Microvast Holdings, Inc., a technology innovator engaged in the design, development and manufacturing of lithium-ion battery solutions, today announced its participation in a Shell-led mining electrification consortium.
The consortium's pilot offering of electrification solutions for off-road vehicles used in the mining industry aims to advance mining electrification and reduce emissions by moving away from long-standing dependence on diesel, without compromising safety or efficiency operational. Shell, together with consortium members, wants to offer an end-to-end, interoperable and modular solution for the mining industry, including power supply and microgrids, ultrafast charging and in-vehicle energy storage.
Within the consortium, microvast was commissioned to provide a customized high-power battery solution with ultra-fast charging capability. The ultra-high voltage (> 1000 VDC) lithium-titanate lithium-ion (LTO) battery system that Microvast will develop, with extremely high C-rate performance and a long lifespan of 20.000 cycles under normal operating conditions. It will be key to making possible the high-power, ultra-fast charging for intensive use that the consortium is tasked with providing. Microvast's LTO battery system is expected to achieve best-in-class energy density, ensuring sufficient power supply for the application while respecting space and weight limits.
Microvast delivered its first LTO battery for electric vehicles in 2011 and has more than a decade of experience in the development, manufacture and implementation of LTO lithium-ion batteries. High voltage LTO batteries are also suitable for applications in other industries, such as engineering equipment, rail transport, marine and energy storage.
“We are proud to partner with Shell and the consortium to accelerate the efforts of decarbonization industrial, ”said Sascha Kelterborn, President and Chief Revenue Officer at Microvast. "Shell's commitment to sustainable initiatives and net zero emissions is inspiring and we are thrilled to have our innovative battery solutions become part of the company's electrification journey."
“The challenge of decarbonisation is huge but not impossible, as long as collaboration and innovation go hand in hand,” said Grischa Sauerberg, Vice President of Sector Decarbonisation and Innovation at Shell. "To overcome these challenges and unlock these opportunities, Shell is helping to bring together some of the most innovative companies in the industry, in a context where electrification is an important first step towards a clear path to decarbonization."
Founded in Houston, Texas (USA) in 2006 as a technology research-oriented company, Microvast has evolved into a global leader in the design, development and manufacturing of battery solutions for mobile and stationary applications. Microvast offers a broad portfolio of fast-charging lithium-ion battery solutions, with different chemistries, performance and pricing to meet the diverse needs of its customer base. Microvast is renowned for its sophisticated cell technologies and vertical integration capabilities ranging from the fundamentals of chemistry. At the basis of the operation of batteries (cathode, anode, electrolyte and separator) in modules and battery packs.
Since putting its first battery systems into electric buses more than ten years ago, Microvast has expanded its business to meet the needs of a wide range of commercial, passenger and specialty vehicles, including vehicles. and equipment for the mining, material handling and electrical industries, as well as for grid-level energy storage applications.
With more than 80.000 employees in more than 70 countries, Shell works with global industries to accelerate the transition to net zero emissions by offering more cleaner energy solutions.
Shell's goal of transforming itself into a net-zero emissions company by 2050 is in line with the ambitious climate change target set by the United Nations Paris Agreement: to limit the rise in global average temperature to 1,5ºC.
To foster the transformation of industries, Shell has created the Shell Sectors & Decarbonisation (S&D) division, made up of teams with specific sectoral experience able to offer assistance to companies operating in the hard-to-abate sectors to avoid, reduce and mitigate emissions. Shell S&D provides these customers with the products and solutions they require today, working with them to meet their rapidly changing needs.
Shell Mining works across the entire mining value chain, from transportation to processing and beyond, to identify and develop decarbonisation strategies, pathways and solutions. That contribute to making operational efficiencies and sustainable practices possible. Shell's industry-based approach enables members of the mining team to apply their extensive skills and knowledge, working closely with customers to develop highly customized solutions. In this context, Shell Mining considers collaboration a fundamental aspect of innovation and an essential lever for reducing emissions in the entire sector.
This press release contains “forward-looking statements” within the meaning attributed to such expression by the US Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements regarding future financial and operating results, our plans, goals, expectations and intentions regarding future activities, products and services. Other statements identified by the use of terms such as "will likely result", "expected", "continue", "anticipated", "estimated", "believe", "intend", "plan", "projection", " perspective ”or terms of similar meaning.
Such forward-looking statements include, without limitation, statements regarding Microvast's industry presence and market share, future opportunities for Microvast and its estimated future results. Forward-looking statements are based on management's current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and timing of events may differ materially from what is indicated in the forward-looking statements.
The original text of this announcement, written in the source language, is the official version that is authentic. The translations are offered solely for the reader's convenience and must refer to the text in the original language, which is the only legally valid one.
Last Monday, the Financial Times announced a deal with OpenAI. FT licenses its world-class journalism…
Millions of people pay for streaming services, paying monthly subscription fees. It is common opinion that you…
Coveware by Veeam will continue to provide cyber extortion incident response services. Coveware will offer forensics and remediation capabilities…
Predictive maintenance is revolutionizing the oil & gas sector, with an innovative and proactive approach to plant management.…
