Moment Energy, Mercedes-Benz Energy ink supply pact for second-life EV batteries
Clean energy startup Moment Energy has announced that it 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 percent 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 percent 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.