NorthX Climate Tech backs Moment Energy with C$3M follow-on debt for second-life battery storage
What's the deal? NorthX Climate TechDealroom has a profile for this one. Try Dealroom → has made a C$3 million follow-on debt investment in Moment Energy, a Vancouver-based company that turns retired electric vehicle batteries into clean energy storage systems.
This is NorthX's third investment in Moment Energy, lifting its total commitment to nearly C$4.5 million since 2022.
The money provides working capital to cover upfront costs of deploying battery systems across British Columbia until customer payments and incentive reimbursements arrive.
Why now? BC HydroDealroom has a profile for this one. Try Dealroom →'s Energy Storage Incentive program helps commercial and industrial customers adopt battery storage, but it largely reimburses costs after they are incurred.
That leaves a financing gap for the capital needed to design, permit, engineer, procure, and build projects. NorthX's investment is designed to close it.
The deal also follows a busy stretch for Moment Energy, which announced a US$40 million Series B in June 2026, bringing its total raised to over US$100 million.
What could go wrong? Traditional lenders remain wary of first-of-a-kind clean energy projects, a constraint that holds back wider adoption.
"Many lenders remain cautious around first-of-a-kind projects," said James Brady, vice president of finance at Moment Energy. He added that NorthX's support helps prove second-life battery storage is a "bankable asset class."
The signal: The deal underscores NorthX Climate Tech's role as a government and non-profit investor stepping in where commercial lenders still hesitate, deploying patient capital to de-risk first-of-a-kind clean energy projects. For Moment Energy, still an early-stage company despite topping US$100 million raised, the repeat backing signals confidence that its second-life battery model can scale from signed contracts into a financeable asset class.
Read more: Associated Press
Image credit: Generated with Gemini
