Battery manufacturer Microvast opens Timnath testing facility
TIMNATH — Microvast Holdings Inc. (Nasdaq: MVST), a technology company that designs and manufactures lithium-ion batteries, has opened a new 30,000-square-foot testing center in Timnath at 5000 Goodman St.
“Our technology and testing center will usher in the next phase of Microvast’s expansion and growth,” Zach Ward, president of Microvast Energy, said in a written statement. “This facility will create dozens of new STEM and other attractive jobs as Microvast continues to serve as an economic engine in Colorado. Our team pushes for excellence in technology innovation and execution as we gain momentum in the development, manufacture and application of battery energy storage systems for utility-scale projects.”
Microvast said this month that its energy division secured a contract to supply a 1.2GWh battery energy-storage project co-located with a solar plant in the United States. Microvast’s Colorado team was instrumental to this project win, the company said in a press statement. The grid-scale energy storage batteries will be manufactured in Clarksville, Tennessee, which is one of now four domestic facilities for the company. The company’s website also lists three international locations.
Microvast employs 15 people in Timnath and plans to expand to 50 within 18 months, Brooke Bentley, marketing director for the energy division of the company, told BizWest. The company has about 2,000 employees worldwide.
“Timnath congratulates Microvast on the opening of its new design center. It will be a great addition to our town and we wish the company success in its efforts to advance and enable alternative energy sources,” Brett Hanson, Timnath mayor pro-tem, said in a written statement.
The Timnath facility includes an engineering lab for product development and testing, a customer training lab, a showroom, and office space. Product development, sales, marketing, project management and customer care departments for Microvast’s energy division will be headquartered at the new facility. The building’s design can accommodate expansion; the total facility is about twice the size of the units that Microvast will use initially.
Microvast bought the building, which is a business condominium, on Nov. 14 for $5.95 million, according to Larimer County Assessor records.