News Summary

Moment Energy, a clean energy company based in Coquitlam, is set to open one of the world’s largest EV battery repurposing facilities in Surrey, B.C. The company is converting an existing structure for rapid build-out, expected to be operational by the end of June. Unlike traditional battery plants, this facility will repurpose retired EV batteries into commercial-scale battery energy storage systems. The plant will manage the entire lifecycle of second-life batteries under one roof, from intake inspections to reconditioning and assembly. The project is supported by a $40 million Series B financing round led by Evok Innovations, with plans to scale production to one gigawatt-hour annually by 2030. This initiative will create over 100 skilled jobs in B.C. and maintain a domestic supply chain. Moment Energy’s systems are designed to provide backup power, store renewable energy, and help utilities balance electricity supply and demand, extending the useful life of batteries by at least another decade.