Microvast Announces Energy Division Expansion in Colorado

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.