WINDSOR — Microvast Holdings Inc. (Nasdaq: MVST), a Stafford, Texas-based company that designs, develops, and manufactures lithium-ion battery solutions, on Tuesday announced the expansion of its Colorado energy division to a facility in Windsor.
The facility at 31815 Great Western Drive had been home to Hexcel Corp. (NYSE: HXL), an advanced composite materials manufacturer, which ended operations there in November 2020. That closure came just months after a $6.3 billion merger with Fort Collins-based Woodward Inc. (Nasdaq: WWD) collapsed.
Microvast will use the facility to assemble and ship its products, supplementing the company’s technology and testing center at 5000 Goodman St. in nearby Timnath. That 30,000-square-foot facility opened in December.
“Northern Colorado has been a great home to Microvast, and we are excited to expand our operations by opening a manufacturing facility in Windsor,” Zach Ward, president of the Microvast Energy Division, said in a prepared statement.
The Windsor facility is expected to be operational this year, Ward said, “and is poised to play a significant role in delivering superior energy storage systems to the fast-growing, utility-scale energy storage market, while boosting the local economy and creating more jobs here in Colorado.”
Microvast’s manufacturing plant in Windsor will provide nearly 100,000 square feet of production space, with room to add production lines for its product as needed.
“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,” Ward said.
“Weld County has a diverse energy economy, and we welcome Microvast as it establishes operations in Windsor,” said Rich Werner, president and CEO of Upstate Colorado Economic Development. “ We look forward to continuing to work with Microvast as it expands in the region.”
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 United States, Ward said. “We expect our improved logistical capability will strengthen our competitiveness and help us transport our ESS product efficiently.”
Microvast’s ME-4300 ESS is a 20-foot battery container. With its capability to discharge for two and four hours, it is designed for energy-shifting applications such as renewables integration, peak demand and capacity support.