November 3, 2022 – TheNewswire – Microvast Holdings (NASDAQ:MVST) and General Motors (NYSE:GM) have announced receipt of a $200 million grant from the U.S. Department of Energy to support construction of a new separator manufacturing facility in the United States. The new facility will produce and supply polyaramid films for lithium-ion battery components across a range of applications, ranging from electric vehicles to energy storage systems.
Microvast’s patented polyaramid films create an insulated layer between the cathode and anode, which significantly reduces the risk of thermal runaway in lithium-ion batteries while still allowing for effective ion transfer. Both companies are collaborating to develop new separator technology that can further improve electric vehicle safety, charging and battery life using intellectual property contributions from both companies.
Dr. Wenjuan Mattis, CTO at Microvast stated: “It is an honor to be recognized by the DOE and collaborate with General Motors on this important effort to strengthen and accelerate domestic battery supply chain and manufacturing initiatives in North America. This grant will enable Microvast to accelerate its plans to onshore critical battery component manufacturing processes, including mass production of our patented polyaramid separator technology.“
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. The company provides a broad portfolio of fast-charging lithium-ion battery solutions,and is known for its cutting-edge cell technology and its vertical integration capabilities.
Shares of Microvast trade on the NASDAQ under the ticker symbol MVST. For more information visit www.greenstocknews.com.
This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.
View original video news clips here: https://greenstocknews.com/green-stock-newswire
Copyright (c) 2022 TheNewswire – All rights reserved.