Microvast Announces Location of First Polyaramid Separator Plant in Kentucky
March 30 2023 - 12:18PM
Business Wire
Microvast Holdings, Inc. (NASDAQ: MVST), (“Microvast” or the
“Company”), a technology innovator that designs, develops and
manufactures lithium-ion battery solutions, today announced the
location of its first polyaramid separator plant in Hopkinsville,
Kentucky with a $504 million investment. The project, intended to
be the world's first mass production facility for the cutting edge
polyaramid separator technology, will create up to 562 new
full-time jobs.
“We are excited to announce this next chapter for Microvast, as
we intend to build the world’s first mass production facility for
our cutting edge polyaramid separator technology,” said Yang Wu,
Microvast’s Founder, Chairman, President and Chief Executive
Officer. “This material took over 10 years to develop internally
and we believe it offers significant safety advantages compared to
other polypropylene or polyethylene separator technology available
today. We are pleased to expand our manufacturing footprint into
Kentucky as it continues to position itself as a leader in EV
manufacturing and are eager to work closely with the local
community as we begin construction.”
Microvast plans to invest $504 million to establish operations
on a 100-acre site in Commerce Park II in Hopkins in a
350,000-square-foot building. Construction is expected to begin in
2023 and is anticipated to be completed in 2025. The campus, which
will include a collaboration with General Motors, is expected to be
funded in part by a $200 million grant from the U.S. Department of
Energy (DOE) as part of the recent Bipartisan Infrastructure Law
intended to develop a North American-focused EV supply chain.
With this facility, Microvast intends to build the world’s first
mass production facility for their cutting edge polyaramid
separator technology. The polyaramid material was part of a United
States Advanced Battery Consortium (USABC) technical assessment
project, which independently confirmed through U.S. National Labs
the polyaramid separator’s specifications and positive impacts to
vehicle safety. Once complete, the plant is expected to have an
annual capacity of 300 million square meters, or approximately 19
GWh.
“We expect the safety advantages of our innovative, highly
thermally stable polyaramid separators to transform high-energy
lithium-ion battery development and drive significant value for the
industry," said Dr. Wenjuan Mattis, chief technology officer at
Microvast.
Polyaramid is a high-temperature resistant, fire-retardant
aromatic polyamide, which is commonly used in firefighting garments
and insulating papers. Microvast holds unique, patented wet-process
technology to produce a thin polyaramid base film. Unlike the
current widely used polyethylene (PE) and polypropylene (PP) based
separators in lithium-ion batteries, which melt at approximately
135°C and 165°C, respectively, Microvast’s patented polyaramid
separator is capable of resisting temperatures in excess of 300°C.
This high temperature resistance, combined with high porosity,
excellent wettability and electrolyte retention, improves the
overall safety, fast charging, and cycle-life of lithium-ion
batteries in EVs as well as other applications.
About Microvast
Founded in Houston, Texas in 2006 as a research and technology
driven company, Microvast has evolved into a global leader in the
design, development and manufacture of battery solutions for mobile
and stationary applications. Microvast provides a broad portfolio
of fast-charging lithium-ion battery solutions, with different
chemistries, performance characteristics and price points to meet
the diverse requirements of its customer base. 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.
Since placing its first battery systems into operation in
electric buses more than a decade ago, Microvast has expanded its
business to serve a broad range of commercial, passenger and
specialty vehicles, including mining, material handling, and power
vehicles and equipment, as well as grid-scale energy storage
applications.
For more information, please visit www.microvast.com or follow
us on LinkedIn or Twitter (@microvast).
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version on businesswire.com: https://www.businesswire.com/news/home/20230330005563/en/
Investor Relations ir@microvast.com (346) 309-2562
Monica Gould monica@blueshirtgroup.com (212) 871-3927
Media media@microvast.com
Brooke Bentley brooke.bentley@microvast.com (970) 232 6012
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