Microvast secures contract to supply BESS to U.S. customer

Microvast announced that its energy division secured a contract to supply a utility-scale battery energy storage system, or BESS, to a U.S. customer. Microvast will supply its BESS ME-4300 container solution for a 1.2GWh battery energy storage project co-located with a solar facility in the United States. Microvast’s BESS ME-4300 container solution includes an industry-leading 4.3MWh of energy density per 20-foot container and an expected battery life of more than 10,000 cycles using Microvast’s 53.5Ah NMC cell technology. Container shipments are expected to begin arriving at the project site in 2023 and the commercial operation date is anticipated to be in 2024. Battery cells manufactured in Microvast’s facility in Clarksville, Tennessee are also expected to qualify as domestic content under the Inflation Reduction Act, which can increase the anticipated benefits from the project for Microvast and its customer.