Moment Energy has officially opened Megafactory 1 in Vancouver, British Columbia, which it bills as the world's largest EV battery repurposing facility. The plant came online on June 23, just six weeks after the company announced the project, and will turn retired electric-vehicle batteries into grid-scale energy storage.
Built in six weeks
The now-operational megafactory transforms used EV batteries into cost-effective, rapidly deployable battery energy storage systems (BESS) for data centres, hospitals, factories and microgrids. A ribbon-cutting ceremony drew customers, investors and government officials, including Member of Parliament Randeep Sarai and British Columbia's Minister of Jobs and Economic Growth, Ravi Kahlon. The facility is expected to produce 1 GWh of storage capacity by 2030 while creating more than 100 direct jobs and supporting over 1,000 indirect roles across the province.
Second-life batteries meet surging demand
Moment Energy says the timing addresses two converging trends: electricity demand driven by AI, data centres and electrification, and the millions of EV batteries set to retire from North American roads in the coming years. "We announced this project six weeks ago. Today it's operational," said co-founder and CEO Edward Chiang, framing the build as proof that domestic manufacturing can be re-onshored "in weeks, not decades."
Backed by a $40M Series B
The opening follows Moment Energy's recent US$40 million Series B financing, which brought total capital raised past US$100 million, and the company's UL-certified safety milestones for second-life systems. Founded in Vancouver in 2020, Moment Energy partners with automakers such as Mercedes-Benz Energy and manufactures across Texas and British Columbia. The launch adds to a wave of new storage capacity coming online, alongside projects like Hithium's Spanish BESS gigafactory.
Reporting based on coverage from Moment Energy and Canada's National Observer.