On October 15, 2026, TIME named SFU VentureLabs alumni Moment Energy’s Megafactory 1 one of its Best Inventions of 2026 in the Reuse and Recycle category. Moment Energy opened Megafactory 1, the world’s largest EV battery repurposing facility, on June 23, just six weeks after the project was announced.

Megafactory 1 turns retired EV batteries into energy storage systems. As a result, these batteries stay out of landfills and supports critical grid infrastructure. Moreover, Moment Energy is among the first in North America to earn UL 1974 certification for repurposing EV batteries.

Meanwhile, Moment Energy’s US$40 million Series B, led by Evok Innovations, preceded the build. In addition, MIT Technology Review also named the company one of ten “Climate Tech Companies to Watch” for 2026. Moment Energy expects Megafactory 1 to create more than 100 direct jobs and to produce gigawatt-hours of battery energy storage systems by 2030.

SFU alumni Edward Chiang, Sumreen Rattan, Gurmesh Sidhu and Gabriel Soares started Moment Energy as a student venture. Today it manufactures systems that support data centers, hospitals, manufacturing facilities and microgrids.

Read more about Moment Energy’s TIME recognition below:

• https://www.momentenergy.com/news/time-features-moment-energys-megafactory-in-2026-best-inventions
• https://techcouver.com/2026/10/15/moment-energy-surrey-megafactory-time-best-inventions-of-2026/