Microvast Holdings, Inc., a technology innovator that designs, develops and manufactures lithium-ion battery solutions, purchased a new research, development and innovation center in Lake Mary, Florida. The project is expected to create 100 jobs over the next 5 years in the Orlando region.
According to company officials, the $11 million existing facility is approximately 75,000 square feet on 8 acres and currently consists of office space and a warehouse. The location will become Microvast’s innovation headquarters and will include a world-class laboratory for battery prototyping.
“Our goals and objectives are centered around thinking forward, powering now and the new R&D center is an important milestone in that journey,” said Yang Wu, Microvast Holdings President and Chief Executive Officer. “This investment will support our long-term growth objectives by ensuring that our technologies remain on the forefront, pushing the boundaries of non-flammable material technologies, fast charging cells and battery lifetimes for many years to come.”
Microvast, founded in 2006 and is headquartered near Houston, Texas, is a technology innovator that designs, develops and manufactures lithium-ion battery solutions. Microvast is renowned for its cutting-edge cell technology and its vertical integration capabilities which extend from core battery chemistry (cathode, anode, electrolyte, and separator) to modules and packs. By integrating the process from raw material to system assembly, Microvast has developed a family of products covering a breadth of market applications, including electric vehicles, energy storage and battery components.
“We are excited to expand our presence in the Orlando area, which is a hub for innovation with exceptional STEM talent from multiple nearby universities,” said Dr. Wenjuan Mattis, Chief Technology Officer. “We have already begun recruiting and investing in engineers and PhDs for this new facility, which will complement our existing R&D presence of more than 500 professionals in Huzhou, China.”