- Lithium-ion battery solutions provider Microvast Holdings Inc (NASDAQ:MVST) has launched its new energy division.
- Microvast Energy designs, develops and manufactures Battery Energy Storage Systems (BESS) that are co-located with solar solutions using Microvast’s battery technology.
- Zach Ward has been appointed as President of Microvast Energy, overseeing the division’s strategic direction, operations, product development, and sales.
- Ward has seventeen years of experience in the solar energy sector. He has executed more than 20 GW of utility and distributed generation solar and 500 MWh of energy storage projects.
- Also Read: Making EV Batteries In US Will Be ‘Nicely Profitable’ For Decades To Come, Says Munster: Could These 5 Stocks Gain Big?
- Microvast’s BESS solutions will incorporate battery cells and modules manufactured in Clarksville, Tennessee.
- The Clarksville facility features 650,000 sq. feet of manufacturing space on 85 acres and is expected to create up to 300 new jobs in the region.
- “Our grid-scale BESS solutions provide critical infrastructure capable of addressing the gap between renewable energy supply and peak grid demand,” said Zach Ward, President of Microvast Energy.
- Price Action: MVST shares are trading higher by 7.46% at $1.9450 on the last check Monday.
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