Moment Energy's Manufacturing Hub Drives Innovation in Storage
Moment Energy's Manufacturing Hub's Full-Scale Production
Moment Energy has reached a significant milestone with its Metro Vancouver manufacturing hub now in full-scale production. This facility specializes in producing battery energy storage systems (BESS) designed to meet the increasing demand in North America, aiming for an impressive capacity of 5.6 GWh.
Introducing the Luna BESS
The flagship product produced at this hub is the Luna BESS, a modular energy storage system that can scale up to 10 MWh. This innovative system transforms repurposed batteries into high-performance energy storage solutions appropriate for both commercial and industrial applications. By revitalizing used batteries, Moment Energy is not only contributing to eco-friendly practices but also ensuring efficiency in energy consumption.
Incentives Driving Demand
The surge in demand for the Luna BESS can be attributed to various incentives, such as BC Hydro's Energy Storage Incentive Program. This initiative covers up to 90% of project costs for qualified businesses, making energy storage solutions more accessible. Across North America, similar programs are facilitating energy storage solutions, crucial for enhancing grid resilience and aiding in decarbonization efforts.
Statements from Leadership
Edward Chiang, CEO and co-founder of Moment Energy, remarked, "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. 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." His vision highlights the importance of energy storage in future infrastructure.
Efficiency during Demand Peaks
The Luna BESS operates by storing energy during off-peak hours and discharging it when demand peaks. This approach can significantly reduce demand charges by up to 50%. Additionally, it helps prevent power outages while minimizing reliance on diesel generators, making it a smart choice for many industries.
Applications of Luna BESS
The areas benefiting from the Luna BESS span various essential sectors, including AI-driven data centers, hospitals, transport hubs like airports, and food processing lines—all of which need reliable power sources. Gurmesh Sidhu, CPO and co-founder of Moment Energy, stated, "North America is seeing a major upswing in demand for battery energy storage, especially from commercial and industrial users. We are responding to urgent needs in sectors such as healthcare and transportation, where reliable power is essential."
A Vision for Sustainable Energy
Moment Energy is a leader in the EV battery repurposing market, focusing on sustainability by creating affordable battery energy storage systems. The company is committed to collaborating with significant automotive enterprises like Mercedes-Benz Energy, emphasizing circular economy goals by ensuring that batteries are utilized throughout their life cycle before recycling. Supported by investments from influential funds, the company aims to provide high-quality BESS solutions that improve grid reliability, activate EV charging stations, and lessen demand charges for customers.
Frequently Asked Questions
What is the main product of Moment Energy's manufacturing hub?
The primary product is the Luna BESS, a modular battery energy storage system that repurposes used batteries.
How does the Luna BESS benefit businesses?
The Luna BESS helps businesses save costs by reducing demand charges and provides reliable energy during peak times.
What incentives are available for energy storage systems?
Programs like BC Hydro's Energy Storage Incentive Program can cover up to 90% of costs for eligible businesses investing in energy storage solutions.
Who are the target customers for Luna BESS?
The target customers include sectors such as healthcare, data centers, transportation, and food processing that require dependable energy sources.
What is Moment Energy's commitment to sustainability?
Moment Energy focuses on repurposing EV batteries to create clean and reliable energy storage systems, supporting the circular economy.
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