EV battery repurposing company Moment Energy has been awarded USD 20.3 million by the US Department of Energy (DOE) as part of the Biden-Harris Administration's USD 428 million clean energy manufacturing initiative. This brings the company's total funding to USD 43 million.
The funding will be used to construct a gigafactory in Taylor, Texas, starting in Q1 2025. The facility will produce battery energy storage systems from repurposed EV batteries. The new facility will have an annual production capacity of one GWh once fully operational.
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