Moment Energy opened Megafactory 1, the world's largest EV battery repurposing facility, in Surrey, British Columbia on June 23. The facility tests retired electric vehicle batteries and integrates them into stationary energy storage systems for data centers, hospitals, and microgrids, extending their useful life by 15 to 20 years before eventual recycling.
- Moment Energy's Megafactory 1 in Surrey is the world's largest EV battery repurposing facility, opening in June 2024
- The facility is expected to repurpose 25,000 retired EV batteries annually and reach 1 GWh production capacity by 2030
- Retired EV batteries can provide 15 to 20 additional years of service in stationary energy storage applications after removal from vehicles
- The project is expected to create over 100 direct jobs and support 1,000+ indirect jobs across British Columbia
- Moment Energy received US$40 million in Series B funding and US$4.9 million from the federal government through Pacific Economic Development Canada
A British Columbia energy-storage company has opened what it describes as the world’s largest EV battery repurposing facility.
Moment Energy opened Megafactory 1 in Surrey on June 23, six weeks after announcing the project. Its production capacity expected to reach 1 GWh annually by 2030.
The facility receives retired electric vehicle batteries, tests them and integrates usable packs into stationary battery energy-storage systems. The systems can provide power storage for data centres, hospitals, factories and microgrids before the batteries are eventually recycled.
“We announced this project six weeks ago. Today it’s operational,” said Edward Chiang, co-founder and CEO of Moment Energy.
Chiang said demand for energy storage is increasing as more EV batteries reach the end of their automotive lives. The company expects the facility to create more than 100 direct jobs and support more than 1,000 indirect jobs across B.C.
Leonardo Banchik, a Moment Energy board member and partner at Voyager Ventures, said the facility is expected to repurpose 25,000 retired EV batteries annually. He said the batteries can provide another 15 to 20 years of service after being removed from vehicles.
“This is what North American reindustrialization looks like in practice,” Banchik wrote on LinkedIn.
Moment Energy manages the process from battery intake and testing through system integration and deployment. The company said the facility operates under UL 1974 certification, a standard covering the evaluation and repurposing of batteries.
The opening follows a US$40-million Series B financing round that brought Moment Energy’s total funding to more than US$100 million. The federal government has also invested $4.9 million in the company through Pacific Economic Development Canada.
Moment Energy was founded in 2020 by Simon Fraser University graduates Chiang, Sumreen Rattan, Gurmesh Sidhu and Gabriel Soares. The company works with automakers, including Mercedes-Benz Energy, to place retired EV batteries into stationary applications before recycling.
