Vancouver-based company Moment Energy has officially launched Megafactory 1, currently the world’s largest facility dedicated to repurposing electric vehicle batteries. Opened on June 23, 2026, just six weeks after its announcement, the plant transforms retired EV batteries into reliable energy storage systems. These units provide essential power support for critical infrastructure, including data centers, hospitals, and microgrids. By addressing the rising electricity demands driven by artificial intelligence and grid modernization, the company is simultaneously managing the influx of retired EV batteries in North America, fostering domestic manufacturing and creating significant local employment opportunities.
The facility is projected to reach a production capacity of 1 GWh of battery energy storage by 2030. This expansion is expected to generate over 100 direct jobs and support more than 1,000 indirect positions throughout British Columbia. Moment Energy, founded in 2020, has secured over $100 million in funding, including a recent $40 million Series B round. The company has also achieved the world’s first safety certification for a battery management system specifically designed for second-life EV batteries, marking a significant milestone in sustainable energy technology.
Government support has played a key role in this development, with a $4.9 million investment from PacifiCan. According to Edward Chiang, the company’s Co-Founder and CEO, the project demonstrates that specialized technology can enable North America to rapidly re-onshore manufacturing, moving from concept to operation in weeks rather than decades. Officials noted that the facility serves as a model for homegrown innovation, combining clean manufacturing with smart solutions to address global energy challenges while strengthening the regional economy.