Business Wire

TÜV SÜD Supports Microvast on the Road to Sustainable Battery Production

Share

The market for battery electric vehicles (BEVs) and stationary battery storage systems is growing rapidly. An integrated approach is vital to ensure the underlying technologies meet the ever-growing sustainability demands. TÜV SÜD, a leading global provider of Testing, Inspection and Certification (TIC) services, has developed a sustainability assessment program for battery production, which is currently being implemented for the first time in a pilot project with Microvast Holdings, Inc. (NASDAQ:MVST), a leading supplier of battery technology for next-generation commercial and special-purpose vehicles.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220512005189/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Sascha Kelterborn, President of Microvast, receives sustainability report from Ferdinand Neuwieser, Chief Executive Officer of TÜV SÜD. (Photo: Business Wire)

When developing its sustainability assessment program, TÜV SÜD was guided by the holistic sustainable development goals (SDGs) of the United Nations and took these goals as a basis to define specific criteria and indicators that allowed its technical inspection experts to assess and quantify sustainability.

TÜV SÜD even considered the requirements of the future EU Battery Directive. The TÜV SÜD sustainability assessment program is designed to support manufacturers in developing more sustainable battery production operations which will ultimately encompass not only ecological, but also social and economic aspects.

In a pilot project for the first stage of the sustainability assessment, TÜV SÜD reviewed the current status of corporate sustainability at several of Microvast’s facilities. The pilot project marked the debut of a newly developed SDG assessment tool which enables impartial, holistic, and transparent recording and assessment of the underlying data to be performed. The results of the first stage of the sustainability assessment were summarized in a status report, which Microvast will use as a baseline for advancing its sustainability initiatives.

“Sustainability, sustainable production, and sustainable supply chains are turning into a critical characteristic that delivers competitive edge for companies across all industries,” says Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service GmbH. “We are honored to carry out this sustainability assessment pilot project. Microvast is highly dedicated to its goal of improving the sustainability of its battery production and this project is an important step toward achieving those goals.”

“Our strategic goal is to establish fully sustainable battery production operations and supply chains on the basis of the United Nations’ sustainable development goals (SDGs),” says Sascha Kelterborn, President & Chief Revenue Officer of Microvast Holdings, Inc. “We are aware of the challenges that await us. The sustainability assessment and the status reports from TÜV SÜD will support us in overcoming these challenges and document our progress on the road to securing a leadership position in the sustainable battery production sector.”

The project will now enter the second stage, which is expected to involve recommendations to further improve the sustainability of Microvast’s production processes.

Note for editorial staff: The press release and high-resolution photo are available on the Internet at www.tuvsud.com/newsroom.

Founded in 1866 as a steam boiler inspection association, the TÜV SÜD Group has evolved into a global enterprise. More than 25,000 employees work at over 1.000 locations in about 50 countries to continually improve technology, systems and expertise. They contribute significantly to making technical innovations such as Industry 4.0, autonomous driving and renewable energy safe and reliable. www.tuvsud.com

Microvast 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. Microvast’s strategic ambition is to become a fully sustainable battery company. Microvast was founded in 2006 and is headquartered near Houston, Texas. For more information, please visit www.microvast.com

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Dr Thomas Oberst
TÜV SÜD AG
Corporate Communications
Westendstr. 199, 80686 Munich
Tel. +49 (0) 89 / 57 91 – 23 72
Fax +49 (0) 89 / 57 91 – 22 69
Email thomas.oberst@tuvsud.com
Internet www.tuvsud.com/de

Sarah Alexander
Microvast
Investor Relations
Tel. +1 (346) 309-2562
Email ir@microvast.com
Internet www.microvast.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Data from Incyte’s Robust and Progressing Oncology Portfolio to be Presented at 2022 EHA Annual Meeting26.5.2022 12:00:00 CEST | Press release

Incyte (Nasdaq:INCY) today announced that multiple abstracts featuring data from its oncology portfolio will be presented at the upcoming European Hematology Association 2022 (EHA2022) Congress (June 9-17; virtual and in Vienna). “We are committed to advancing science that can lead to solutions for patients with serious unmet medical needs, including those with cancer,” said Steven Stein, M.D., Chief Medical Officer, Incyte. “For that reason, we look forward to convening with the oncology community and presenting data from across our portfolio, including both Incyte-led and partnered programs.” Key abstracts accepted by EHA include: Oral Presentation Long-term Efficacy and Safety Results from an Ongoing Open-Label Phase 2 Study of Parsaclisib for the Treatment of Autoimmune Hemolytic Anemia (AIHA) (Abstract #S286. Session: Transfusion and Autoimmune Hemolytic Anemia. Session Time: Friday, June 10, 11:30 a.m. - 12:45 p.m.) Poster Presentations A Real-World Evaluation of the Association

H.I.G. Capital Expands Its Capital Formation Middle East Team with the Addition of Oliver Slade26.5.2022 12:00:00 CEST | Press release

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over $49 billion of capital under management, is pleased to announce that Oliver Slade has joined the firm’s Capital Formation Group, as a Managing Director, based in Dubai. Oliver will be responsible for capital raising and investor relations activities in the Middle East. He has been based in the region since 2008 and has over 17 years of experience in alternative assets. Oliver joins H.I.G. from Partners Group, where he was the Head of Middle East and Africa, responsible for the development and capital raising activities across private markets funds and solutions in the region. Prior to Partners Group, Oliver held a similar role at GAM investments. Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, commented: “We are delighted to welcome Oliver to H.I.G. Given his experiences in the region, Oliver is a key addition to establish a local presence in the Middle East, wh

500 Billion Gallons of Water Prevented from Flooding Communities in 2021, Using Xylem Technology26.5.2022 12:00:00 CEST | Press release

Solutions from global water technology company Xylem (NYSE:XYL), helped prevent more than 500 billion gallons of polluted water from flooding communities in 2021, according to its annual Sustainability Report. The report highlights the Company’s work with customers and partners to solve the world’s greatest water challenges. It also details Xylem’s progress to reduce its operational footprint, including cutting Scope 1 and 2 greenhouse gas (GHG) emission intensity by 12 percent and water use by 22 percent, versus 2019. “It’s a great privilege to have a leading portfolio of technologies and services to help our customers and communities solve the water challenges so central to a more sustainable world,” said Patrick Decker, president and CEO of Xylem. “We have a responsibility to make a difference, working alongside our customers and partners, and the communities we all serve. That’s why our sustainability report is more than a set of numbers. It’s a report card on the difference we’re

SCREEN Increases Efforts to Reduce the Environmental Impact of the Semiconductor Industry26.5.2022 10:43:00 CEST | Press release

SCREEN Semiconductor Solutions Co., Ltd. (SCREEN SPE), a subsidiary of SCREEN Holdings Co., Ltd., has announced it will increase its efforts to reduce the company’s environmental overall impact. The SCREEN Group is committed to both achieving a sustainable global society and to improving its sustainable value (social value) and has formulated a medium-term management plan titled Sustainable Value 2023 targeting these goals. The plan identifies specific issues in each of the environmental, social, and governance (ESG) fields. Concerning the environment, SCREEN is working to provide products and services that actively contribute to the reduction of ecological burden. Its efforts include improving the environmental performance of its products, reducing the effects of its business activities on climate change, promoting effective utilization of water resources, increasing recycling of products and parts, and helping to preserve biodiversity. Concretely, SCREEN SPE seeks to reduce the impac

CARVYKTI ® (ciltacabtagene autoleucel) Granted Conditional Approval by the European Commission for the Treatment of Patients with Relapsed and Refractory Multiple Myeloma26.5.2022 09:10:00 CEST | Press release

Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global biotechnology company developing, manufacturing and commercializing novel therapies to treat life-threatening diseases, today announced that the European Commission (EC) has granted conditional marketing authorization of CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) for the treatment of adults with relapsed and refractory multiple myeloma (RRMM) who have received at least three prior therapies, including a proteasome inhibitor (PI), an immunomodulatory agent (IMiD) and an anti-CD38 antibody, and have demonstrated disease progression on the last therapy. Legend Biotech entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc. (Janssen) to develop and commercialize cilta-cel in December 2017. CARVYKTI® is a chimeric antigen receptor T-cell (CAR-T) therapy featuring two B-cell maturation antigen (BCMA)-targeting single domain antibodies.1 CAR-T therapy is specifically developed

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom