On June 23, 2026, Moment Energy officially opened Megafactory 1 in Vancouver, marking the start of operations at what the company describes as the world’s largest electric vehicle battery repurposing facility. Completed just six weeks after project announcement, the plant converts retired EV batteries into modular energy storage systems designed for data centers, hospitals, factories and microgrids. It is expected to reach an annual production capacity of 1 GWh by 2030.
The ribbon-cutting event brought together government officials, industry partners, investors and academic leaders, including the Member of Parliament for Surrey Centre, British Columbia’s Minister of Jobs and Economic Growth, and the Acting President of Simon Fraser University. The facility is projected to create more than 100 direct jobs and support over 1,000 indirect roles in the province.
Edward Chiang, co-founder and CEO of Moment Energy, highlighted the accelerated timeline. “Demand for energy storage is accelerating, and so is the supply of retired EV batteries,” he said, noting that the facility demonstrates how advanced technology can re-shore domestic manufacturing quickly and sustainably.
Founded in 2020 in Vancouver, Moment Energy has grown from a university spin-out to a leader in second-life battery storage solutions. The company recently secured $40 million in its Series B financing, bringing total funding to over $100 million. It also achieved the first product safety and functional safety certification for a battery management system specifically engineered for repurposed EV batteries.
Support from both federal and provincial programs, including a $4.9 million investment from Pacific Economic Development Canada, was instrumental in bringing the megafactory online. Government representatives praised the project as an example of homegrown clean-tech innovation that strengthens regional manufacturing, creates skilled employment opportunities and contributes to a more resilient economy.
Source: PR Newswire (https://www.prnewswire.com/news-releases/moment-energy-completes-construction-on-the-worlds-largest-ev-battery-repurposing-megafactory-302808406.html)
