Image: Moment Energy.
Moment Energy on Monday opened Megafactory 1, the largest EV battery repurposing facility in the world, bringing domestic battery energy storage manufacturing capacity online with a ceremony attended by investors, industry and government leaders.
The now operational facility transforms retired EV batteries into cost-effective, rapidly deployable energy storage systems that support critical infrastructure, including data centres, factories and microgrids, the company said.
The facility comes online as demand for electricity continues to surge, driven by AI, data centres, the energy transition and grid modernization.
Meanwhile, millions of EV batteries already on North American roads are expected to be retired over the coming years, and Moment Energy said it addresses both challenges by turning retired batteries into scalable energy storage systems that offer an immediate solution to energy shortages.
The facility is expected to produce 1 GWh of battery energy storage systems by 2030, creating more than 100 direct jobs and supporting more than 1,000 indirect jobs across British Columbia.
“We announced this project six weeks ago. Today it’s operational,” Moment Energy CEO Edward Chiang said in a news release. “Demand for energy storage is accelerating, and so is the supply of retired EV batteries.”
“We show that the right technology can enable North America to re-onshore domestic manufacturing in weeks, not decades, creating thousands of jobs and economic prosperity.”
Since its founding in Vancouver in 2020, Moment Energy has attracted both private and government support across British Columbia’s innovation ecosystem, helping the company scale from a university-born startup into a global leader in second-life battery energy storage, it said.
“This is exactly the kind of homegrown innovation we want to see in British Columbia,” Gregor Robertson, Minister responsible for Pacific Economic Development Canada (PacifiCan) said.
“With PacifiCan’s $4.9 million investment, Moment Energy is expanding clean manufacturing, creating good local jobs, and finding smart solutions to global challenges.”