Moment Energy plans to build what it describes as the world’s largest battery-repurposing facility in the Vancouver area over the next six weeks.

Edward Chiang, co-founder and CEO of Moment, unveiled the project, described as the world’s largest “megafactory” of its kind, Wednesday during a news conference at the Web Summit conference at the Vancouver Convention Centre.

“This is about building the infrastructure needed to support the next generation of energy demand,” said Chiang. “We are proud to establish this facility in Canada, the country where Moment Energy was founded, to foster domestic manufacturing. This scaling solution utilizes existing battery resources to deliver the reliable, affordable power that is so crucial right now.”

Chiang said the project will produce one gigawatt-hour of second-life battery systems and generate 100 jobs across B.C. in the first five year. Moment said the development marks a major step toward scaling domestic energy-storage infrastructure and will be the fastest battery-manufacturing scale-up in the world. The project is proceeding after Moment raised US$40 million in its Series B funding round, bringing the total amount of capital raised to about US$100 million,

Moment said it is the first company building commercial-scale battery energy-storage systems from second-life EV batteries that are fully certified across the UL safety stack and already deployed in the field. The UL safety stack is a series of product-safety certifications issued by UL Solutions.

“Our systems power data centers, hospitals, factories, and microgrids across North America, sourced from batteries already on the continent’s roads, manufactured in Texas and British Columbia,” the company.”

Moment partners with major automakers, including Mercedes-Benz Energy, to repurpose retired EV batteries before they are recycled.

Founded in Vancouver, Moment develops battery energy-storage systems using repurposed electric-vehicle batteries for commercial and industrial applications across North America.

Hosted by Inform, Web Summit has drawn tech industry leaders from around the globe.

Pictured: Moment Energy’s future battery-repurposing plant in the Vancouver area.

Image: CNW Group/Momentum Energy