Moment Energy has officially opened Megafactory 1, the largest EV battery repurposing facility in the world, bringing domestic battery energy storage manufacturing capacity online only six weeks after announcing the project. It is located in Vancouver, British Columbia.
The now operational facility converts retired EV batteries into rapidly deployable energy storage systems that support critical infrastructure, including data centres, hospitals, factories and microgrids.
The facility comes online as demand for electricity continues to surge, while at the same time, millions of EV batteries already on North American roads are expected to be retired over the coming years. Moment Energy is expecting to address both challenges by turning retired batteries into highly scalable energy storage systems that can alleviate power shortages.
Since its founding in Vancouver in 2020, Moment Energy has benefited from 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.
The completion of the megafactory follows the company’s recent US$40 million Series B financing, which brought its total funding raised to more than US$100 million. It also follows the company’s achieving the world’s first product safety and functional safety certification for a battery management system designed specifically for second-life EV battery applications.
