Megafactory 1, Vancouver, BC. Photo: Moment Energy Moment Energy has officially opened what it says is the world’s largest second-life EV battery factory, bringing new battery energy storage manufacturing capacity online just six weeks after announcing the project. The Vancouver, BC-based company marked the opening of Megafactory 1 with a ribbon-cutting ceremony on June 23. Rather than manufacturing new battery cells, the facility repurposes retired EV batteries into commercial-scale battery energy storage systems. Those systems can store power for use at data centers, hospitals, factories, microgrids, and other critical infrastructure. Electricity demand is climbing, while the first wave of EV batteries is beginning to reach retirement age. Instead of recycling those batteries immediately, Moment Energy repurposes them into stationary battery storage that can continue operating for years. Advertisement - scroll for more content While retired EV batteries typically no longer have enough capacity for vehicle use, many still have plenty of life left for stationary energy storage, where weight and size are less important. The company expects Megafactory 1 to produce 1 gigawatt-hour (GWh) of battery energy storage systems annually by 2030. It says the factory will create more than 100 direct jobs and support more than 1,000 indirect jobs across British Columbia. “We announced this project six weeks ago. Today it’s operational,” said Edward Chiang, cofounder and CEO of Moment Energy. “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.” Founded in 2020, Moment Energy has grown from a university startup into a commercial battery storage company, supported by both private investors and government programs. The Canadian government, through Pacific Economic Development Canada (PacifiCan), invested CA$4.9 million in the company. Earlier this year, the company closed a US$40 million Series B funding round, bringing its total funding to more than US$100 million. It also says it became the first company to earn both product safety and functional safety certification for a battery management system designed specifically for second-life EV batteries. Read more: Solar + storage keeps winning so much in the US power race If you’ve ever considered going solar, make it easy by finding a trusted, reliable solar installer near you that offers competitive pricing by checking out EnergySage. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. Your personalized solar quotes are easy to compare online, and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. Stay up to date with the latest content by subscribing to Electrek on Google News. You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.