In Coquitlam, British Columbia, the federal agency Pacific Economic Development Canada (PacifiCan) announced an investment of over $6.8 million in two local businesses focused on sustainability and innovative technologies in the energy and textile sectors. This initiative reflects British Columbia’s growing ecosystem of entrepreneurs and small businesses tackling contemporary economic and environmental challenges.
Moment Energy, a Coquitlam-based company, is receiving $4.9 million to expand production of modular battery energy storage systems made from repurposed electric vehicle (EV) batteries. These systems enhance power reliability, reduce energy costs for businesses, and can be deployed rapidly to support high-demand energy needs such as data centers, EV charging stations, and critical infrastructure. Moment Energy, the first company in North America certified to safely repurpose EV batteries, extends the life of used batteries by 10–15 years, reducing the need for new battery production and conserving valuable minerals in Canada while promoting leadership in clean energy solutions.
Novo Textile Company is receiving over $1.8 million to increase its textile recycling capacity. The company combines recycled fibers with B.C. wood pulp to produce Canadian-made textiles at competitive prices. This initiative strengthens domestic supply chains while diverting approximately 15 million pounds of garment waste from landfills annually.
The funding is provided through PacifiCan’s Business Scale-up and Productivity program, which supports high-growth businesses in expanding innovative products and services. Officials highlighted that investments like these not only drive sustainable technology adoption and business growth but also contribute to building a resilient Canadian economy.
Moment Energy, founded in 2020 by Simon Fraser University students, leverages EV battery expertise to create stationary energy storage solutions, addressing the growing demand for clean and reliable energy in sectors such as AI data centers and advanced EV charging. Novo Textiles, incorporated in 1991, has evolved from home textiles to medical-grade mask production and now textile recycling, responding to the environmental challenge of the 92 million tonnes of textile waste that enter landfills annually.
Through these investments, PacifiCan aims to empower local entrepreneurs, strengthen sustainable practices in the energy and textile industries, and position British Columbia as a hub for innovation and advanced manufacturing.
