SFU VentureLabs Alumni Moment Energy Opens World’s Largest EV Battery Repurposing Facility
SFU VentureLabs alumni Moment Energy has officially opened Megafactory 1, the world’s largest EV battery repurposing facility, just six weeks after announcing the project.
The company repurposes retired electric vehicle batteries into battery energy storage systems that support critical infrastructure, including data centres, hospitals, factories, and microgrids, helping address surging electricity demand driven by AI, electrification, and grid modernization. By 2030, the facility is expected to produce 1 GWh of battery energy storage systems, creating more than 100 direct jobs and supporting over 1,000 indirect jobs across British Columbia.
The opening follows Moment Energy’s US$40 million Series B funding round, bringing total funding to more than US$100 million, and the company’s achievement of the world’s first safety-certified battery management system for second-life EV batteries.
“This new facility is not only powering a more sustainable future, it is helping to build a stronger, more resilient economy for British Columbians and all Canadians.”
Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for PacifiCan
Read more about Moment Energy’s Megafactory opening below:
