Microvast

From Wikipedia, the free encyclopedia
Microvast, Inc.
TypePublic
Nasdaq: MVST
IndustryAutomotive Li-ion Batteries, Energy storage systems
Founded2006; 15 years ago (2006)
FoundersWu Yang, Xiao Diaokun, Li Xiang
Headquarters
Houston, Texas
,
U.S.
Area served
Worldwide
Key people
Wu Yang (CEO, President)
Shane Smith (COO)
Wenjuan Mattis (CTO)
Leon Zheng (CFO)
Sascha Kelterborn (CRO)
Number of employees
1,308 (December 2021).[1]
Websitemicrovast.com

Microvast, Inc. is a battery manufacturer founded in 2006 and headquartered in Houston, Texas, that makes lithium-ion batteries for electric vehicles and energy storage systems. It operates manufacturing bases in the United States, China, and Germany.

History[]

Microvast was founded in 2006[2] in Houston, Texas, along with its Chinese subsidiary, Microvast Power Systems (Chinese: 微宏动力系统) in Huzhou, China.[3] It introduced its first generation of batteries in 2009, with manufacturing starting in 2010 in Huzhou factory.

By March, 2017, it began construction on its "Phase III" production facility in Huzhou.[4]

In 2019, the company, in joint work with researchers from Argonne National Laboratory won a R&D 100 award for a novel "High-energy density and safe battery system".[5]

In July 2020, Microvast inaugurated its new Germany factory in Ludwigsfelde, with production planned to start in March 2021.[6]

On Feb.10, 2021, Tennessee officials and Microvast announced that the company will establish a new manufacturing facility in Clarksville to manufacture battery cells, modules and packs, with the production expected to begin in the summer of 2022.[7][8] The press-release states that "the project started in 2019 at the request of the U.S. Department of Energy (DOE)".[9]

On July 26, 2021, the company went public through a merger with a special-purpose acquisition company.[10]

On Nov. 1, 2021, Microvast opens a new R&D center in Orlando, Florida.[11][12]

Technologies[]

Microvast's first generation of batteries, called "LpTO", was built upon lithium-titanate (LTO) chemistry, that gave them the advantage of being faster to charge and more durable (that is, sustaining their performance over a greater number of charge/discharge cycles) than other lithium-ion batteries,[13] making them adequate for heavy use applications (buses, trucks).[14] The technology however, come at the cost of having a much lower energy density than NMC batteries and a higher initial cost than LFP batteries.[15] Microvast's commercialization of LpTO batteries started in 2011.

The second generation, "LpCO", introduced in 2013, uses modified amorphous carbon material (that has higher energy density than LTO), allowing for reduced cost. According to Microvast, "LpCO cells can be fully charged within 15 minutes, and retain 80% of their capacity after more than 10,000 full charging cycles".[16]

In 2017, Microvast launched its third generation of batteries, "MpCO", based on nickel manganese cobalt oxides (NMC), with improved energy density.[17]
The last generation, "HnCO", reached an energy density of 265 Wh/kg in February 2021.[18]

Microvast is currently working on a new "Polyaramid Separator" and a "Full Concentration Gradient" (FCG) cathode. In addition with their silicon anode technology, the combination of these technologies is intended to produce; a high energy density, cobalt free, fireproof, extreme fast charging (XFC) battery. Predicted to cost less than $100/kWh, research is partially funded by the Low Cost Extreme Fast Charging initiative set forth by the United States Council for Automotive Research, with Microvast being under guidance from the United States Department of Energy and in collaboration with BMW[19][20]

Customers & Partnerships[]

Microvast batteries are being used by numerous bus makers, including Foton,[21] King Long, VDL,[22] Zhongtong Bus,[23] JBM[24] and Wrightbus.[25] With buses operating in China,[26] England,[27] Germany,[28] Holland,[29] India, New-Zealand,[30] Russia[31] and Sweden.[32]

Other commercial vehicles and passenger cars OEM customers include SAIC, PSA Singapore,[33] FPT,[34] ZF Friedrichshafen, Safra, Cargotec, Gaussin[35] and Oshkosh Corporation.[36]

See also[]

References[]

  1. ^ "REGISTRATION STATEMENT".
  2. ^ "About Us".
  3. ^ "微宏动力系统（湖州）有限公司" (in Chinese).
  4. ^ Bebon, Joseph (October 10, 2017). "Microvast Launches Next-Gen Batteries for Mobility Applications".
  5. ^ "Argonne and partners take home nine R&D 100 Awards in 2019 | Argonne National Laboratory". www.anl.gov.
  6. ^ "Microvast completes battery factory in Brandenburg". electrive.com. July 3, 2020.
  7. ^ Settle, Jimmy. "Clarksville lands $220 million Microvast plant; expected to bring 287 direct jobs". The Leaf-Chronicle.
  8. ^ "Project Hertz: How Clarksville flipped brake plant loss into Microvast's $220M electric vehicle battery factory".
  9. ^ "Governor Lee, Commissioner Rolfe Announce Microvast to Establish Manufacturing Facility in Clarksville". www.tn.gov.
  10. ^ "Microvast completes IPO by merging with Tuscan".
  11. ^ "Battery Tech Firm Microvast Opens New R&D Facility in Orlando, Creates 100 New High-Wage Jobs".
  12. ^ "Electric battery manufacturer Microvast to move into new Lake Mary facility 'immediately'".
  13. ^ "Charge a battery in just six minutes". Archived from the original on 2008-12-08.
  14. ^ "Microvast designs batteries, builds buses, and partners with utilities".
  15. ^ Andrea, Davide (31 May 2020). Lithium-Ion Batteries and Applications, Volume 1. p. 69. ISBN 9781630817688.
  16. ^ Staff, Metro Magazine. "Microvast launches next-generation batteries for electric-mobility applications". www.metro-magazine.com.
  17. ^ "Batteries have 41% Greater Energy Density and Charge in 15 Minutes - New Industry Products". eepower.com.
  18. ^ "Top-of-the-Class Energy Density: Microvast Introduces HnCO-52Ah Cell with Leading-Edge Energy Density and Long Cycle Life". AZoM.com. December 18, 2020.
  19. ^ "Developing Safe, High-Energy, Fast-Charge Batteries for Automobiles" (PDF).
  20. ^ "Microvast Is Likely One of the Most Underrated Battery Plays Given Its Ongoing Work on Solid-State Battery Tech and Annual Manufacturing Capacity Expansion to 11 GWh by 2025". 12 April 2021.
  21. ^ "Microvast Becomes the Main Battery Supplier for China's New Energy Bus Makers".
  22. ^ "VDL, electric buses for every kind of needs. Wide portfolio, focus on fast charging".
  23. ^ "1月夺得动力电池装机量第6名 微宏动力牛在哪？" (in Chinese).
  24. ^ "JBM Group to Partner with Microvast for Electric Busses".
  25. ^ "DEFM14A PROXY STATEMENT".
  26. ^ "2,045 Units Buses Equipped with Microvast Batteries Working Smoothly in Chongqing-news-www.chinabuses.org". www.chinabuses.org.
  27. ^ "New Routemaster featuring hybrid electric driveline, 3 doors, 2 staircases and rear platform" (PDF). Archived from the original (PDF) on 2019-09-26.
  28. ^ "Stadtwerke Münster Introduces Electric Bus Fleet Capable Of 500 kW Charging". insideevs.com.
  29. ^ "VDL, electric buses for every kind of needs. Wide portfolio, focus on fast charging".
  30. ^ "Microvast Powered New Zealand's First Electric Bus".
  31. ^ "Microvast Powered Electric City Buses Start Operation in Moscow".
  32. ^ "VDL, electric buses for every kind of needs. Wide portfolio, focus on fast charging".
  33. ^ "PSA Strike Major Automation Deal".
  34. ^ Reuters Staff (November 19, 2019). "CNH Industrial and Microvast hatch joint plan to develop vehicle batteries". Reuters – via www.reuters.com.
  35. ^ "GAUSSIN and MICROVAST announce a strategic partnership to integrate the new generation of batteries dedicated to full-electric and hydrogen versions of Gaussin's new road truck skateboard".
  36. ^ "Oshkosh Corporation partners with Microvast to strengthen electrification capabilities". February 4, 2021 – via www.bloomberg.com.

External links[]

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