Latest TeraStor News
Jun 16, 2023
Hudson, Massachusetts, UNITED STATES MUNICH, Germany, June 16, 2023 (GLOBE NEWSWIRE) -- This week at The smarter E Europe exhibition, American Battery Solutions, Inc.’s Energy Storage Solutions division (ABS ESS; exhibitor stand B2.476), manufacturer of the ultra-high-density TeraStor™ battery energy storage platform, announced a strategic partnership with EVE Energy (EVE), a distinguished global supplier of high-quality battery cells. Under this agreement for prismatic LFP cells, ABS ESS and EVE have confirmed raw material supply and production capacity that will support a portion of ABS ESS’s impressive plans to deploy over 30 GWh of their innovative energy storage architecture over the next three years. The current terms grant ABS ESS access to more than 100 MWh of manufactured cell capacity per week—which equates to 5 GWh per year—ensuring a steady supply to meet much of the growing demand for their large-scale TeraStor™ BESS solution. “Our collaboration has been in progress for the past year, with an initial agreement reached in Q4 of 2022,” said Steven Chen, Vice President of EVE Energy Co. Ltd. “Extended warranty terms were finalized in Q1 of 2023, and we are very happy to announce this partnership now.” In line with ABS ESS’s commitment to providing customers with an unrivaled level of service and support, the agreement enables robust extended capacity and availability guarantees that last up to 20 years for ABS ESS customers. ABS ESS selected EVE cells for their market acceptance and exceptional reliability. Both of the following recent announcements from ABS ESS used EVE-sourced cells in their related studies: TeraStor™ BESS system reliability analysis, conducted by Reliant Labs, confirming an unrivaled predicted 99.999% (5-nines) reliability TeraStor™ 9540A module-level testing, demonstrating efficacy of architected safety features "ABS ESS is excited to join forces with EVE in our mission to deliver reliable energy storage solutions that enable a sustainable energy future," said Rick Cwiakala, Vice President of Operations. "Through this strategic partnership and MSA, we are well-positioned to meet much of the growing demand for the TeraStor™ and for our additional forthcoming systems that are purpose-built for execution of further energy storage scenarios.” ABS ESS maintains flexibility in its supply chain, with the ability to source additional new and future cells from EVE and other high-quality suppliers. The extended warranty options and flexible energy assurance plans demonstrate the company’s commitment to delivering revolutionary energy storage solutions at the highest quality and greatest total lifetime value to customers. For more information on American Battery Solutions’ Energy Storage Division and the 7.2 MWh (600MWh/acre) TeraStor™, please visit https://www.americanbatterysolutions.com/ess/ess-home. About American Battery Solutions’ Energy Storage Solutions Division American Battery Solutions, Inc.’s Energy Storage Solutions division is a pioneering provider of advanced energy storage solutions. The company designs, develops and manufactures cutting-edge systems, empowering customers to harness the full potential of renewable energy and optimize energy management. With a steadfast commitment to value, reliability, sustainability and innovation, the ABS ESS team of industry veterans aims to revolutionize the energy storage landscape. Contact
TeraStor Frequently Asked Questions (FAQ)
When was TeraStor founded?
TeraStor was founded in 1996.
Where is TeraStor's headquarters?
TeraStor's headquarters is located at Milpitas.
What is TeraStor's latest funding round?
TeraStor's latest funding round is Unattributed VC - IV.
How much did TeraStor raise?
TeraStor raised a total of $50.5M.
Who are the investors of TeraStor?
Investors of TeraStor include Cercano Management, Winton Partners, Charter Venture Capital, Information Technology Ventures, University of Texas Investment Management Company and 5 more.