Alumni startup Moment Energy nets $3.5 million in seed funding

Moment Energy co-founders Gabriel Soares, Edward Chiang, Sumreen Rattan and Gurmesh Sidhu. Cleantech startup Moment Energy -created by four SFU alumni, formerly students in the Mechatronic Systems Engineering (MSE) program-has secured $3.5 million in seed funding that will further its efforts to create sustainable energy storage systems by repurposing of retired electric vehicle (EV) batteries. The startup's solution has been installed in off-grid areas to reduce diesel consumption and enables a transition to renewable energy. To date Moment Energy has partnered with world-leading automakers in electric vehicles to pilot its systems in three remote communities, repurposing batteries and displacing the need for generators. Since its formation in 2020- and production in a Surrey-based home garage-Moment has tripled the size of its team and recently established both an office and manufacturing facility in Port Coquitlam. Co-founders Edward Chiang, Sumreen Rattan, Gurmesh Sidhu and Gabriel Soares first came together as students in the Charles Chang Institute for Entrepreneurship 's capstone program, Technology Entrepreneurship @ SFU. They further developed their venture over two entrepreneurship co-op (eCoop) terms, which provided them with $10,000 (each semester), co-op credit, and office space, business development services and mentorship.