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Moment Energy Opens Battery Repurposing Megafactory, Targets 1 GWh Output by 2030

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Moment Energy opened Megafactory 1, the world's largest electric-vehicle battery repurposing facility, just six weeks after announcing the project, the company said Tuesday.

The facility converts retired EV batteries into battery energy storage systems designed for data centers, hospitals, factories, microgrids, and other critical infrastructure applications, the company said.

The company brought the facility online as electricity demand rises from artificial intelligence, data centers, electrification, and grid modernization initiatives.

By 2030, the facility is expected to produce 1 gigawatt-hour of battery energy storage systems annually. The project will also create more than 100 direct jobs and support over 1,000 indirect positions across British Columbia, the company said.

Moment Energy said support from private investors and government programs helped transform the company from a university startup into a provider of second-life battery storage systems.

Moment Energy opened the facility after securing $40 million in Series B financing, bringing total funding raised above $100 million. The company also recently obtained what it said was the industry's first product and functional safety certification for a battery management system tailored to second-life EV batteries.

"Demand for energy storage is accelerating, and so is the supply of retired EV batteries. We show that the right technology can enable North America to re-onshore domestic manufacturing in weeks, not decades, creating thousands of jobs and economic prosperity," said Edward Chiang, Co-Founder and CEO of Moment Energy.

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