurposed EV batteries.

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