Moment Energy Launches Megafactory 1 for EV Battery Repurposing

Moment Energy has launched Megafactory 1 in Vancouver, which is set to repurpose one gigawatt-hour (GWh) of EV battery capacity annually by 2030. The facility took just six weeks to become operational and is part of a broader trend where energy storage capacity is expected to grow eightfold in the next decade. Last year, the global deployment of EV battery capacity reached 1.2 terawatt-hours, with projections indicating that battery storage capacity could increase 40 times by 2040.

The systems developed by Moment Energy are designed to extend the life of repurposed batteries for an additional 10 to 30 years, with costs now under $90 per kilowatt-hour, compared to an average cost of $70 per kilowatt-hour for energy-storage batteries as of early 2026. Moment has deployed 11 systems since its founding in 2019, and its model could reroute more than two gigawatt-hours of batteries annually.

Moment Energy has raised $100 million from investors, including Amazon and Liberty Mutual, to support its initiatives. The company claims that repurposing batteries reduces global warming potential, resource use, and impacts on human health compared to recycling. Additionally, Moment Energy will soon categorize its repurposed batteries as domestic products in both Canada and the US, aligning with regulatory frameworks.

This follows a growing focus on sustainable practices in the AI and energy sectors, particularly as the demand for energy storage solutions increases amid rising AI development costs.