Canadian clean energy startup Moment Energy has established a supply agreement with Mercedes-Benz Energy (MBE) for second-life electric vehicle batteries. This marks the first agreement Mercedes-Benz Energy has signed with a North American second-life energy storage system (ESS) provider.
“Together with Moment Energy we will enable sustainable ESS-solutions for North America based on second-life batteries. We are to combine Mercedes-Benz Energy’s experience with Moment Energy’s pioneering spirit in these exciting times,” said Gordon Gassmann, CEO of Mercedes-Benz Energy.
Electric vehicles, or EVs, are expected to make up 70% of US automotive sales by 2030. With this growth comes tens of millions of end-of-life EV batteries that are being improperly managed. On top of that, these batteries still have an average of 80% of their original capacity remaining when removed from vehicles.
“We’re excited to work with Mercedes-Benz Energy to ensure that EV batteries are given a second life in stationary energy storage applications. With this agreement, we are another step closer to closing a circular economy for EV batteries,” said Sumreen Rattan, co-founder and COO of Moment Energy.
Moment Energy has integrated Mercedes-Benz Energy batteries in its latest 60-kilowatt-hour energy storage solution. Moment Energy will deploy two of these systems at God’s Pocket Resort, a Canadian off-grid diesel-dependent scuba diving resort later this year.