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Tech · Surrey

Moment Energy's Surrey Megafactory 1 named to TIME's Best Inventions of 2026

The EV battery repurposing plant turns retired packs into stationary storage for data centres, hospitals and factories.

By West Coast News staff ·
Sunset over Mud Bay Park in Surrey, B.C.
Sunset over Mud Bay Park in Surrey, B.C.

Moment Energy's Megafactory 1 in Surrey has been named to TIME's Best Inventions of 2026 in the Reuse and Recycle category, Techcouver reported on Thursday.

The Vancouver-founded company opened the plant on June 23, about six weeks after announcing the project, and describes it as the world's largest facility dedicated to reengineering electric-vehicle batteries into stationary energy storage.

Founded by Simon Fraser University alumni Edward Chiang, Sumreen Rattan, Gurmesh Sidhu and Gabriel Soares, Moment Energy says the Surrey operation is expected to create more than 100 direct jobs and support more than 1,000 indirect jobs across British Columbia.

A US$40 million Series B led by Evok Innovations, with Liberty Mutual Investments, W23 Global Fund and Acario, brought total capital raised to more than US$100 million. Chiang said every pack repurposed sooner becomes energy storage on the grid sooner.

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