British Columbia, BC – Moment Energy, a Vancouver-based cleantech startup in Canada that repurposes retired electric vehicle (EV) batteries for sustainable energy storage, was recently recognized as a Top Three Finalist in the 2021 New Ventures BC Start-Up Competition, winning a total cash prize package of $35,000.
New Ventures BC is a non-profit organization that encourages entrepreneurship and innovation in British Columbia’s start-up technology sector. It offers start-ups with education, mentorship, networking, cash prizes, grant funding, and recognition. offers start-ups with education, mentorship, networking, cash prizes, grant funding, and recognition. In the last 20 years, New Ventures BC supported 3000+ start-ups in British Columbia, who in turn, introduced 8600+ job opportunities with over one billion dollars raised in financing.
The competition is six months long, with four rounds, 200+ competitors, and one grand prize winner. Eligible participants must submit their business idea first. Then, selected competitors must pass a feasibility test and pitch the business idea. Successful finalists work with a mentor team to expand the business idea into a venture plan and pitch to a jury in the final round.
“We’re very excited to be a part of the innovation ecosystem here in British Columbia,” said Sumreen Rattan, Co-founder of Moment Energy. “Having opportunities like the NVBC competition provides the startup community with the support we need to find mentorship and funding while gaining recognition in the province.”
Moment Energy pitched in the final round of the 2021 New Venture BC Start-Up Competition on September 9th, 2021. On October 4th, 2021, the Awards Ceremony was held where winners were announced and received $250,000 in cash prizes. Moment Energy placed third and brought home a total cash prize package of $35,000.
Moment Energy is a Vancouver-based clean-tech startup creating sustainable and affordable energy storage systems by repurposing retired electric vehicle batteries. Their solution helps off-grid customers reduce diesel consumption and transition to renewables, and also provides peak shaving and backup power for on-grid commercial and industrial customers.
Moment Energy was co-founded by four tech entrepreneurs who met in the Mechatronic Systems Engineering Program at Simon Fraser University where they co-founded an electric race vehicle team. The team carries experience from Apple, Tesla, Intel, and Microsoft, and is a MaRS and Foresight CleanTech Accelerator portfolio company.
Additionally, Moment Energy was recognized as the Grand Prize Winner of the 2021 National Impact Investor Challenge held by Spring Activator. Moment Energy currently holds a Top Ten Finalist standing in the 2021 New Ventures BC Competition.
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As Moment Energy’s COO and co-founder, Sumreen leads the supply chain and marketing teams. She is responsible for the company’s supply relationships with the world’s largest auto manufacturers, and leads marketing efforts to establish Moment Energy as their trusted partner for repurposing end of life EV batteries.