Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the
“Company”), a technology innovator that designs, develops, and
manufactures lithium-ion battery solutions, today announced the
expansion of its Colorado energy division to a new facility in
Windsor, Colorado.
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Microvast Energy’s new Windsor, CO
facility (Photo: Business Wire)
“Northern Colorado has been a great home to Microvast, and we
are excited to expand our operations by opening a manufacturing
facility in Windsor,” said Zach Ward, President of the Microvast
Energy Division. “The Windsor facility is expected to be
operational in 2023 and is poised to play a significant role in
delivering superior energy storage systems (ESS) to the
fast-growing, utility-scale energy storage market, while boosting
the local economy and creating more jobs here in Colorado.”
Microvast’s new manufacturing plant provides nearly 100,000
square feet of production space, with ample room to add production
lines for its ESS product as needed.
Ward continued, “We are pleased to expand our footprint in
Colorado as we continue to support the growth of the U.S. energy
sector and position ourselves as a leader in the domestic
lithium-ion battery manufacturing industry.”
Colorado State Representative Mike Lynch said, “I am thrilled
about the exciting expansion of Microvast in Windsor, Colorado.
Microvast’s investment is significant for our state, as it will
create economic growth, new jobs, and important technological
advancements. Colorado is a hub for innovation, especially in clean
energy. Microvast's expansion is part of this trend, and it will
have a positive impact on our local economy and inspire other
companies to invest in our great state."
Upstate Colorado Economic Development President/CEO, Rich
Werner, said, “Weld County has a diverse energy economy, and we
welcome Microvast as it establishes operations in Windsor. We look
forward to continuing to work with Microvast as it expands in the
region.”
Windsor Mayor Paul Rennemeyer said, “Windsor is excited to
welcome Microvast Energy to our community. We know it will be a
great asset to our industry base, bringing lots of high-quality
jobs and investment into the town.”
The strategic location of the plant will enable Microvast to
optimize its supply chain and reduce lead times, resulting in
faster delivery of its ESS solution to customers across the U.S.
“This improved logistical capability is expected to strengthen our
competitiveness and help us transport our ESS product efficiently,”
Ward added.
The facility will be used to assemble and ship Microvast’s
industry-leading ESS solutions and expand Microvast’s energy
division, supplementing the Company’s Technology and Testing Center
in nearby Timnath.
“Microvast takes pride in our track record of manufacturing
high-quality, safe products,” said Ward. “Our facilities adhere to
stringent quality control standards, and we continuously invest in
research and development to stay at the forefront of technological
advancements.”
Microvast’s ME-4300 ESS is a 20-foot battery container featuring
an industry-leading 4.3MWh energy density and maintains
functionality for more than 10,000 cycles. Higher density
translates to fewer containers, a smaller footprint, easier
installation, and reduced maintenance. With its capability to
discharge for 2 and 4 hours, the ME-4300 battery energy storage
solution is designed for energy-shifting applications, such as
renewables integration, peak demand, and capacity support.
About Microvast
Microvast is a technology innovator that designs, develops, and
manufactures lithium-ion battery solutions. Microvast is renowned
for its cutting-edge cell technology and its vertical integration
capabilities, which extend from core battery chemistry (cathode,
anode, electrolyte, and separator) to modules and packs. By
integrating the process from raw material to system assembly,
Microvast has developed a family of products covering a breadth of
market applications, including electric vehicles, energy storage,
and battery components. Microvast was founded in 2006 and is
headquartered in Houston, Texas.
For more information, please visit www.microvast.com or follow
us on LinkedIn or Twitter (@microvast).
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, our plans,
objectives, expectations and intentions with respect to future
operations, products and services; and other statements identified
by words such as “will likely result,” “are expected to,” “will
continue,” “is anticipated,” “estimated,” “believe,” “intend,”
“plan,” “projection,” “outlook” or words of similar meaning. These
forward-looking statements include, but are not limited to,
statements regarding Microvast’s industry and market sizes, future
opportunities for Microvast and the combined company and
Microvast’s estimated future results. Such forward-looking
statements are based upon the current beliefs and expectations of
our management and are inherently subject to significant business,
economic, and competitive uncertainties and contingencies, many of
which are difficult to predict and generally beyond our control.
Actual results and the timing of events may differ materially from
the results anticipated in these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230711843135/en/
Brooke Bentley Vice President, Marketing & Communications
brooke.bentley@microvast.com (970) 773-5806
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