Moment Energy opens 'world's largest' EV battery reuse plant
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- Moment Energy officially opened Megafactory 1 in Vancouver, BC on June 23, a facility the company calls the world's largest for repurposing retired EV batteries into stationary storage systems serving data centers, hospitals, factories, and microgrids.
- Edward Chiang, Moment Energy's cofounder and CEO, said the factory became operational just six weeks after the project was announced, arguing it proves North America can re-shore manufacturing "in weeks, not decades."
- The Megafactory 1 facility is expected to produce 1 GWh of battery energy storage systems annually by 2030, creating more than 100 direct jobs and supporting over 1,000 indirect jobs across British Columbia.
- Pacific Economic Development Canada (PacifiCan) invested CA$4.9 million in Moment Energy, which also closed a US$40 million Series B earlier this year, bringing the company's total funding past US$100 million.
- Moment Energy says it became the first company to earn both product safety and functional safety certification for a battery management system designed specifically for second-life EV batteries.
Why it matters: Moment Energy's six-week timeline from announcement to operational factory challenges the assumption that domestic battery manufacturing requires years of buildout. With 1 GWh of planned annual capacity by 2030, the Vancouver facility addresses two converging trends the company itself names: retiring first-wave EV batteries reaching end of vehicle life, and accelerating demand for stationary storage at electricity-hungry infrastructure like data centers.
